Capitol to Courthouse Headliners: Monday, June 4

Jun 4, 2007

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Commissioner Welcomes Eight New Property & Casualty Insurers To Florida

TALLAHASSEE (06/04/2007) – The Florida Office of Insurance Regulation finished a busy week before hurricane season finalizing two applications bringing the total to eight new insurers entering the property and casualty insurance marketplace in Florida since January 1, 2007. The insurers represent a myriad of different types of insurance entities including surplus lines, alien, foreign, and domestic property and casualty insurers. Together these entities represent $1.2 billion in capital investment.

 

Legislative leaders agree to presidential primary tax relief vote

TALLAHASSSEE — Voters would get a chance to approve property tax relief and restructuring proposals during the Jan. 29 presidential primary election, legislative leaders agreed Monday.

 

Democratic Lawmaker Indicted

WASHINGTON, June 4 — Representative William J. Jefferson of Louisiana was indicted today on corruption charges in connection with an inquiry that has yielded reports of cash stuffed into home freezers and murky financial transactions with several African countries in what Justice Department officials called a sordid episode of corruption that touched two continents..

 

Court Backs Firms on Credit Notification

WASHINGTON — The Supreme Court ruled in favor of two large insurers Monday, limiting the circumstances under which companies must tell customers their credit ratings are affecting the amount they pay.

 

Crist meets Jordanian king, winds up Middle East trip

AMMAN, Jordan · Gov. Charlie Crist met with King Abdullah II of Jordan on Sunday, discussing topics from tourism to golf-course development.

 

Head of storm-aid effort quits as projects pile up

The Florida manager of a half-billion-dollar FEMA program to fortify public buildings and improve flood-prone roads quit Friday, with money set aside nearly three years ago for the projects remaining largely unspent.

 

Storm Front

Once, you could breathe a sigh of relief if a hurricane didn’t strike your part of Florida. That’s still true if a storm misses your home. As for your finances — now, we all go down together.

 

Ex-Shaw fans fund Klein’s bid for House

A fund-raiser in Fort Lauderdale last week for freshman Democratic U.S. Rep. Ron Klein illustrates the difficult task the GOP faces in trying to recapture the Palm Beach-Broward seat that Republican Clay Shaw held for 26 years.

 

Most gas stations have generators ready to go

Most South Florida gas stations near storm-evacuation routes and major highways have complied with a new law requiring them to be pre-wired for backup power generators by June 1, the state Department of Environmental Protection reported Friday.

 

Beyond friendship

For Charlie Crist and Robert Wexler, the most important mission in Israel may be in building their own alliance

TEL AVIV – For Florida Gov. Charlie Crist, going to Israel is about building friendships with a vital U.S. ally, an essential stepping stone for any ambitious American politician.

 

SNS buying AXA’s Dutch insurance ops for $2.35 bln

AMSTERDAM (Reuters) – Dutch financial group SNS Reaal said on Monday it will acquire the Dutch insurance operations of France’s AXA for 1.75 billion euros ($2.35 billion), which will be partly funded by an equity issue.

 

Amex to sell private bank unit within weeks: source

ZURICH (Reuters) – New York-based credit card and travel services company American Express Co is expected to sell its private banking business within weeks, said a source familiar with the matter.

 

S&P Experts See Latest Pricing Downturn as ‘Something Different’

Experts say market conditions in the property/casualty insurance and reinsurance sector indicate the hard market, however short, is now over, and the industry is witnessing the beginning of the pricing cycle’s downside.

 

STORM PREPARATION

Documenting value of prized possessions

The IRS offers a downloadable workbook for homeowners and renters for documenting the value of their possessions should there loss or damage in a disaster. Find it online at www.irs.gov/pub/irs-pdf/p584.pdf or by calling 800-829-3676, toll-free, and requesting Publication 584, Business Casualty, Disaster, and Theft Loss Workbook. It includes columns for fair market value before and after damage, for the difference between the two and for expected insurance payout. Take photographs or videos to accompany it and store them securely. Making copies and sending them to a family member or friend out of state might be a smart move, too.

 

Message Man

The early years of the new century gave Republicans reason to be hopeful that their courtship of Hispanic voters was working. In presidential races, for example, the GOP’s share of Hispanic voters increased from the 35% who voted for George W. Bush in 2000 to the 44% Bush got in 2004.

 

Health Advocates Pleased With Veto

BARTOW – Local mental health advocates are pleased with Gov. Charlie Crist’s veto of a bill that would have let HMOs covering behavioral health care spend less of their Medicaid payments on patient care.

 

New Florida reps Mahoney, Buchanan trying to earn their stay in Washington

WASHINGTON, DC — Democrat Rep. Tim Mahoney and Republican Rep. Vern Buchanan have a unique tie that both are trying to shake: a lot of people think they’re in Washington by a fluke.

 

You can save money by changing insurer, coverage for your home

Many South Florida homeowners fit into one of two categories: Their annual insurance premiums have increased dramatically, or they’ve received notice their coverage won’t be renewed.

 

Increased interest pumps up online banks

It was a no-brainer for Jim Gilkeson when he found an Internet bank offering a money-market account paying five times the average interest rate offered by conventional banks. He moved $10,000 into the online account two years ago and has earned at least twice as much on his money to date than if he had gone with the best conventional rates available, he says.

 

Building code officials get more authority

As Broward County prepares for another hurricane season, its building code enforcers have new powers to crack down on state-licensed contractors who break the rules.

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