Capitol to Courthouse Headliners: Thursday, November 12
Nov 12, 2009
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Florida Insurance industry’s financial strength needs watching
After the devastating hurricane seasons of 2004-05, many insurance companies stopped writing new business in Florida and some went into receivership. Homeowner markets dried up and the remaining companies increased rates.
The New York Times: Fla. Tries to Escape Its Overexposure to Storm Damages
Florida is launching a new assault on hurricanes — with percentage points.
The state’s vast public insurance program is seeking a 7.5 percent average increase for its riskiest policies, covering some 300,000 homes on exposed beaches and in wind alleys that have for years received discounted insurance.
State and federal drywall investigators at odds
Inquiry led to deep strains between federal and state agencies, records indicate.
As the investigation into contaminated Chinese drywall unfolded, state and federal agencies repeatedly assured the public that they were successfully cooperating in getting to the bottom of the problem.
Lawmakers support EVAC
Volusia County’s legislative delegation made the right decision Tuesday when it agreed to protect EVAC, the state-of-the-art ambulance service that provides emergency medical care and transport throughout the county. EVAC does an excellent job, and saves county taxpayers money despite a $3.5 million annual subsidy from county government.
Report: Florida among 10 states facing budget disasters
Florida is among nine states barreling toward an economic disaster similar to California’s ongoing fiscal crisis, a new study warns.
Florida GOP leaders demand emergency meeting
Concerned Republicans say they aren’t out for the head of Florida GOP Party Chairman Jim Greer.
State Rep. Kelly may challenge Grayson
Despite already having seven candidates who have filed to run against U.S. Rep. Alan Grayson, the Republican Party continues to hunt for a prominent challenger for the controversial Orlando Democrat.
Marsh & McLennan Agency begins growth plan with Texas buy
Marsh & McLennan Agency L.L.C. has acquired Houston-based Insurance Alliance in the first of what it says will be a series of planned acquisitions to build out the small- and middle-market agency.
Coast Guard considers expanding New Orleans vessel ban
After last year’s Hurricane Gustav set loose a fleet of barges in the Industrial Canal, damaging a floodwall and a warehouse, the Coast Guard banned vessels from several New Orleans-area waterways during storms.
Securitization Likely to Become More Expensive
The $1 trillion market for bonds backed by consumer loans is facing fresh challenges on its road to recovery, thanks to some accounting-rule changes designed to have issuers, mainly banks, retain a larger stake in these deals.
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