Capitol to Courthouse Headliners: Monday, September 29
Sep 29, 2008
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2 State Finance Managers Resign After Critical Audit
Two top executives in the state’s Department of Financial Services have been forced out after an audit that was critical of the agency’s internal controls.
More Floridians dropping spiraling windstorm coverage
Fed up with insurance prices in Florida, Pompano Beach resident Charles Fetten dropped windstorm coverage on his home two years ago and hasn’t looked back. That is, until this month when hurricanes Gustav, Hanna and Ike swirled dangerously near South Florida. ‘This year, I’m looking at it thinking, ‘Whoops, maybe I should have [coverage],” he said.
Florida’s Pension, Hurricane Funds Have Millions In WaMu Holdings
State officials on Friday were assessing what effect Washington Mutual’s failure Thursday would have on stocks, bonds and other investments the state had in the bank.
Jacksonville insurer caught in market’s carnival ride
During these strange times in the financial markets, some things stand out as weirder than others.
For example, follow the bouncing ball that represents the recent stock price of FPIC Insurance Group Inc. The Jacksonville-based medical malpractice insurer had been trading at record-high levels in the mid-$50s recently. Then on Sept. 19, the stock jumped $9.53 at the opening bell to $65.61 and reached $71.50 before the morning was out. But that afternoon, the stock plummeted to $51.62, almost $20 off its morning high, before closing at $58.38.
COLUMN: Does bashing insurers still work with voters? Ad makers hope so
Florida politicos are dusting off their insurance-bashing TV commercials this campaign season, demonstrating yet again that villains and cash cows can be one and the same.
Fixing Florida’s Beach Erosion Is Expensive
As Tropical Storm Fay danced around the coast this summer, making a record number of landfalls, it also did a number on Florida’s beaches. The storm eroded sand from south Palm Beach and Lantana in Palm Beach County, as well as from south Ponte Vedra and Vilano beaches in St. Johns County. In the latter case, five homes are threatened by erosion.
Hefty fines among new Fla. laws
Stunt riding on a motorcycle or driving any vehicle at excessive speed could prove damaging to your financial well-being as well as your physical health starting Wednesday as several new Florida laws take effect.
Florida Researchers Deploy New Hurricane Data Weather Balloons
A fleet of special balloons released over South Florida may soon help hurricane forecasters better predict the path of storms. But at a cost of up to $2,000 each, these aren’t your average birthday party decorations.
Governor Crist Appoints Two to the Board of Directors, Florida Healthy Kids Corporation
Governor Charlie Crist today announced the following reappointment and appointment:
Floridians with disabilities protest loss of state services
Cindy Norris cannot speak on her own. But with the help of a talking computer that is mounted on her wheelchair and picks up tiny flicks of her fingers, she is able to communicate. And patiently, one letter at a time, she spelled out her thoughts on state budget cuts that are devastating to many Floridians with developmental disabilities.
Churches flex influence on health
There are lots of reasons why many Americans don’t go to the doctor. They don’t have insurance. They’re too busy. They don’t trust the traditional health-care system.
Florida House, Senate races heat up
Legislative campaign most expensive in state’s history
Boulware has raised nearly $300,000 – along with about $38,000 worth of “in-kind” help, mostly from the state GOP – compared to $141,437 reported by Democrat Michelle Rehwinkel Vasilinda. He enjoyed a cash-on-hand advantage of nearly $100,000 as of Sept. 12.
Upheaval unlikely in state capital
For all the talk of change in this year’s presidential election, don’t expect much of it in Florida’s Legislature.
COLUMN: Next Senate Presidency Still Up in Air
For most of this year, it’s been widely assumed that Sen. Mike Haridopolos, a Republican from Brevard County, would be Senate president for the 2010-2012 term.
District 51: Rumors of changes in party, ballot carry a grain of truth
At least two rumors began flying less than 24 hours after Republican Terry Sanchez dropped out of the race for state House District 51.
Political newcomer challenges Rep. Kiar
The race for House District 97 pits incumbent Martin Kiar, a Democrat from Davie, against political newcomer Todd Goberville, a Republican from Parkland.
Different stances clear-cut in race
On one ticket, voters have a veteran lawmaker who’s entrenched in the debate about reviving the economy.
Mahoney draws fire for ad with Marine in uniform
This time, Democratic U.S. Rep. Tim Mahoney found real live Americans to promote his record on veterans issues. But his latest campaign ad is drawing controversy.
Several South Florida congressmen besides Robert Wexler live outside their districts
Think your congressman lives in the same district as you? Don’t bet on it.
Judge Allen appeals ethics reprimand
Judge Michael E. Allen is unwilling to take a reprimand for alleged violations of judicial ethics and keeps up a spirited defense of his right to publish scathing opinions.
Everglades restoration buyout deal may not close door on U.S. Sugar
Everglades deal may not close company’s doors
A “Going Out of Business” sign could be premature for U.S. Sugar Corp.
Financial matters come first at Water Congress meeting
Money trumped conservation as the top issue for the future of the state’s water supply for more than 100 experts gathered for what was dubbed the Florida Water Congress.
State senators seek answers into Alley leasing proposal
Sen. Dave Aronberg says Florida Department of Transportation has been less than forthcoming with official, public documents concerning the possible leasing of Alligator Alley to foreign businesses.
Chancellor’s Exit Means Tough Search For State
A lot was at stake last spring: The leader of Florida’s public universities warned top lawmakers that his schools were weakened by budget cuts and that a planned move by the Legislature to overhaul his system of higher education would erode its credibility.
Will Florida attract the boomers?
Each and every day from now until 2023, roughly 10,000 Americans will blow out the candles on their 60th birthday cake. That means four million people a year face impending decisions on whether to stay where they have been earning their livelihood, or to indulge their dreams by moving to their idea of retirement heaven.
Congress Extends National Flood Insurance Plan Until Next March
In addition to working overtime on the Wall Street bailout over the weekend, the Senate also approved legislation to extend the National Flood Insurance Program until March 6, 2009.
Public Hearing In Mississippi to Highlight Coastal Insurance Issues
The Mississippi House of Representatives Insurance Committee will host a public hearing to discuss housing and insurance issues in the wake of Hurricanes Katrina, Gustav and Ike.
Following is the testimony presented by Lawrence S. Powell, PhD before the United States House of Representatives Financial Services Committee Oversight & Investigations Subcommittee on May 21, 2008, by:
NAIC Ideas On AIG, OFC Are Flawed Says Think Tank
The National Association of Insurance Commissioners has come under fire from a non-profit think tank for its contention that the problems of American International Group are an argument against federal insurance regulation.
Hearing Focuses on Loss in Insurance Scheme
Five insurance executives convicted of a scheme to manipulate the financial statements of the world’s largest insurance company were back in court as a judge tries to put a price-tag on their crimes.
OPINION: Behind Insurer’s Crisis, Blind Eye to a Web of Risk
“It is hard for us, without being flippant, to even see a scenario within any kind of realm of reason that would see us losing one dollar in any of those transactions.”
–Joseph J. Cassano, a former A.I.G. executive, August 2007
Wachovia’s Insurance Assets Not Part of Citigroup Deal
Wachovia Insurance Services, previously the insurance brokerage arm of Charlotte, N.C.-based bank holding company Wachovia Corp., will become a stand-alone operation after the absorption of the company’s banking assets by Citigroup Inc., a company spokeswoman confirmed.
Industry Sees Need for Government Help for Very Big Cats
Though specific proposals to create a federal catastrophe fund or reinsurance backstop continue to divide the industry, insurance insiders polled by BestWeek seem to agree the private insurance market would be stressed to handle events causing more than $100 billion in insured losses.
Award-Winning Independent Agencies
The soft insurance market has put pressure on all independent agencies to step it up when it comes to value-added services to protect their books of business from poaching by price-driven competitors. The winners in the seventh annual National Underwriter Commercial Insurance Agency of the Year award program truly proved their mettle this year, standing firm as risk managers for their clients no matter what the pricing environment.
A Glimpse Into Personalized Medicine of the Future
Perhaps it was the purple starry night backdrop or the strange silver poles lined up on stage, but G. Steven Burrill seemed to have arrived from the future. Addressing AdvaMed 2008, a medical technology industry conference in Washington last week, he spoke about the upcoming era of personalized medicine.
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