Capitol to Courthouse Headliners: Wednesday, April 2

 

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Suit alleges huge fraud in Poe case

State officials outlined an elaborate scheme of potential mismanagement and fraud among the officers and directors of the Poe Financial Group insurance companies that drained millions of dollars that could have been used to pay claims after the insurers failed.

State: Poe, kin took $143M

Former Tampa Mayor Bill Poe Sr. and 19 others, including his wife and five children, have been sued by Florida regulators for engaging in what the state alleges was an elaborate scheme to divert more than $140-million from three property insurance companies even as the companies hurtled toward bankruptcy.

Officials File Civil Lawsuit against 3 Former Florida Insurance Companies

The Florida Department of Financial Services filed a civil lawsuit against the officers, directors and affiliates of three former Florida insurance companies, according to Chief Financial Officer Alex Sink.

Legislators give OK to several property insurance bills

Panels of state legislators gave a green light Tuesday to several property insurance bills.

CFO, lawmakers trying to shore up backup fund’s solvency

A tightening global credit market is contributing to Florida’s insurance woes, prompting officials to look at reducing the amount of money in the state’s catastrophe fund, which pays hurricane claims when private insurers can’t.

EDITORIAL: Insurance costs not dropping enough

Hurricane season is coming soon, and state lawmakers again are trying to bolster Florida’s battered property-insurance market.

Proving values would shift to appraisers in House bill

It could become easier for property owners to win challenges against county property appraisers to reduce their valuations and their taxes.

Florida House speaker pushes more tax cuts

Marco Rubio wants to cap government spending but faces ‘significant resistance.’

In the face of multibillion-dollar spending cuts contemplated for health care and schools, House Speaker Marco Rubio is pushing a plan that could curtail state and local government spending even more.

EDITORIAL: Florida commission oversteps its duties

The state’s Taxation and Budget Reform Commission is acting as if it were the Jeb Bush Education Agenda Commission. The commission voted last week to put a measure on the ballot that would sharply weaken the state’s guarantees of church-state separation.

Major budget woes paralyze Florida legislators

Children, their faces painted to look like clowns, raced around the sunny Capitol courtyard while legislators in windowless meeting rooms debated women’s rights and the fate of a sales tax holiday on school supplies.

Poker bill could mean longer gaming hours

Poker rooms could stay open later and dormant jai-alai frontons could become greyhound racetracks under two bills that won approval from a Senate committee Tuesday.

Job loss at Kennedy Space Center could be worse than first forecast

NASA officials Tuesday tried to downplay concerns over their forecast that more than 8,000 workers across the country could lose their jobs when the space shuttle retires, but members of Congress, a key contractor and union officials said the agency’s “worst-case” scenario may be too optimistic.

Largest Fla. power companies need to increase electricity output

Florida Power & Light will need to increase electricity production by 25 percent over the next decade to meet rising demand, the company said Tuesday.

Florida attempts to go green

Radical proposals to change energy laws fuel volatile debate

With Gov. Charlie Crist making climate change one of his signature issues, Florida lawmakers are in a high-stakes debate about reducing air pollution and revamping the state’s energy laws.

GOP pals to vie for Victor Crist’s Senate seat

Could there be a little pre-emption going on?

Poll finds Rubio would be strong county mayor contender

Car dealer Norman Braman — in a fighting mood with the architects of Miami’s $3 billion megaplan — commissioned a poll that finds Florida House Speaker Marco Rubio would offer a strong bid for the seat now held by one of the deal’s sponsors, Miami-Dade Mayor Carlos Alvarez.

House, Senate busily changing health care budget proposals

The House has backed off several budget cuts that advocates for the poor and elderly were particularly concerned about.

Budget cuts could impact Florida environment

The state’s conservation land-buying program and Everglades restoration would receive no money under the House proposed 2008-09 budget.

Brown & Brown enters Sacramento market

Brown & Brown Inc. bought the assets of, an insurance agency based in Rocklin, Calif., that serves clients in California, Nevada and Arizona.

Insurers Divided Over Bush Regulation Proposal

The Bush administration is fueling a long-debated idea to let each insurance company choose whether it wants to be regulated by the federal government instead of the present state-by-state system.

U.S. Senator Chris Dodd: I’d Back OFC For Life Only

The head of a key Senate Committee said yesterday he would support legislation creating an optional federal charter for life insurers, but expressed reservations about supporting a similar framework for property-casualty insurers.

Insurers Must Factor For Climate, Say Consultants

Insurers need to account for climate change in their underwriting, according to a consulting firm, which says insurers’ greatest risk of natural catastrophe comes from hurricanes.

Director quieting storm at hurricane center

Read to speak at conference on hurricanes

National Hurricane Center Director Bill Read said he is hopeful that a new research project will “break the code,” and determine why some storms rapidly intensify in strength — such as Hurricane Charley, which battered Florida’s Gulf Coast in 2004.

Procedures for Depopulating La. Citizens Property Ins. Corp. Unveiled

The Louisiana Department of Insurance has issued procedures for the first round of depopulation of Louisiana Citizens Property Insurance Corporation (LCPIC).

Texas Orders Bogus Windstorm Inspector to Cease and Desist

The Texas Department of Insurance (TDI) issued an emergency cease and desist order against Gary Garza of Corpus Christi, Texas, to prevent him from submitting windstorm inspection reports under false pretenses.

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