Capitol to Courthouse Headliners: Thursday, March 19
Mar 19, 2009
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Florida CFO Weighs In Against Credit Scoring
Florida Chief Financial Officer Alex Sink said she is “unimpressed” with auto insurers’ justifications for using credit information in determining rates, and she voiced support for bills that would ban the practice.
Florida Insurance Commissioner Comments on Insurers’ Use of Credit Scores
Florida Insurance Commissioner Kevin McCarty on Thursday issued a statement in support of the National Association of Insurance Commissioners’ proposal to review insurance company use of consumer credit scores in their underwriting and rate setting processes.
Citizens’ wind-only policyholders may see premiums increase
Port St. Lucie resident Massoud Kaye had to pick up the state-run Citizens Property Insurance last June when the company that had insured his home for several years, Liberty American Insurance Group, pulled out of the state.
CFO Sink’s statement on People’s Trust consent order with OIR
Florida Chief Financial Officer Alex Sink today released the following statement in response to the Office of Insurance Regulation’s (OIR) Consent Order with People’s Trust Insurance Company.
After multi-year investigation, SEC charges Clearwater’s Sky Way Global execs
The Securities and Exchange Commission has filed a civil injunctive action against Sky Way Global LLC and its principals – Brent C. Kovar, Glenn A. Kovar and James S. Kent – alleging they defrauded investors through an unregistered fraudulent offering of stock and orchestrated a pump-and-dump scheme of Sky Way Communications Holding Corp.
Senator Mike Fasano Announces FEMA Approves Pasco’s Regional Hurricane Shelter
State Senator Mike Fasano announces that the Federal Emergency Management Agency has issued its approval of the Pasco County Regional Hurricane Shelter.
Bonita Springs won’t pursue FEMA money for flood-prone neighborhood
Residents in a little section of Bonita Springs will likely have to wait through another hurricane season before finding reprieve from floodwaters that so frequently overtake their streets.
Fix shaky for rocky Florida Medicaid pilot plan
Legislators say their bills could be swamped by budget crunch concerns.
A state experiment that has transferred thousands of the First Coast’s poorest residents from a government-run health insurance program into private HMO-style plans could soon be killed or undergo major changes at the hands of state lawmakers.
Florida high court upholds state lobbying ethics law
Florida’s tough lobbyist ethics law that went into effect three years ago complies with the state constitution and was properly passed, the state Supreme Court ruled Thursday.
Crist unveils plan to boost trade
With Port of Jacksonville cranes at his back, Gov. Charlie Crist on Wednesday unveiled a new program aimed at increasing the state’s foreign trade.
Governor invites Floridians to review state’s use of federal stimulus money
Governor Charlie Crist today unveiled the Florida Office of Economic Recovery’s Web site that allows the people of Florida to review state and local governments’ use of federal funds coming to Florida as a result of the federal American Recovery and Reinvestment Act of 2009.
Florida Circuit Court Clerks Win Battle In War To Retain Power
Florida’s circuit court clerks have won a compromise in the state Senate, killing part of a bill that would have taken away their power to collect fees and perform other duties.
In Tallahassee today, it’s all about the money
From reducing prison costs to grappling with the state’s prepaid college funds, the state Legislature turns its attention Thursday to virtually every aspect of the state budget.
Florida‘s former chief medical officer files for U.S. Senate seat
Dr. Marion Thorpe, Florida’s former chief medical officer who last year ran unsuccessfully for Congressional District 23, which includes parts of Martin and St. Lucie counties, against U.S. Rep. Alcee Hastings, has filed to run for U.S. Senate.
Democrat calls GOP colleague ‘jerk’
The national fight over ensuring secret ballots for union votes erupted Wednesday in an emotional quarrel between two Palm Beach County lawmakers that included one calling the other a “jerk” in a Florida House committee meeting.
Florida‘s growth fizzle is official
Pummeled by the real estate market crash and the national recession, Florida’s growth fizzled to less than 1 percent last year, according to new U.S. census data.
Senate Panel Hears Debate Over Insurance Regulation
The head of W.R. Berkley Insurance Co. testifying at a Senate hearing on the future of insurance regulation voiced support for creation of a “independent” federal insurance regulator as the best means of regulating property-casualty insurance.
Bill Would Repeal Insurers’ Antitrust Shield
Two Democrats in the U.S. House introduced legislation Thursday that would repeal the antitrust exemption afforded the insurance industry by the McCarran-Ferguson Act, but would retain the authority of states to regulate insurance.
OFC Boosters, Detractors Make Points To Congress
Supporters and opponents of a federal role for insurers used their appearances at a congressional hearing on American International Group’s bonus payments to reiterate their views Wednesday on a proposed optional federal insurance charter.
Regulators: U.S. systemic risk watchdog not panacea
Two top U.S. bank regulators offered competing views on the value of creating a so-called systemic risk regulator to oversee broad threats to the financial system, with one saying the move would be only of “incremental benefit,” during testimony before the Senate Banking Committee on Wednesday.
Risk Assessment In Recession Can Save A Company, Says Marsh
Evaluating a corporation’s risk exposure during this time of economic upheaval can not only save money but could also mean the difference between surviving and not, according to experts at Marsh.
NAIC To Send Envoy To International Regulator Group
The National Association of Insurance Commissioners (NAIC) Executive Committee has voted to appoint a staff designee to the International Association of Insurance Supervisors (IAIS) Executive Committee to bring consistency to NAIC messages to the IAIS.
Montana Passes Bill Easing Captive Rules
The Montana Captive Insurance Association, Inc. (MCIA) said that a measure passed by the legislature that eases requirements for captive operations should strengthen the state’s position as a captive domicile.
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