Capitol to Courthouse Headliners: Tuesday, April 21
Apr 21, 2009
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Florida fund goes cold on reinsurance; may fuel $2.5-$3 billion demand hike
The Florida Hurricane Catastrophe Fund (FCHF) has decided not to buy private reinsurance in 2009 or renew the put option it bought from Berkshire Hathaway, The Insurance Insider understands.
Citizens Property Insurance cleared to raise rates
A plan to let the state-run Citizens Property Insurance Corp. raise rates up to 20 percent annually cleared its last House committee stop Monday, despite a rift between South Florida and inland lawmakers over whether coastal homeowners can shoulder the hikes.
USA Today: Our view on paying for disasters: In bailout nation, Florida takes its place in line
State’s undercapitalized hurricane fund threatens taxpayers everywhere.
The bank bailout, though unpopular, was necessary to stave off economic collapse.
Fla. lawmakers consider ban on charging drivers when emergency crews respond to accidents
It was bad enough when Matthew Norville rear-ended another driver, crushing the front end of his own car.
Settlement announced in Florida-based long-term care insurance case
Three insurance companies have agreed to pay $15 million to settle a long-standing lawsuit over long-term care policies in Missouri.
Florida-based national insurance agency’s profit declines
The down economy and downward pressure on insurance rates dropped Brown & Brown Inc.’s net income by 7.8 percent in the first quarter.
Insurance Broker Lockton Combines Southeast Groups; Hutcherson to Lead
Insurance broker Lockton has created a single Southeast group which combines the insurance brokerage and consulting operations of its suburban Miami and Atlanta offices.
Plan to monitor pain pills in Florida nears final vote
A proposed prescription-drug monitoring system is ready for a vote in the House and Senate, after an hour of debate in its last major committee stop.
An effort to curb prescription drug abuse and stop South Florida’s growing pain-clinic industry is headed to the House and Senate floors after the proposal cleared a key House committee Monday.
Budget deal elusive in final days of Florida legislative session
With nine days left in the 2009 legislative session, the House and Senate remain far apart on how to resolve their differences over taxing and spending.
Budget negotiators wait out day 1
It looks like we’ll have to wait until Tuesday for budget negotiations begin. Or Wednesday. Or May.
House panel OKs tax bill that costs more than it generates
Buyers of yachts and private airplanes in Florida would be spared from paying the full 6 percent sales tax on their purchase. But magazine subscribers would now start paying taxes.
Lawmakers to make call to cut phone regulations
Ma Bell is long gone. Ad with millions of Floridians turning to cell phones and other technology to make calls, state lawmakers are considering proposals to reduce regulations on telephone companies such as AT&T and Embarq.
Bill to change election laws is drawing criticism
Calling a proposed elections bill payback for a Democrat taking the presidential race in the Sunshine State, Democratic lawmakers and civil-rights group are asking legislative leadership to scrap an attempt to change elections laws.
Legislator’s proposal backs oil drilling off Florida’s coast
A Republican leader is launching a bill to raise money by allowing oil and gas companies to seek permission to drill in Florida’s coastal waters.
A top House Republican will unveil legislation Tuesday that could open the door to the first oil and gas drilling off Florida’s coast in decades.
Senate Panel OKs Rail Proposal
Budget constraints may delay the start of a commuter rail line through greater Orlando even if lawmakers approve a controversial measure to finally seal the deal.
Florida Public Service Commission chief grilled
PSC Commissioner Lisa Edgar got through a first round of Florida Senate reconfirmation hearings.
Public Service Commission Commissioner Lisa Edgar, the subject of a recently filed ethics complaint, got through one of two Senate reconfirmation hearings scheduled for this week — but only after a lengthy series of questions from Tampa Bay Sen. Mike Fasano, who called her votes to raise customer utility rates above staff recommendations ”mind-boggling” and ”not consumer friendly.”
Dems brace for Crist Senate run
Gov. Charlie Crist has yet to say whether he will run for the U.S. Senate or re-election in 2010, but national Democrats seem to think they know what his plans are.
Bowen Endorses Putnam in Florida Ag Race
One day after dropping out of the race, former state Rep. Marty Bowen endorsed U.S. Rep. Adam Putnam for Florida Agriculture Commissioner.
U.S. Rep. Brown-Waite, R-Brooksville, gets a Dem challenger in former Republican Jim Piccillo
Before he announced his intention to run for Congress, financier Jim Piccillo probably was best known for flubbing his introduction of then- Sen. Joe Biden during a campaign event last year — calling the Democratic vice presidential candidate by John McCain instead.
Legal Expert: Insurers Could Be Named In Drywall Suits
Insurers bracing for potential losses from the installation of defective Chinese drywall in homes in the Southeast may find themselves named directly in lawsuits, according to legal experts.
Geologist tells judge in Katrina suit he warned of shipping channel’s dangers decades ago
A coastal geologist testified Monday that he warned the Army Corps of Engineers decades ago about the dangers of the shipping channel that funneled Hurricane Katrina’s storm surge into New Orleans.
Texas Senate keeps controversial insurance rate system
Brushing aside Democrats who wanted greater consumer protections, the Texas Senate voted Monday to renew the state Department of Insurance and a system that allows companies to raise homeowner rates and start collecting before regulators review them.
Texas Senate OK’s Bill to Lower Standard of Proof in Asbestos Lawsuits
Handing a rare victory to personal injury trial lawyers, the Texas Senate recently passed legislation that would make it easier for certain people to recover damages after being exposed to asbestos.
Kidnapping Risks Extend Beyond Piracy
While maritime piracy off the coast of Africa has grabbed recent headlines, companies should be aware of increasing kidnapping and ransom risks for personnel traveling to many other areas of the world, an insurer is warning.
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