Capitol to Courthouse Headliners: Wednesday, December 10
Dec 10, 2008
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Tower Hill Insurance Seeks Cat Fund Recalculation
Property/casualty insurers in Florida believe they are being overcharged for coverage from the state’s hurricane fund and some of them are looking for a refund.
State Farm pleads for rate hike
Insurance giant State Farm makes a plea to a state administrative law judge for a bigger homeowner rate increase.
In a renewed effort to gain a rate increase, State Farm Insurance of Florida is asking a judge for an average 67 percent homeowner rate hike statewide.
Colo. forecasters expect busy ’09 hurricane season
Hurricane forecasters at Colorado State University on Wednesday predicted above-average activity in the Atlantic next year: 14 named storms, including seven hurricanes – three major.
Florida’s low-cost health care program to begin Jan. 5
About 3.8 million uninsured Floridians can start applying for low-cost health coverage through a new state program on Jan. 5.
Brown & Brown Acquires Stewart & Tunno Agency
Daytona Beach, Fla.-based insurance broker Brown & Brown Inc. has acquired Stewart & Tunno Insurance Agency Inc. in Portland, Ore. Financial terms were not released.
Florida ranks last in access to emergency care
Florida ranks dead last in a national report card rating access to emergency care, according to a study released Tuesday.
Crist turns to Obama for billions in federal aid
State leaders are hoping to tap into President-elect Barack Obama’s stimulus plan to nearly double Florida’s road-building budget next year, creating tens of thousands of new jobs for the economically depressed state.
Crist, cabinet adjust state investing rules
Gov. Charlie Crist and the Cabinet approved a minor technical adjustment in state investment policy Tuesday with the governor cautioning that Florida has to be very conservative about sinking more money into the volatile stock market.
Fla. local investment pool nears liquidity
Florida’s troubled Local Government Investment Pool is expected to reach full liquidity by year’s end.
Crist, Fla. Cabinet OK tax glitch fix
Florida corporations are facing a dilemna – if they take advantage of a federal income tax break, their state taxes will go up.
Speaker Sansom names House committee, council members
Florida House Speaker Ray Sansom on Tuesday named members to lead the chamber’s councils and committees, positions that are key to controlling money and legislation as it works its way through to the state’s budget and statute books.
Crist noncommittal on Fla. Supreme Court nominees
Gov. Charlie Crist said Tuesday that he’s “moderately encouraged” by a slate of five state Supreme Court finalists that includes a woman and a Hispanic man after he had asked for nominees who reflect Florida’s diversity.
Lawmakers to review Crist’s gambling pact with Seminoles
A Florida House committee will help decide the future of a suspended gambling agreement with the Seminole tribe.
The suspended gambling compact between the Seminole Tribe of Florida and Gov. Charlie Crist will undergo an intense review from a special legislative committee before lawmakers put their stamp on the deal, House Speaker Ray Sansom said Tuesday.
Democratic Party chief seeks probe of House speaker
Florida Democratic Party Chair Karen Thurman on Tuesday called on Gov. Charlie Crist and Attorney General Bill McCollum to order an investigation into the relationship between House Speaker Ray Sansom and developer Jay Odom.
House member wants to clear up conflict over state agency’s name
A new state House member from an area with a lot of retirees wants to fix the name of the state agency administering programs for them. Since its creation by a 1988 referendum, the agency has legally been the Department of Elderly Affairs. But then-Gov. Lawton Chiles thought that sounded disrespectful and, when he took office in 1991, directed state employees to call it the Department of Elder Affairs.
Senator Mike Fasano and Representative Peter Nehr Request Elimination of Rate Increases
Senator Fasano and Representative Nehr have sent a joint letter to Progress Energy Florida requesting suspension of “advanced cost recovery”
Due to the economic status of the state of Florida, State Representative Peter Nehr (Râ€Tarpon Springs) and Senator Mike Fasano (Râ€New Port Richey), has requested the utility company, Progress Energy Florida, to suspend indefinitely the “advanced recovery cost,” which is to become effective January of 2009.
Early-voting sites inadequate, state elections chief says
Florida’s elections chief plans to ask the state Legislature to expand the number of early-voting sites before the next election, saying the law simply doesn’t permit enough sites to handle demand.
Volusia, state work on commuter rail snag
State transportation officials want Volusia County to remove from a recent commuter rail agreement language intended to safeguard taxpayers should the project fail.
Yellow Dragon disease threatens Florida citrus industry
Florida’s citrus crop faces a new threat from a disease called Yellow Dragon in the next decade, agriculture officials say. Citrus greening, an insect-carried disease that threatens Florida’s citrus groves, is spreading through the state.
Florida’s $9.3 billion citrus industry could be wiped out in just a decade if a virulent Chinese disease known as ”Yellow Dragon” is left unchecked, the executive director of the state’s citrus department told lawmakers Tuesday.
State lawmakers plan sugar hearing
State lawmakers in Miami-Dade County are questioning the wisdom of the state’s planned $1.34 billion buyout of U.S. Sugar Corp.
Florida lacking on child welfare, Chiles group says
The widow and son of former Gov. Lawton Chiles are using the 10th anniversary of his death to claim that Florida is backsliding on his signature issue: the state’s commitment to taking care of its children.
Congressional Panel Overseeing U.S. Bailout Criticizes Treasury
An oversight committee set up by Congress criticized the U.S. Treasury for not using the $700 billion financial bailout to help average Americans, and questioned its commitment to
NAIC to Examine Proposal to Modify Reinsurance Collateral Requirements
The National Association of Insurance Commissioners (NAIC) has adopted its Reinsurance Regulatory Modernization Framework Proposal, which modernizes U.S. state-based regulation of reinsurance.
NAIC Discusses AIG’s Securities Lending
Securities lending programs by insurers and the way that they are conducted need to be examined, New York’s insurance superintendent told other state regulators meeting here.
Over-Reliance on Models One Lesson of Subprime Crisis, Actuaries Say
An over-reliance on models used in securitizing mortgage risks and a failure to question basic assumptions played a role in the subprime crisis, a panel of actuaries told attendees during the opening session of the Casualty Actuarial Society’s 2008 Annual Meeting, held on Nov. 16-19 in Seattle.
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