Capitol to Courthouse Headliners: Thursday, Sept. 6

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Budget-cutting session called off

Unable to agree on how or where to cut more than $1 billion from the state budget, legislative leaders on Wednesday canceled a special session scheduled for later this month, but said they plan to meet later this year.

No-fault’s future looks dim

Florida’s controversial no-fault auto insurance law may indeed be on the road to extinction now that the special legislative session planned for later this month has been canceled.

Judge Dumps Antitrust Charge Against Brokers & Insurers

A federal judge has dismissed part of a class action suit brought against insurance brokers and carriers that claimed the industry conspired to control the insurance market.

Hospitals Urge Crist To Act On No-Fault Sunset

Two hospital groups gave Florida Gov. Charlie Crist a letter today arguing that the expected expiration of the state’s no-fault auto insurance law qualifies as a topic for the special legislative session on the budget because of the financial impact involved.

P-C Groups Cheer Governors’ OFC Opposition

WASHINGTON —Three property-casualty insurance agents’ groups are lauding the National Governors Association for continuing opposition to legislation creating optional federal chartering of insurers.

Florida may be only state without injury insurance requirement

TALLAHASSEE, Fla. (AP) — Florida would be the only state without a requirement for drivers to have bodily injury liability coverage if the present no-fault insurance system expires, the state’s chief financial officer said Wednesday.

Many miss out on rate cuts

State inspections inform unaware homeowners

State home inspectors continue to find large numbers of Floridians who aren’t getting the insurance cuts they deserve.

Officials: Trained Disaster volunteers needed

With punishing storms battering Central America and threatening Mexico, state officials are rallying Floridians to be prepared for a major disaster and are calling state employees to get trained as volunteers.

 

Panel Questions Financial Advisers for the Elderly

WASHINGTON, Sept. 5 — Federal lawmakers called Wednesday for a universal accreditation standard for financial advisers working with older Americans, and sharply questioned insurance and other executives about their tactics for selling financial products to elderly investors.

Safety Upgrades Planned for New Vehicles

WASHINGTON — The government wants new passenger vehicles to provide head protection in dangerous side-impact crashes, which kill thousands of motorists every year and leave others with serious brain injuries.

MGIC, Radian Call Off Deal

MILWAUKEE — Mortgage insurer MGIC Investment Corp. abandoned its $5 billion bid to buy rival Radian Group Inc. on Wednesday, saying it was in each other’s best interest to concentrate on surviving in the faltering mortgage industry.

Industry groups cite concern for little guy in lobbying against higher taxes for funds

WASHINGTON — To help quash legislation that would raise taxes on private equity and hedge funds, representatives for big business are warning lawmakers that the effort could instead end up hurting the little guy.

House to China: Lower Barriers to U.S. Money Firms

WASHINGTON (Reuters) – The House of Representatives urged China on Wednesday to open its market to more U.S. banks, insurance companies and other financial services, and demanded the White House push Beijing harder on the issue.