Capitol to Courthouse Headliners: Tuesday, April 28
Apr 28, 2009
To view a complete story, click on a headline below:
Report: Citizens Property poised to sell $2B of bonds, notes
Citizens Property Insurance Corp. expects to bolster its liquidity in time for the hurricane season by selling $2 billion in bonds and notes.
Home insurance rates to rise, McCarty says
Florida Insurance Commissioner Kevin McCarty said Monday he expects that rolling back home and condominium insurance regulation will trigger “substantial” rate increases and won’t keep insurers in Florida – the reason many lawmakers support it.
Senate’s insurance bill caps Citizens hikes at 5 percent
The Senate on Tuesday approved a 5-percent cap on increases for state-run Citizens Property Insurance, while the House is primed to cap individual policyholder rates at 20 percent.
Florida Rep. Proctor Challenges Commissioner McCarty’s Insurance View
In my opinion, Florida Insurance Commissioner Kevin McCarty’s assertions that our state has “one of the most” competitive property insurance markets in the country and that easing rate regulation will not encourage private carriers to return to the Florida market, are both open to serious question.
Flood Program Nominee Fugate Opposes Adding Wind Coverage
Florida’s Craig Fugate, the White House nominee to head the agency that runs the National Flood Insurance Program has told Congress he opposes adding windstorm coverage to the protection NFIP offers.
Fla. insurance premium credit voucher bill goes to Crist
A bill to strengthen a private school voucher program for children from low-income families is going to Gov. Charlie Crist.
Fla. House votes for hurricane prep supply sales tax holiday
The House has voted to bring back sales tax holidays for back-to-school and hurricane preparation purchases.
Alligator Alley reopens temporarily as fires rage on
Alligator Alley was reopened Tuesday morning but will close again at 7 p.m. because of Everglades wildfires that continue to pour smoke over the cross-state highway, causing dangerous driving conditions.
Insurer QBE fights $20M North Miami Beach verdict
Global condo insurer QBE wants a $20 million verdict thrown out, alleging jury contamination in a trial it lost to Buckley Towers in North Miami Beach; the insurer was hit with dozens of lawsuits involving claims for damage caused by Hurricane Wilma.
House passes bill targeting healthcare fraud
The Florida House approved tighter licensing and residency rules for certain healthcare providers in an attempt to reduce Medicare and Medicaid fraud.
In an effort to crack down on healthcare fraud, the Florida House on Monday unanimously passed tighter licensing rules for certain health service providers to reduce the number who fleece Medicare and Medicaid, then flee the United States.
Fla. horse helmet law headed to governor
A bill requiring children under 16 to wear a helmet while riding a horse on public roads and trails is headed to the governor.
Budget conferences start today, budget will be done next week
House Speaker Larry Cretul and Senate President Jeff Atwater announced today to their members that budget conferences would start at 4 p.m. this afternoon but it would take until next week to hammer out a final product.
Monday highlights from the Capitol
The regular legislative session ends Friday. Here are some highlights from Monday action.
Florida House approves oil drilling bill, but Senate won’t hear it
The Florida House passed a bill to authorize oil drilling off Florida’s shores, but Senate leaders said the bill was dead for this session.
Gov. Charlie Crist and Senate leaders put the brakes on a bill to open the door to near-shore oil drilling off Florida’s coast Monday just as it won overwhelmingly approval in a fast-tracked vote in the House.
Sen. Ted Deutch asks McCollum to investigate tobacco company claims on legislation
A letter sent today to Attorney General Bill McCollum from Senator Ted Deutch (D-Boca Raton) asks the attorney general to probe whether leading tobacco companies involved in the state’s settlement agreement are misrepresenting the need for certain legislation expected to be heard in the Senate today; according to Deutch, disclosures by the companies to the SEC are in direct contradiction to assertions made earlier to lawmakers that without the legislation, payments to the state may be in jeopardy.
Florida Gov. Charlie Crist submits paperwork for education stimulus money
Gov. Charlie Crist submitted an application for Florida to receive its share of the federal stimulus dollars earmarked for education.
About $1.5 billion of the federal stimulus funds set aside for Florida’s schools could be released to the state within the next three weeks, federal education officials said Monday.
State passes on $444 million in jobless money
Days from the end of the legislative session, Florida lawmakers have refused to move a bill to expand unemployment eligibility in order to accept $444 million in federal stimulus aid.
Race for Florida Agriculture Commish Is Crowded Early
Why all the interest? See the players.
Over the past two decades, the race for commissioner of the Department of Agriculture and Consumer Services has generated little in the way of political suspense.
Space Florida spends millions for launchpad to nowhere
Space Florida has spent more than $2 million of state taxpayer money during the past six months on the early stages of a $60 million launchpad here that the agency can’t find the money to finish and which so far no rocket company is committed to use.
Rep. Frank: House Panel to Examine Federal Regulation Option for Insurance
A congressional panel will examine whether an optional federal charter for insurance companies is needed, the chairman of the U.S. House Financial Services Committee said Tuesday.
Guy Carpenter CAT-i Bulletin on Swine Flu Virus Outbreak
Guy Carpenter has produced a CAT-i report on the swine flu outbreak, which was first detected in Mexico and has sparked global concern, and will update if more information becomes available.
AIG: We Know Of No Crime At AIGFP
American International Group said today that despite the ongoing investigations by federal authorities, they know of no illegal activity by the company’s controversial financial products unit.
U.S. Recovery Could Be Hurt by Fear of New Regulation
Too many regulators currently watch over U.S. companies and a fear that some industries may soon face even more rules could be hurting the U.S. recovery, two top financial industry executives said.
Myrtle Beach Property Owners Add Wildfire to Hurricane Risk
They flock from other states and climes to the coast known as the Grand Strand, first as tourists, and later as residents, captivated by ocean views, rolling green fairways and the relaxed lifestyle.
Marsh Reports Captives Maintain Position Despite Economic Crisis
A study, published by Marsh, finds businesses continue the trend to self-insure through captives.
Intangible Asset Woes Could Vex Insurers, Says Moody’s
Insurers facing eroding profitability and mounting losses are likely to continue listing charges related to impairments of intangible assets against earnings, a rating firm said today.
To unsubscribe from this newsletter, please send an e-mail to ccochran@cftlaw.com.