Capitol to Courthouse Headliners: Tuesday, Feb. 26
Feb 26, 2008
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Citizens, new firms ready to pick up State Farm slack
The state says it is well-equipped to deal with State Farm’s decision to not write new homeowners policies.
What happens when Florida’s biggest private homeowners insurance company puts a moratorium on writing new business?
OPINION: Storm season renews risk worries
With the 2008 hurricane season inching into our consciousness — and the legislative session upon us — legislators are again sweating the potential consequences of their actions on insurance.
House takes on state investment fund probe
A House member who’s also an investment manager and millionaire will head up the chamber’s inquiry into the financial and management troubles of the State Board of Administration’s Local Government Investment Pool.
Two consultants to probe agency after pool fiasco
House Speaker Marco Rubio announced Monday that he will hire two consultants to investigate the state agency in charge of an investment fund that last year put billions of local government dollars at risk.
Proposal puts state sales-tax increase on November ballot
A state panel voted unanimously Monday to put a proposal on the November ballot that would raise the state sales tax by a penny, close billions of dollars worth of sales-tax loopholes and use the money to replace $8 billion in school property taxes.
Tax-Cut Plan Advances Minus Plan to Pay for It
The decades-long battle to end tax breaks for services like accounting, attorneys and advertising suffered another setback Monday, likely snuffing the effort for the near future.
Close race expected in race for Allen’s seat
Campbell, Sasso, Maynard compete for House District 32 seat
One week before the Legislature’s regular session opens in Tallahassee, voters in House District 32 today will choose one of three local candidates to represent them.
EDITORIAL: More tax relief for Florida
Tax reformers and a surprising gimmick called the ‘recapture rule’ make case for added cuts
Two sweeping tax reforms are up for consideration in Tallahassee.
Owners file to transfer homestead savings
Some 329 Palm Beach County homeowners have applied to transfer their homesteaded tax savings to a new residence since statewide voters approved an overhaul of Florida’s property tax system last month.
Legislators would slice $542-million, mainly in education, health and court funding.
As Florida’s economy worsens, legislative leaders are preparing to cut another $542-million from the current budget – more than half of it in public education.
Again, home sales and prices plunge
But the free fall may be ending, experts say … and hope.
Tampa Bay area home sales have spent two years grasping for a ledge to arrest the plunge into the canyon.
Florida foreclosures rise 158%
The number of homes facing foreclosure jumped 57 percent in January compared to a year ago, with Florida’s Cape Coral-Fort Myers area posting the highest rate in the nation, a mortgage research firm said Monday.
House votes to end investigation of District 13 election
The House voted Monday to end the investigation into a disputed 2006 Florida congressional election after federal investigators found that touch-screen voting machines likely functioned properly.
Crist works as surrogate for McCain
Florida Gov. Charlie Crist (R) told The Hill Monday that he is not thinking about being Sen. John McCain’s (Ariz.) running mate, even as he rattled off talking points touting the presumptive GOP nominee as if already on the stump.
Lawmaker whistles Dixie for Confederate tag
A Panhandle legislator with a proud disdain for political correctness and no fear of bucking Gov. Charlie Crist or the state Republican Party wants Florida to issue license tags honoring “Confederate Heritage” — complete with images of Dixie flags and buttons from Rebel uniforms.
D&O Insurers May Feel Adverse Consequences From High Court Rulings
With multibillion-dollar estimates of professional liability losses related to the credit crisis proliferating, insurers heard more bad news, as experts said recent pro-defendant Supreme Court rulings may do little to lower securities class-action payouts.
Five Former Insurance Execs Found Guilty
Five former insurance company executives were found guilty Monday of a scheme to manipulate the financial statements of the world’s largest insurance company.
Surplus Lines, Reinsurance Reform Bill Has Shot Of Passage, But Cat Fund Lags
Congress can enact legislation this year reforming regulation of the surplus lines and reinsurance industries, but support is lacking for creation of a federal backstop for state catastrophe funds, a senior member of the Senate Banking Committee told a meeting of brokers and reinsurers recently.
Soft Market For Builders Risk Expands Into Cat Zones
The softening in the builders risk market over the last few years not only showed no sign of a turnaround in 2007 but has expanded into catastrophe-prone areas as well, leading players in the niche warn.
Property-Casualty Slides Into A Down Cycle
Although profits were still strong in 2007, property-casualty insurers in Connecticut and throughout the nation expect them to decline again this year as price competition benefits businesses and consumers — but erodes the industry’s income.
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