Capitol to Courthouse Headliners: Tuesday, July 21
Jul 21, 2009
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Florida’s Denial of State Farm 47% Rate Hike Again Upheld
A court has upheld Florida Insurance Commissioner Kevin McCarty’s denial of a 47.1 percent home insurance rate hike requested last July by State Farm Florida.
Florida Insurance commissioner signs deal with UK regulators
The Florida Office of Insurance Regulation has signed a Memorandum of Understanding with the United Kingdom Financial Services Authority to work together on issues relating to the regulation of financial matters under each of the agencies purview.
Watch Out Hurricanes – El Nino Has Returned
El Nino has officially returned and that could be good news for Florida.
UM gets grant to study hurricanes
UM received $15 million in stimulus grant money — the largest for the school in recent history — to study the impact of hurricanes on structures.
Builder to give homeowners $900,000 trust to pursue Chinese drywall complaints
South Florida builder has agreed to set up a trust account to help owners in developments such as the Parkland Golf & Country Club pursue claims over Chinese drywall used in their homes as part of its bankruptcy case.
U.S. Representative Adam Putnam: People, not Congress, should lead health care reform efforts
Congress is an institution typically not known for its speed or agility.
Reps. Earl Pomeroy (D-N.D.) and Ginny Brown-Waite (R-Fla.) have recently introduced The Retirement Security Needs Lifetime Pay Act (H.R. 2748).
Brown & Brown Profit Up a Notch in Q2
Florida-based insurance broker Brown & Brown, Inc. managed to increase its earnings slightly in the second quarter despite the financial downturn.
Suit Filed In Miami Against Insurance Broker Willis Over Stanford Bank
A Venezuelan investor has sued global insurance broker Willis Group Holdings Ltd over the collapse of the Stanford banking empire, saying he relied on assurances from Willis that Stanford was sound.
Suit Alleges Florida Dentist Dropped Tools Down Patient’s Throat
Florida dentist is being sued for allegedly dropping tools down the throat of an elderly patient –twice.
Florida Man Sues Over Being Denied Hair Transplant Due to HIV-Status
A South Florida man says he was denied a hair transplant because he is HIV positive.
Kottkamp says he wants to fight crime as attorney general
Lt. Gov. Jeff Kottkamp joined the field of candidates for attorney general Monday, becoming the first statewide figure seeking to keep the key office in Republican hands for four more years.
Cretul won’t put name on states’ rights resolution
Florida House Speaker Larry Cretul said he will not be adding his name to the growing list of supporters of a proposed resolution demanding that Washington operate within its constitutional boundaries in its dealings with the state of Florida.
Despite Democratic gains, Republicans have edge in District 28 Senate race
Democrats have narrowed an 11 percent gap with Republicans registered in state Senate District 28 to nearly 5 percent in less than three years.
Florida’s young minority voter participation soared in 2008
The new voters who turned Florida’s electorate younger and more ethnically diverse in 2008 also turned out in droves for Barack Obama’s historic presidential election last year.
Florida’s uncounted: Many immigrants and poor people are wary of the Census Bureau
Many immigrants simply are afraid to be counted
When census takers visit Walter Hunter’s mostly black community in Pompano Beach next year for the big, every-10-years count, he predicts they will encounter a lot of slammed doors.
Central Florida Hispanics bear brunt of subprime-loan fiasco
‘It was cultural greed. … They were overselling the American dream.’
Central Florida’s flood of foreclosures is swamping one of the area’s fastest-growing minority groups.
3 Crist appointees could shape U.S. Sugar deal
A Miami attorney is among three people Gov. Charlie Crist named Monday to the board of the South Florida Water Management District.
Fee increases are expected to bring in $800 million for the state.
Miami Finalists named for U.S. attorney, marshal
A federal judicial nominating commission has recommended former U.S. prosecutor David M. Buckner, Miami-Dade County government lawyer Wilfredo Ferrer and Miami-Dade Circuit Judge Daryl E. Trawick as finalists for the Miami U.S. attorney’s position in the Southern District of Florida.
Bill seeking financial recovery after catastrophe gets Clinton economist’s support
A bill before Congress to deal with financial devastation following major natural catastrophes has garnered the support of a former economic advisor to President Bill Clinton.
NCOIL Opposes Federal WC Commission
The National Conference of Insurance Legislators (NCOIL) is opposing the proposed creation of a federal commission to examine state workers’ compensation laws, arguing that the recommendations of a similar commission in the past led to a crisis in the marketplace.
U.S. Reinsurers Post $26.4B in Net Premiums for 2008
For 2008, the U.S. reinsurers reported net premiums written of $26.4 billion, premiums earned of $25.9 billion, according to the Reinsurance Association of America’s “Reinsurance Underwriting Review: 2008 Industry Results.”
S&P Lowers Ratings on 6 Cat Bonds; Puts 4 on CreditWatch/Negative
Standard & Poor’s Ratings Services announced that it has lowered its ratings on six natural peril catastrophe bonds issued in 2007 and 2008, as listed below.
Title-Insurer Fees Draw Scrutiny
The U.S. title-insurance industry faces increasing pressure from regulators to justify the fees charged to consumers for ensuring they have clear ownership of their homes.
House panel OKs new long-term care program
A House committee has approved a new voluntary insurance program meant to help families with the costs of long-term health care.
U.S. Withheld Data on Risks of Distracted Driving
In 2003, researchers at a federal agency proposed a long-term study of 10,000 drivers to assess the safety risk posed by cellphone use behind the wheel.
All N.C. Homeowners To Foot Coastal Insurance Losses Under Proposed Plan
Proponents Say Legislation Necessary To Keep Insurance Companies From Leaving
You may not own a home on the North Carolina coast, but state lawmakers think you should help insure beachfront homes from the next major storm.
NAVA retires old name, relaunches as Insured Retirement Institute
NAVA, the Association for Insured Retirement Strategies, has changed its name to the Insured Retirement Institute, as part of a rebranding that includes a new mission and the welcoming of financial service professionals into the organization.
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