Capitol to Courthouse Headliners: Friday, October 31
Oct 31, 2008
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Ruling ahead for State Farm rates
During the four-day hearing, State Farm presented its rationale for the increase, stating that the company needs the additional revenue to build up reserves so it has sufficient funds to pay future hurricane claims. It also needs to make up lost revenue from the heftier mitigation discounts the company has been required to give to policyholders.
Windstorm credits may add appeal to Citizens
Citizens Property Insurance, the state-run insurer, began in September offering discounts of up to 45 percent for taking mitigation steps. As with hurricane coverage for single-family homes, apartments and condo units, the insurer was required to double mitigation credits it offered the associations.
Florida Insurance Council: Avoid catastrophe, fix Florida’s Cat Fund
The Florida Hurricane Catastrophe Fund’s Advisory Council recently acknowledged the fund’s real claims-paying capacity is only about half what it promised to Citizens Property Insurance Corp. and private insurers. It is even more terrifying considering how close Hurricane Ike came to hitting Homestead and Miami as a Category 3 or 4 storm.
Hillsborough farm owners to plead guilty to fraud
The owners of two prominent Hillsborough County strawberry and pepper farms have agreed to plead guilty to more than $1-million in crop insurance fraud and lying on income tax returns, according to federal court records filed Thursday.
Investors lose $700,000 in scam
Insurance agents Leesa and Belton Heiman used financial seminars at restaurants like Michael’s On East to attract mostly senior clients, then set up an investment meeting back at their office.
Suppliers back in business despite Medicare fraud claims
Scores of South Florida medical equipment companies have reopened for business — and continue to bill taxpayers — even though federal agents found scant evidence that the businesses existed.
More than 200 South Florida medical equipment providers shut down by Medicare last year were allowed to reopen — despite the fact they either had no offices or employees operating the businesses, according to a federal inspector general’s report.
Florida Budget Cuts Endangering Lives Of Disabled
State budget cuts are endangering the lives of people with mental and physical disabilities, say officials at agencies that help care for them. They warn of more cuts next year. After two years of shrinking government support, programs for the disabled are closing and cutting staff and services. If the trend continues, the service providers say, the consequences could be devastating.
Children lacking health coverage Florida ranks third in nation for number of uninsured children
The number is sobering – 797,000. That’s how many children in Florida do not have health insurance.
Judge blocks Florida’s law regulating political speech by 3rd parties
A federal judge blocked Florida’s sweeping law aimed at regulating political speech by third parties, ruling the state is infringing on the First Amendment right to free speech.
Avalanche of attorneys arrive to monitor state polls
Eight years after Florida’s election debacle, presidential candidates Barack Obama and John McCain have mobilized thousands of lawyers to monitor polling places across the state in search of irregularities.
Nevada, Michigan, Florida lead ‘underwater’ list
Here’s a shocker: almost half of Nevada homeowners with a mortgage owe more to the bank than their homes are worth.
Here’s another: If you add in the homeowners like them in California, Arizona, Florida, Georgia and Michigan, together they account for nearly 60 percent of all homeowners who are ‘underwater’ on their mortgages.
Florida Republicans Criticize Early Voting Extension
First it was paper ballots. Then it was automatic rights restoration for felons, including the right to vote.
Precincts making backup plans for election day problems
The operative word for precincts around the country bracing for a possible ground swell of voters on Nov. 4: backup.
Voter registration issues come to the forefront
While many Americans zero in on political campaigns in the run-up to Election Day, questions about how elections are administered are never far from the spotlight.
EDITORIAL: Floridians deserve more access to their government
A panel appointed by Gov. Charlie Crist has done its part to make government more open and responsive to the public.
Fla. Pregnant Pig amendment has lasting legacy
The “pregnant pig” amendment Florida voters adopted six years ago finally goes into effect next week, but its most prominent and enduring role has been to help curtail citizen initiatives.
Government watchdog groups hunt down turkeys, pork
Some call it pork. To others, they’re turkeys.
The labels carry a negative connotation, leading a tax-tired public to view the programs and projects as unnecessary or irresponsible spending by government officials.
Business bankruptcies at new high
Business bankruptcies in South Florida have reached a level not seen for almost 20 years. And the outlook remains grim for the near future, local bankruptcy attorneys said.
Tallahassee: It’s hard and costly to get there — direct from South Florida
Airline cutbacks have triggered serious woes for South Floridians who travel to Tallahassee.
Delta Air Lines discontinued nonstop service between Fort Lauderdale and the capital this month. That left Gulfstream International Airlines, which operates 19-seat turbo-prop airplanes, as the only option for direct flights.
TECO posts unheard-of drop in utility customers
Tampa Electric lost more customers than it added in the third quarter, an unprecedented reversal that slashed the utility’s profits and promises to delay power plant building.
Fla. health officials launch HIV/AIDS Web site
When Julia Llorente was diagnosed with HIV in 1989, the stigma of the disease made her feel as if she had contracted leprosy.
Greenberg Sees Grim AIG Picture, Urges TARP Program Use
Former American International Group chief executive officer Maurice “Hank” Greenberg has called on AIG management to enter the company in the federal bailout program while the company continues to rework its debt through additional borrowing.
American Insurance Agency: The Insurance Industry Doesn’t Need Subsidies
The Treasury Department reached out to insurance companies last week to gauge our interest in participating in its Capital Purchase Program (CPP) — where the government provides capital to distressed companies in the form of equity stakes.
Mississippi Insurance Commissioner: State Farm did not violate law
An investigation into State Farm’s post-Hurricane Katrina practices revealed that while some Mississippians’ claims were handled inappropriately, no specific violations of law occurred and the company did not scheme to mistreat policyholders.
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