Capitol to Courthouse Headliners: Thursday, Sept. 20

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Citizens to seek rate increase for some high-risk businesses

Citizens Property Insurance plans to seek a premium increase of more than 300 percent for wind-only business policies sold in high-risk areas, which the company says haven’t been changed since 1981.

 

Supreme Court limits insurance company liability

TALLAHASSEE, Fla. (AP) — Insurance companies can be required to pay only for actual damages and just those resulting from covered perils such as wind storms or fires – not other causes – the Florida Supreme Court said Thursday in two rulings affecting homeowner policies.

 

Cincinnati Contests Subpoena From Fla. Regulator

Ohio-based insurer Cincinnati Financial Corp. said it has asked a court to modify subpoenas received from Florida’s insurance department related to its reinsurance program and contacts with insurance trade associations.

 

PIP loss to hit state

More than insurance is at stake if personal injury protection lapses, experts say.

TALLAHASSEE – The end of Florida’s no-fault auto insurance system could undermine the state’s backup plan for covering the cost of hurricane damage.

 

Consultant blames insurers for rates

A state consultant says property insurance rates have not dropped as much as expected, in part because companies have increased profits, and that insurers have also failed to pass on reinsurance savings to consumers.

 

Businesses ask Rubio for more tax relief

The governor made a surprise visit during a meeting on tax cuts.

TALLAHASSEE – A powerful group of business leaders pledged support Wednesday for the super homestead exemption, but told House Speaker Marco Rubio that much more needs to be done to cut property taxes.

 

Dems In Statehouses Trouble Insurers

GRAPEVINE, TEXAS—Measures that could increase insurers’ lawsuit liability and cut into their bottom lines surfaced in statehouses across the country as Democrats took control in 2007, an official with the National Association of Mutual Insurance Companies said.

 

Insurers Cash In Without Cutting

TALLAHASSEE – Property insurance rates have not dropped as much as expected under a new law because, in part, some companies have increased profit rates, a state consultant told Gov. Charlie Crist and the Florida Cabinet on Wednesday.

 

Insurance Agent Accused Of Selling Fraudulent Policies

PORT RICHEY – An insurance agent, whose license was stripped last year after allegations he bilked clients out of their premiums, turned himself in Tuesday to face a criminal charge.

 

Insurance plan being hashed out in secret

Lobbyists gathered by Gov. Crist put their imprint on no-fault.

Behind closed doors in the Governor’s Office, lobbyists representing insurers, health-care providers and plaintiffs’ lawyers are negotiating whether millions of Florida drivers will still be buying personal-injury-protection coverage next month.

 

Firms’ global warming risks sought

Florida Chief Financial Officer Alex Sink on Wednesday announced she had joined 22 petitioners seeking to force public companies to disclose potential impacts of global warming on their businesses.

 

Home rating system may not be enough

Florida officials on Wednesday approved a new “home grading scale” that measures the ability of a house to stand up to a hurricane.

 

A Subprime Aftershock For Insurers? Maybe

NEW YORK —The subprime mortgage market collapse may not seriously affect insurers from an investment standpoint, but there are concerns about ripple effects and professional liability claims that could result, brokerage firm experts said.

 

Florida cuts ties to make a point

The pension fund will stop investing in firms at work in Sudan, Iran.

TALLAHASSEE – Florida made a political statement with its pension fund Wednesday by cutting investment ties with 57 companies doing energy-related work in the Sudan and Iran.

 

Officials: Insurance Rates Still Too High

TALLAHASSEE | Florida officials promised consumers that their property insurance rates would drop by 24 percent after the Legislature passed a sweeping new law that greatly increased the state’s role in the insurance market.

 

Insurers Hear Of Coast Protection Upgrades

WASHINGTON —The federal coordinator for Gulf Coast rebuilding briefed representatives of eight insurance companies yesterday on improvements to hurricane protection systems in the region and the status of rebuilding in flooded areas.

 

Focus of PIP debate narrows to medical costs

While efforts to find common ground on reforming Florida’s no-fault auto insurance law intensified Wednesday, the debate focused on limiting medical costs after accidents.

 

Hurricanes and travel insurance don’t mix

If a hurricane is headed to your destination, trip cancellation/interruption insurance will cover you if you cancel or your trip is interrupted, right?

 

Focus of session will be on cutting, speaker says

TALLAHASSEE — House Speaker Marco Rubio said Tuesday that lawmakers will use their October special session to trim $1 billion from the state budget, while it is less likely the Legislature will take up the issues of Seminole gambling or car insurance.

 

House Approves Terrorism Insurance Backstop Extension

The House of Representative approved by a vote 312-110 H.R. 2761, the Terrorism Risk Insurance Revision and Extension Act of 2007 (TRIREA), legislation that extends and revises the federal terrorism insurance backstop for 15 years.

 

Young drivers listen, but do they learn?

A tragedy focuses attention on the need for caution. A teacher hopes the lesson sticks.

ST. PETERSBURG — Few things escape coach Dave Redding as he sits at his command post above the driving range at Northeast High School.

 

AT&T planning to enter Florida broadband cable market

TALLAHASSEE, Fla. (AP) — AT&T Inc. announced Thursday that it will make a $750 million investment in broadband infrastructure in Florida as it seeks to woo customers from traditional cable companies in the race to beam TV and high-speed Internet into homes.

 

Auto Talks Move Away From Health Care Trust

DETROIT, Sept. 19 — General Motors and the United Automobile Workers have set aside discussions of a landmark health care trust, because they could not agree on how much G.M. would invest, people with knowledge of their negotiations said Wednesday night.