Capitol to Courthouse Headliners: Thursday, Nov. 29

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Florida freezes state investment fund

In a decision that could disrupt the finances of dozens of cities and counties across the state, Gov. Charlie Crist and other top officials on Thursday froze the assets of a $15 billion investment fund used by local governments.

 

Crist seeks money for ads

Inside the cozy, wood-paneled confines of the private Governor’s Club, Gov. Charlie Crist made a personal pitch for money – big money – to bankroll passage of a plan to cut property taxes.

 

Expect insurance rates to rise, expert warns

When it comes to homeowner insurance rates, the news still isn’t pretty for Florida consumers.  Bob Hartwig, chief economist for the Insurance Information Institute, an industry trade group, said Florida remains the most catastrophe-prone state because of its exposure to hurricanes.

To access his presentation, click here: 

 

Citizens rates to remain unchanged

Citizens Property Insurance Corp. will have a $2.4 billion surplus by year’s end, but don’t expect it to lower any premiums in 2008, a Citizens executive told area customers Wednesday night.

 

Sasso plans to run for state House seat

Former Cocoa Beach City Commissioner Tony Sasso announced his candidacy for Florida House of Representatives, District 32 being vacated by Bob Allen.

 

SIIA Reps, Treasury Officials Discuss Tax Proposal

Captive insurance industry representatives fighting an IRS proposal that would add to their tax burden said they met yesterday with Department of Treasury officials who seemed “genuinely interested” in hearing from them.

 

Bermuda Generated 9,600 U.S. Insurance Jobs In 2005

The Bermuda insurance and reinsurance industry was responsible for over 9,000 insurance jobs in the United States in 2005, according to an industry survey by a Bermuda group.

A copy of the report is available at: www.abir.bm/downloads/ABIREconomicImpact.pdf.

 

Naming of too many storms may be costing you money

A controversy is brewing over decisions of the National Hurricane Center to designate several borderline systems as tropical storms.

 

Runaway coastline condo building adding to existing risk

TALLAHASSEE, Fla. — The nonstop coastal building across Florida has pushed the insurance risk in the state to nearly $2 trillion, keeping it the diciest place in the world for insurers, an industry analyst said Thursday.

 

FEMA paid tribe’s hotel tab

As Hurricane Frances headed toward South Florida in September 2004, members of the Seminole Tribe of Florida evacuated to their Hard Rock Hotel & Casino in Hollywood. Later, they sent taxpayers a bill for $123,130.

 

Tobacco-deal lawyer indicted in Miss.

An attorney who helped negotiate a multibillion-dollar settlement against tobacco companies in the 1990s and has sued insurers over unpaid Hurricane Katrina claims was indicted Wednesday in a suspected scheme to bribe a Mississippi judge.

 

Florida faces costs due to immigration, study finds

Florida, with the nation’s third largest immigrant population, faces rising costs linked to higher poverty rates, lower educational achievement and lack of medical insurance that plague those families, according to a report released today.

 

INTERVIEW-AIG eyes consumer finance, M&A in South Korea

SEOUL – American International Group is interested in expanding into consumer finance in South Korea and may buy Korean companies to grow its businesses, the head of its Korean life insurance unit said on Thursday.

 

FEMA to close post-Katrina trailer parks
 
The Federal Emergency Management Agency is planning to close by Friday as many as 13 trailer parks in Louisiana where victims of the 2005 hurricanes are currently living.

 

Our view: Turn up the heat

Friday marks the end of hurricane season and for the third year in a row the Space Coast was spared a hit. 

 

Gloves come off in GOP presidential debate

With time and tempers in the presidential primary running short, the Republican candidates clashed in a bare-knuckled debate that knocked front-runner Rudy Giuliani off stride and showcased underdog Mike Huckabee.