Capitol to Courthouse Headliners: Friday, July 20

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Home insurers ask to raise rates

Despite lawmakers’ efforts to alleviate the state’s insurance crisis, few homeowners have seen much real relief. A bill passed in January required insurers to lower rates. But the rate reductions initially filed by insurers have turned out to be paltry compared to legislators’ and regulators’ expectations.

 

State rejects Fla. Farm Bureau home insurance rate increase

The state will deny a planned home insurance rate increase by Florida Farm Bureau’s two property insurance companies, which have about 140,000 homeowners policies, the Office for Insurance Regulation said Friday.

 

Capital standards set for biggest banks

Federal banking regulators, resolving a lengthy debate, reached agreement Friday on new rules governing the amount of capital the country’s largest banks must hold to protect against potential losses.

 

Insurers ordered to refund excess profits

Florida Insurance Commissioner Kevin McCarty ordered The Chubb Group of companies to refund over $13 million in excess profits for workers’ compensation business to its customers.

 

Safe Home Confusion? Here’s Help

TAMPA – Don’t call the folks who run the program if you have a complaint about My Safe Florida Home, which drew tens of thousands of applications for state money that now won’t be available.

 

Homeland cuts upset S. Florida delegation

Miami and Fort Lauderdale took a significant hit in the latest round of federal antiterrorism grants, prompting grumbling from the region’s congressional delegation.

 

My Safe Florida Home Program

May: Then-Gov. Jeb Bush announces the program and the state Legislature allocates $250 million of general revenue funds to go toward grants and inspections to help Floridians fortify their homes.

 

Douglas C. Lyons column, July 20, 2007

There’s a conflict brewing in the Sunshine State that, if the combatants on both sides aren’t careful, could blow up into a full-scale war.

 

Rubio: Firm, lobbyist want too much of paralyzed teen’s money

Florida’s top legislative leaders on Thursday lashed out at the advocates who helped win $8.5 million in state compensation for a paralyzed former Broward woman, claiming lawyers and lobbyists want to take more than their fair share of the cash.

 

Senate Panel Investigates How Insurers Sell to Elderly

A Congressional committee has opened an investigation into companies that train sales agents to market themselves to older consumers through impressive-sounding credentials and controversial tactics.

 

Medicare contracts halted for 12,000 locally

WASHINGTON — Warning of an “immediate and serious threat to the health of their members,” Medicare has terminated its contract with a Vero Beach managed care company that covered 12,000 beneficiaries in a seven county area that includes Palm Beach, Martin and St. Lucie Counties.

 

FTC Finds Use of Credit Helps Consumers, Insurer Group Says

The Federal Trade Commission’s (FTC) study of automobile insurers’ use of credit has reaffirmed the strong connection between credit information and the risk of loss and has determined that its use helps to increase the availability and affordability of insurance for most consumers, according to the Property Casualty Insurers Association of America (PCI).

 

YouTube role grows as U.S. election nears

WASHINGTON (Reuters) – In 2004, YouTube didn’t exist. Three years later, politicians have learned to fear and revere the video-sharing Web site that has become a vital part of the campaign for the 2008 U.S. presidential election.

 

Jennings Plans To Run Again For Congress

SARASOTA – Christine Jennings, the Democrat who made headlines by challenging the accuracy of electronic voting machines that recorded her narrow loss in a southwest Florida congressional race, announced Thursday she will run again in 2008.

 

‘Aye’ On Immigration Bill Jolts Sen. Martinez In Polls

TAMPA – After the immigration reform bill he backed was defeated in June, U.S. Sen. Mel Martinez lamented, “I think we can now add immigration reform to the list of third rails of politics, like Social Security.”

 

Senate Panel Adds Billions for Health

WASHINGTON, July 19 — Defying a veto threat from President Bush, the Senate Finance Committee approved a major expansion of the Children’s Health Insurance Program on Thursday, with a majority of Republicans joining all Democrats on the panel in supporting the legislation.

 

Capital Standards Set for Biggest Banks

WASHINGTON — Federal banking regulators, resolving a lengthy debate, reached agreement Friday on new rules governing the amount of capital the country’s largest banks must hold to protect against potential losses.

 

Public Supports Automated Traffic Enforcement, Study Says

A new report by the Insurance Research Council (IRC) shows that public support for red light and speed cameras is strong and growing. The report, Public Attitude Monitor, Issue 1, Highway Safety, analyzes public opinion on a range of issues related to highway safety and traffic enforcement.

 

Are Workers Comp MDs Overprescribing Narcotics?

A study of workers’ compensation drug prescription costs by The Hartford has found evidence that narcotic pharmaceuticals continue to be overprescribed, according to an executive with the company.

 

Setting Our Kids Up For Tax Increases

At first blush, it’s tempting to support a bipartisan proposal to boost tobacco taxes to subsidize health care for more children. Who cares if smokers have to pay a $1 tax per pack so that more children could be covered by the State Children’s Health Insurance Program?

 

Healthcare bill to punish cigar makers

Your stogies could soon burn up more of your money.  If Congress passes a bill to help states pay for children’s health insurance, the tax on many cigars could jump from 5 cents to as much as $10 a stick. Cigar makers said those drastic hikes are enough to possibly shut them down.

 

Baby Boomers Need Dream Car Coverage

Niche market growing, as values rise for eight-to-10 million collector vehicles

Growth in the collector vehicles insurance market is revving up, driven by the bulging pockets of nostalgic baby boomers, according to specialists in this sporty niche.