Capitol to Courthouse Headliners: Tuesday, November 23
Nov 23, 2010
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RMS President and CEO Hemant Shah: The RMS storm-risk model
Regarding the Herald-Tribune’s article Nov. 14, headlined “Florida insurers rely on dubious storm model,” I want to clarify how and why Risk Management Solutions derived its medium-term hurricane risk model and how these models are used by insurers.
Citizens Property Takes Four Rounds Of Bids To Get New Office Space
Critics say the problems with the office space bids are just one more example of how the state-run insurance company mishandles contracts.
A Pompano Beach company, pummeled in an audit for allegedly cheating the Broward School District out of more than $765,000 for Hurricane Wilma repair work, has asked a judge to rule the firm was entitled to every cent it charged taxpayers.
The Chinese Drywall Complaint Center says, “by February of 2009 we believe all US banks, or loan servicers knew about the toxic Chinese drywall disaster in Florida, and other US Gulf States. People were walking away from the homes, with very serious medical worries, and the banks just resold the abandoned home foreclosure-no disclosure?”
The Florida Retail Federation Self Insurers Fund Converts to RetailFirst Insurance Company
The Florida Retail Federation Self Insurers Fund is pleased to announce that a majority of its members have voted in favor of converting to RetailFirst Insurance Company, a stock insurance company within a mutual holding company system.
Zimmerman Joins Florida’s Brown & Brown
Insurance broker Brown & Brown has named Paul J. Zimmerman as director of acquisitions.
After red-light cameras: Wrecks slow down but injuries accelerate in West Palm Beach
Nine months after West Palm Beach issued the first red-light camera fines in Palm Beach County, injuries have increased fivefold at the city’s four camera intersections compared with the same period last year, records show.
Hundreds of car tires slashed at two Delray condo communities
Shocked neighbors knocked on doors to wake each other up early Tuesday after discovering hundreds of car tires had been slashed overnight outside their condos.
One of the requirements of the federal health care law enacted by Congress is that starting in January 2011 health insurance companies would have to begin spending a larger share of their premium dollars – 80 percent to 85 percent – on actual care and preventative costs instead of administrative overhead, like salaries and bonuses.
Blog: Senate President Haridopolos will push health-care amendment
State Rep. Scott Plakon, R-Longwood, has re-filed a constitutional amendment that would attempt to prevent Floridians from being penalized if they don’t buy health-care coverage to comply with the federal health care reforms.
Economists forecasting 1 million new Florida jobs in 7 years
State economists are forecasting Florida will gain about a million new jobs over the next seven years even if nothing more is done to stimulate employment growth.
Blog: Haridopolos won’t re-open local projects
Senate President Mike Haridopolos won’t re-open the process for requesting local projects for next year’s budget. From a memo he sent to senators: “Given the continuing fiscal challenges our state is facing and our need to focus efforts on solutions to balance the state’s budget, we will not be opening the Community Budget Issue Request System (CBIRS) this year.
Hiring for agencies marking Scott era
He’s looking to fill top state jobs with people with private-sector experience.
Palace intrigue surrounds Rick Scott as he prepares to take control of the governor’s office.
Florida secretary of state leaving for Senate job
Dawn Roberts is leaving her post as interim secretary of state for a job with the Florida Senate.
Search Is On For New Florida Department of Transportation Secretary
With Gov.-elect Rick Scott figuring to soon start announcing agency heads in his administration, the Florida Transportation Commission is beginning a search for candidates for him to consider to replace DOT Secretary Stephanie Kopelousos.
Transition in full swing for Department of Agriculture
The transition is starting to reverberate at the Department of Agriculture and Consumer Services, a spokeswoman confirmed this morning.
Florida regulators investigate possible telemarketing violations of ‘Do Not Call’ law
Officials who enforce Florida’s “Do Not Call” telephone solicitation law say they have identified companies believed to be responsible for prerecorded calls blanketing the Treasure Coast and South Florida and have referred their case to state lawyers for possible civil fines and injunctions against further calls.
Judge dismisses Greer lawsuit against Florida GOP
A judge has dismissed a lawsuit against the Florida Republican Party by its ousted former chairman.
Mike Fasano’s diminished status shows Senate’s rightward drift
To see how the Florida Senate has shifted to the right, look no further than Pasco County’s Sen. Mike Fasano, an antitax crusader, former Republican majority leader, and cable news star during the 2000 presidential recount.
Unstoppable? Economists Nix High-Speed Train
And these skeptics are picking up support from some unlikely places.
In a Nov. 1 column in Newsweek, business writer Robert Samuelson, not exactly a tea-party type, railed against the administration’s $10.5 billion investment in U.S. high-speed lines.
Florida a loss leader in construction jobs
Construction employment expanded in 29 states between September and October, but not in Florida.
WCI sells development to Toll Brothers
WCI Communities, the Bonita Springs-based home builder, has completed its largest land deal since exiting Chapter 11 bankruptcy protection.
Louisiana Citizens Sheds Homeowners Policies
Louisiana Citizens Property Insurance Corp. has held a fourth depopulation offering in which 13,500 policies have been assumed into the private insurance market, state Insurance Commissioner Jim Donelon announced.
Texas Attorney General Opinion: Texas Windstorm Insurance Agency Settlement Should Be Public
The attorney general’s office has weighed in on the ongoing back-and-forth over releasing the details of a multimillion-dollar settlement between the Texas Windstorm Insurance Agency, or TWIA, and the attorney for Hurricane Ike homeowners.
National Conference of Insurance Legislators Crash-Parts Vote Delayed Until March 2011
State lawmakers resolved to take a final vote on a model law related to the use of aftermarket parts for repairs paid for by auto insurance in March 2011, a Kansas legislator reported over the weekend.
National Conference of Insurance Legislators Adopts Retained Asset Accounts Model
Seeking to provide consumers with needed disclosure on death benefit proceeds, insurance legislators today unanimously approved a Beneficiaries’ Bill of Rights.
National Conference of Insurance Legislators Model Requires Notice of Settlement Option
The National Conference of Insurance Legislators has adopted a controversial model act requiring life insurers to notify policy owners about the life settlement alternative when considering lapsing or surrendering a policy.
Wall Street Journal: Insurers Face Lower Investment Returns
Insurance companies are facing lower profits in the years ahead, as record low interest rates coupled with tighter regulatory standards are hampering their investment returns, a study by one of the world’s largest reinsurance companies found Tuesday.
Sacramento Bee Editorial: ‘Crash tax’ 3.0 is still an unfair revenue-raiser
Sacramento’s “crash tax” is back before the City Council tonight, and it isn’t getting any better with more repairs.