Capitol to Courthouse Headliners: Tuesday, Jan. 15

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Frustrated at Allstate, regulators shorten insurance hearing

Florida insurance regulators angrily and abruptly ended a hearing with Allstate executives after just two hours Tuesday, upset that the company and its attorneys failed to fully comply with a subpoena on its property coverage rates

 

An open letter from Governor Charlie Crist:  Florida Continues Its Push for Reduced Rates On Property Insurance

Many Florida homeowners have been disappointed and frustrated that property-insurance rates have not dropped more. I also am disappointed and frustrated.

 

An interview with Florida CFO Alex Sink:  Talking coverage cost, risk

It’s time for answers, according to state officials.

 

Bail reduced for insurance fraud suspect

A Broward judge reduced bail by $150,000 on Thursday for a woman accused of defrauding insurance companies with her husband at his Lauderdale Lakes chiropractic office.

 

FEMA agrees to revised flood maps

Lee County successfully appealed 76 of 155 preliminary flood insurance rate maps.

 

EDITORIAL: Our view: Really ripped off

Space Coast homeowners know they’re getting ripped off by insurance companies raising rates to unaffordable levels with state lawmakers talking tough but doing nothing about it.

 

Crist says tax relief will lift real estate

Gov. Charlie Crist predicted a “dramatic change” in Florida’s sluggish real estate market if voters approve his property tax amendment later this month.

 

EDITORIAL: Florida’s Fiscal Fallout

While “Don’t Worry, Be Happy” was an enormously successful pop song, it is lousy state policy.

 

Crist names former TPD chief as state’s new prison boss

Gov. Charlie Crist has tapped former TPD Chief Walt McNeil to head up the state’s prisons.

 

Overall voter registration down in Fla.; Democrats gain Hispanics

Overall voter registration numbers have declined slightly in Florida over the past two years, but Democrats made gains among Hispanics, the only one of three major ethnic groups that has shown an increase, state figures released Monday indicate.

 

Bobby Jindal takes office as Louisiana’s 55th governor

Pledging a ‘clean break with the past,’ Republican Bobby Jindal took office Monday as Louisiana’s 55th governor, promising to help the storm-battered state shed its shady reputation and to seize the opportunities for change offered by Hurricane Katrina.

 

Ex-Candidate Admits Fraud

A one-time Republican candidate for a state House seat pleaded guilty Friday to charges he siphoned about $110,000 from the account of a dead man, prosecutors say.

 

Giuliani broadens message to push ‘economic security’

Only three minutes into a speech Monday before a massive crowd of retirees, Rudy Giuliani moved on from his signature message of combating terrorism and supporting the U.S. war in Iraq.

 

FPL and Crist: Old foes become allies

The utility donates another $250,000 to the campaign to pass the amendment to cut property taxes.

 

State money for transiton fumes, official says

South Florida shouldn’t expect an infusion of cash anytime soon to make up for a nearly $1 billion shortfall in gas tax revenue for major projects, state Transportation Secretary Stephanie Kopelousos said Monday.

 

Swiss Re stock still tarnished by subprime exposure

Swiss Re’s vow to stay the course after subprime-related losses blew up in its face last year has done little to convince investors the stock is worth buying.

 

Marsh announces new head of EMEA broking unit

Marsh, the troubled insurance broking unit of Marsh & McLennan Cos, said on Tuesday that David Batchelor, current head of its Asia Pacific unit, had been appointed head of Marsh’s operations in Europe, the Middle East and Africa as part of a management shake-up.

 

P-C Insurers Ramp Up Internet Use, Survey Says

A survey of property-casualty insurers, most of them in the workers’ compensation sector, has found the number of firms offering Internet-based transactions is accelerating rapidly, a technology firm reported.

 

Supreme Court Limits Investors’ Securities Lawsuits

In a decision sought by corporate America to stem the tide of securities lawsuits, the U.S. Supreme Court today pulled the plug on investors trying to sue some suppliers of a company whose stock price was inflated with the aid of the suppliers.

 

Subprime Class Actions Now Total 138

Property-casualty insurers have sustained relatively little damage despite a U.S. subprime mortgage market implosion that has wiped $173.2 billion off company balance sheets around the world, and insurance data firm said.

 

State Sen. Speier To Seek U.S. Rep. Lantos’ Post

Former California State Senator Jackie Speier, who was involved in much of the legislation that has impacted the insurance industry in that state, announced she will run for the congressional seat being vacated by Rep. Tom Lantos, D-Calif.

 

Dinallo Names Kenny As Special Counsel

New York Insurance Superintendent Eric R. Dinallo announced today that an official with the New York Liquidation Bureau, who previously held a post with Gov. Eliot Spitzer, has been appointed his special counsel.

 

Rep. Baker To Join Hedge Fund Lobby Group

Rep. Richard Baker, R-La., one of the senior Republicans on the House Financial Services Committee, is leaving Congress after 22 years to become head of the Managed Funds Association, a hedge fund lobby group.

 

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