Capitol to Courthouse Headliners: Tuesday, February 10
Feb 10, 2009
Above: An editorial cartoon on insurance appeared in today’s Gainesville Sun
To view a complete story, click on a headline below:
State insurance chief shops plan to bolster hurricane catastrophe fund
Office of Insurance Regulation Commissioner Kevin McCarty is trying to enlist lawmakers’ support for a proposal to enlist the federal government’s help, if needed, to prop up the hurricane catastrophe fund.
Florida’s top insurance regulator is lobbying congressmen to help prop up the state’s troubled hurricane catastrophe fund.
OIR Issues Final Order On NCCI Workers’ Compensation Rate Increase
The Florida Office of Insurance Regulation (“OIR”) issued a Final Order today, February 10, 2009, approving the National Council on Compensation Insurance’s (“NCCI”) amended rate filing requesting a 6.4 percent increase in workers’ compensation insurance rates to be effective April 1, 2009 for new and renewal business.
Fla. Insurance Startups Have A Cat Fund Worry
The Florida Hurricane Catastrophe Fund, a key reinsurance provider, has a shortfall of $18.5 billion, which could pose problems for some of the state’s recent insurance startups, state officials indicated.
Florida looks for ways to boost hurricane fund
With State Farm pulling out of the Florida property insurance market, the Senate budget chairman Monday expressed concern about many of those consumers moving into new insurance companies that may not be able to pay their claims quickly after a major hurricane.
Small insurance companies vie for State Farm customers
Many of Florida’s 1.2 million State Farm policyholders aren’t waiting to find new property insurance after the surprise announcement last month that State Farm is pulling out of Florida.
State Farm agents’ phones have been ringing off the hook from homeowners wanting to know what’s in store for their property insurance coverage.
Gov. Charlie Crist certainly worked himself up into a righteous fit of indignation upon learning that State Farm Insurance is pulling out of the Florida property market.
With little fanfare and no debate, Florida lawmakers who met during the January special session put on hold a program that had been launched three years ago as one of the steps intended to help fix the state’s ailing property insurance market.
Condo Law Changes Cause Confusion
House Bill 601, passed by the 2008 Florida Legislature, brought a number of notable changes to Chapter 718 of the Florida Statutes – and not a little controversy.
Florida Happy Days Are Here Again! Well, Maybe
In an August review of the excess and surplus lines (E&S) market, A.M. Best noted that E&S enjoyed banner years in the not-so-distant past.
Attorney General Settles Hurricane Price Gouging Case Against Gasoline Retailer
Attorney General Bill McCollum today announced that his Economic Crimes Division has reached a settlement with Flash Foods, Inc., resolving allegations of price gouging during Hurricane Ike. Flash Foods, Inc. is a convenience store and gasoline retail chain with 16 Northeast Florida locations.
In Fort Myers, Obama vows to create jobs, provide foreclosure aid
Speaking to Florida residents who have seen their area’s unemployment rate triple in recent years, President Barack Obama on Tuesday promised the No. 1 priority of his economic stimulus plan is job creation.
Florida among State budgets being delayed by stimulus debate
Several governors have decided to hold up budgets until the stimulus bill is completed, while others have proposed budgets based on what they expect to receive and are keeping a watchful eye on House-Senate negotiations.
Senate budget leader sees more Fla. spending cuts
Florida won’t get enough federal stimulus money to avoid more budget cuts, the state Senate’s budget leader said Monday.
U.S. Senate candidate: Security is issue for ages
State Sen. Dan Gelber brings his views to Jacksonville.
State Sen. Dan Gelber, a former federal prosecutor, has hatched a U.S. Senate campaign that he said will focus on economics, education and boosting national security.
Collier, Lee see 65 percent increase in people on food stamps
For recent transplant Maria Gonzalez, the move to Naples from Texas has been a bumpy one.
Use less water or suffer, regional review warns
Northeast Florida may become a ‘caution area’
Aquifer levels will drop seriously in Northeast Florida within 20 years if a growing population doesn’t waste less water, new estimates by water managers warn.
Treasury Plan Has No Bailout Money For Insurers
Insurers will not be allowed to participate in the federal government’s bailout program for financial institutions, a top Treasury official said today.
New Best Research Report: P/C Profitability Depends on Discipline
In a newly issued research report – “P/C Industry’s Profits Plunge; Insurers Poised for Turnaround ” – A.M. Best Co. states: “Declining underwriting results and weak investment markets have brought property/casualty insurers to a critical point where future profitability depends on strict adherence to underwriting and reserving discipline – even at the expense of market share.”
Identity Theft On the Rise But Costs per Incident Fall Sharply, Report Finds
The number of Americans ensnared by identity theft is on the rise, but victims are striking back more quickly and limiting how much is stolen.
Swiss Re Claims Exec Huff Named Missouri Insurance Commissioner
Gov. Jay Nixon has picked a Swiss Re insurance claims executive to lead the Missouri insurance department.
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