Capitol to Courthouse Headliners: Friday, May 1
May 1, 2009
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Insurance Rate Decision Goes to Senate Vote Today
The Senate will vote today on a bill that would allow 15 of the nation’s largest property insurance companies basically to set their own rates in Florida.
Florida House passes sweeping property insurance bill
Floridians risk would be reduced
The Florida House approved compromise legislation today that would increase homeowner insurance rates statewide but reduce Floridians’ financial risk of having to pay for damages if a major hurricane hits.
State Farm talks with regulators continue despite shift to the courts
State Farm said it’s still in talks with state regulators to iron out its withdrawal plan from Florida’s property insurance market, even as the dispute heads to the courts.
Property insurance rates likely to rise
Your property insurance rates may be rising based on decisions Florida lawmakers will make in the next two days.
THE NEWS SERVICE OF FLORIDA: Workers’ Comp Issue Left To Last Day
Lawmakers have left to the last day for non-budget bills the question of how to respond to a 2008 Supreme Court decision that nullified a fee schedule for lawyers in workers compensation cases.
THE NEWS SERVICE OF FLORIDA: Local ‘Crash Taxes’ Crash
Local governments would no longer be allowed to charge motorists for crashes under a bill that passed the House Friday and now on its way to the governor.
Endurance sets sight on $200m Florida sidecar
Bermudian (re)insurer Endurance Specialty Holdings is marketing a collateralized Florida-only sidecar vehicle to provide it with additional reinsurance capacity at the fast-approaching US mid-year renewal season, The Insurance Insider can reveal.
Editorial: Give consumers a choice in insurance
With two days left in the Florida Legislature’s regular 60-day session, state Rep. Bill Proctor has a bill in the state Senate that will let consumers decide what property insurance they want.
Hub Sells Some Of Florida Book To Former Owner Fortun
Chicago-based insurance broker Hub International Ltd. said it is selling some of its Florida book of business back to former brokerage owner Hector Fortun. Transaction terms were not released.
Following state Senate, House OKs stricter seat-belt law
For more than 20 years, wearing a safety belt has been mandatory for drivers and front-seat passengers in Florida.
Children’s health care bill passes legislature
A bill to streamline the Florida KidCare program is on the way to Gov. Charlie Crist after it won unanimous approval from the House this morning.
Florida Passes Bill Giving Insurance Firms Credit for School Vouchers
A bill to strengthen a private school voucher program for children from low-income families is going to Florida Gov. Charlie Crist.
CFO Sink urges continuation of My Safe Florida Home program with existing funds
Florida Chief Financial Officer Alex Sink today sent a letter to Senate President Jeff Atwater and House Speaker Larry Cretul urging the continuation of the successful My Safe Florida Home program with half of the funds remaining in the program.
Florida Deputy Insurance Commissioner Testifies about Life Settlements before U.S. Senate Committee
Florida Deputy Insurance Commissioner for Life and Health Mary Beth Senkewicz testified Wednesday in Washington, D.C., before the U.S. Senate Special Committee on Aging on the subject of life settlements in the insurance industry.
Mourning kidney bill going to Fla. governor
A kidney transplant bill named for former Miami Heat star Alonzo Mourning is headed for a slam dunk in the Florida governor’s office.
Legislature takes first step toward curbing Florida’s pill mills
A bill passed by the Legislature could help contain the growth of illegal drug sales that made Broward County the nation’s ‘pill mill capital.’
Florida lawmakers on Thursday approved a plan to monitor the prescription drugs sold by doctors and pharmacists throughout the state, hoping to shed South Florida’s reputation as the fountainhead of black-market painkillers flooding the eastern United States.
Federal judge declines to unseal court document in Florida Mutual Benefits insurance fraud case
A federal judge has declined to unseal about 30 court documents in a highly publicized insurance fraud case because they contain secret information about a grand jury investigation into possible corruption by former and current public officials in South Florida.
Much remains for lawmakers to decide in extended session
Prescription drug fraud. Phone rates. Worker’s compensation. Citizens Property Insurance. Commuter rail in Central Florida.
Last call for bills as Florida legislative session winds down
Hear that whimpering? That’s the sound of bills dying as the 2009 legislative session winds down.
House, Senate duke it out today
Lobbing bills at each other across the Capitol, the Florida House and Senate enter the final full day of the legislative session scrambling to resolve major issues.
Troutman Banned From State Senate After Spat
Troutman blamed his cousin, Sen. J.D. Alexander, for the Senate’s action.
Rep. Baxter Troutman, R-Winter Haven, was banned from the Senate floor Thursday for an altercation with Sen. Mike Haridopolos.
Crist’s U.S. Sugar buyout withstands a Senate assault
The state Senate narrowly defeated a bid to derail the U.S. Sugar buyout, preserving Gov. Charlie Crist’s top priority but exposing deep reservations over even the scaled-down $533 million deal.
Gambling deal unlikely to be reached
Though they’re raising fees and taxes to fill a budget hole, state lawmakers appear likely to reject at least $355 million from gambling interests because they’re struggling to find common ground.
Florida seaport security headed for centralization
A proposal to streamline state port security requirements is headed to the governor after clearing the Florida Senate on Wednesday.
If a seaport worker at the Port of Miami who already has a security clearance travels 30 miles north for a job at Port Everglades, the worker must pay for a separate security screening. Cost: $250.
Transportation bill may hamper Alligator Alley privatization
A provision that Rep. Scott Randolph, D-Orlando, and Sen. Dave Aronberg, D-Greenacres, helped attach to a larger transportation bill would require that all plans to privatize state roadways first be reviewed by the state’s Council on Efficient Government — a deal that could affect a proposal to privatize Alligator Alley.
Amendment barring use of taxpayer funds in state elections headed to ballot
Voters in 2010 will get a chance to decide whether to stop using taxpayer money on campaigns for governor and the Cabinet after the Florida Senate voted 29-11 today to place a constitutional amendment on the ballot.
So long, SunRail: Senate vote likely dooms project
The SunRail commuter train derailed on the Senate floor Thursday, likely ending Central Florida’s five-year quest for the $1.2 billion project.
Crist doesn’t share GOP view on Arlen Specter
A day after national Republican Party leaders bid “good riddance” to a party-switcher in the U.S. Senate, Gov. Charlie Crist said Pennsylvania’s Arlen Specter should “do what’s in his heart.”
Federal Budget Authorizes $2.5 Billion for NASA Shuttle Fleet
U.S. House and Senate leaders have agreed to authorize $2.5 billion to keep the U.S. space shuttle fleet flying through 2011, if such an extension is necessary to complete currently planned missions to the international space station.
Florida senator’s bill takes aim at Space Florida spending
Sen. Mike Fasano wanted to send a message Wednesday: He didn’t approve of Space Florida’s spending nearly $300,000 on lobbyists last year.
Brokers Outline Swine Flu Steps As U.S. Records A Death
As the United States recorded its first swine flu death, insurance brokerages were offering recommendations on moves businesses and other organizations should make, and one firm said actions now are “critical” to deal with the epidemic.
NAIC Hears Credit Scoring Arguments
Credit scoring supporters and detractors were making their arguments at a hearing today before the National Association of Insurance.
Louisiana House Panel OKs Homeowners Insurance Deductible Restriction
Insurance companies should be restricted in their use of so-called “named storm” deductibles in Louisiana, even though the change will probably trigger a rate increase for homeowners, a House committee voted on Wednesday.
Swine Flu Claims Possible For Comp, Life Insurance, Expert Says
The property-casualty insurance sector most likely to see any swine flu claims would be the workers’ compensation line, an insurance expert who has studied influenza pandemics said today.
Ruling clears way for 30% insurance-rate hikes on N.C. coastal properties
Owners of homes in some coastal areas of North Carolina could see their property and casualty insurance rates jump by as much as 30 percent by the end of the week after a ruling Wednesday issued by Wake County Superior Court Judge Ron Stephens.
AIG’s P/C Arm Eager to Split; New Name in Question
American International Group’s property/casualty division is moving swiftly to break ties with its parent company, setting itself up to be a stand-alone company, said AIG Chief Executive Edward Liddy.
Ex-General Re senior vice president sentencing to a year in prison for accounting fraud
A former executive of Connecticut-based General Re Corp. was sentenced Thursday to a year and a day in prison for his role in an accounting scandal that authorities say cost shareholders of American International Group Inc. more than $500 million.
Eight Trades Write Congress In Support Of OFC
Eight industry trade groups supporting an optional federal insurance charter told key members of Congress in a letter yesterday that financial services regulatory reform should include a dedicated federal insurance regulator.
Texas coastal windstorm policies may increase 5% per year
Coastal residents insured by the state windstorm fund could see increases of 5 percent per year for the next three years under a bill passed Thursday by the Senate.
Katrina Fraud Allegations Against Mississippi Mayor Detailed
Gulfport, Mississippi Mayor Brent Warr, the highest-ranking public official charged with Hurricane Katrina fraud, made numerous false statements about the living arrangements of his family and a beachfront home damaged by the 2005 storm, federal prosecutors say.
States tweak hurricane evacuation routes
Alabama and Louisiana coastal residents fleeing future hurricanes will have to travel farther north along Mississippi highways before exiting.
Marsh Establishes ‘Protected Cell Captives’ in Wash. DC, Isle of Man
Marsh announced that it has established protected cell captive, also known as segregated account, insurance facilities in Washington, D.C., and Isle of Man “to serve the needs of small and mid-sized businesses seeking cost-effective risk-financing alternatives, as well as larger firms looking for ways to segregate retained risks associated with joint ventures, strategic alliances, and other special situations.”
Insurer Oversight Is Not Yet Broken
“Inefficient” financial regulation turns out to have its charms — at least that’s the argument of state insurance regulators, many of whom oppose the federal government’s attempt to gain oversight of the industry.
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