Capitol to Courthouse Headliners: Wednesday, December 16
Dec 16, 2009
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THE NEWS SERVICE OF FLORIDA: Like a good neighbor, State Farm to stay here, raise rates
State Farm Florida Insurance Co. will remain in the Florida market after dropping 125,000 policies and receiving a 14.8 percent rate hike under an agreement reached Wednesday with state regulators.
- Blog: Crist praises State Farm deal
- Statement by Florida CFO Alex Sink
- Statement by Associated Industries of Florida
Blog: McCarty open to debate on deregulation legislation
Amid discussion of State Farm today, Florida Insurance Commissioner Kevin McCarty addressed a new bill to deregulate the insurance company sponsored by Rep. Bill Proctor, R-St. Augustine, and Sen. Mike Bennett, R-Bradenton.
Citizens Property Insurance starts re-inspection program
If you’re a policyholder with Citizens Property Insurance Corp. who received a letter recently about an inspection of your home or commercial building, you can expect a phone call to schedule an appointment soon.
Pasco County Administrator Given Greater Emergency Management Authority
County commissioners Tuesday gave County Administrator John Gallagher greater authority to act alone on behalf of the county in the wake of natural disasters and other sudden emergencies.
No tainted holiday: Boynton Beach homeowner decks the halls on new drywall
Builder repairs 29 homes built with Chinese drywall
At Joe Araneo’s home west of Boynton Beach, a dancing snowman guards the front door, the staircase is wrapped in garland and a pile of presents sits under the 12-foot Christmas tree.
Florida Municipal Insurance Trust Says 2009 a ‘Record’ Year
The non-profit insurance trust for cities and towns in Florida reports it had a record-breaking year in 2009, with a 35 percent increase in written premiums and a 92 percent renewal rate among its municipal customers.
Funding needed to help Mike Fasano Regional Hurricane Shelter fulfill medical mission
After a $7.7 million investment, expedited construction and the pomp and circumstance of the governor-attended ribbon-cutting, the Mike Fasano Regional Hurricane Shelter remains incomplete.
Federal sweep nets Miami Medicare fraud suspects
About 30 arrested in Miami, Detroit and New York
Federal agents Tuesday arrested about 30 doctors, nurses and health care operators in Miami, Detroit and New York on charges of submitting tens of millions of dollars in bogus bills to the taxpayer-funded Medicare program.
Crist signs high-speed rail package into law
Gov. Charlie Crist signed the big high-speed and commuter rail package into law today and said it brings Florida’s transportation system into the 21st century.
Governors of Ala., Ga., Fla. predict water pact
The governors of Georgia, Alabama and Florida predicted Tuesday they will have a solution to their three-state water sharing dispute before they leave office in one year.
Transwestern to manage Fla. portfolio
A Texas firm has been selected to handle property management of a nearly 3.4 million-square-foot portfolio of Florida properties, the largest of which is an industrial park in Orlando.
Faith-based Florida prison rehab case reversed
Advocates for the separation of church and state scored a victory Tuesday when the 1st District Court of Appeal reversed the dismissal of their claim that state-funded, “faith-based” rehabilitation of ex-prisoners is unconstitutional.
Flagler refinances $460M in properties
Flagler closed on a $460 million commercial mortgage-backed securities loan covering its 44 office and industrial properties in Florida.
Politics muddy investment reforms
The need to continue reforms in managing Florida’s mammoth financial investments remains regardless of how the discussion has this fall become politicized.
Column: Incumbents dread amendments to end custom-fit districts
One of the great unchanging things about the Florida Legislature is the way it resents being told what to do by voters.
Delegation hears the pros and cons of drilling
The panel also heard a request for renewed mental health care funding, and a plea from the Sarasota-Manatee Airport Authority to allow emergency meetings by teleconference.
Tampa Electric can charge customers premium for solar energy, PSC votes
The Public Service Commission voted 4-1 Tuesday to allow Tampa Electric to purchase solar energy from a West Palm Beach-based company in 2011 and charge its customers premium prices for it.
Group calls Carroll Fla. GOP’s best solution
Two Florida Republicans, one of them a state GOP committeeman, are pushing a solution to the ideological differences that have intensified throughout the party in past year. That solution is state Rep. Jennifer Carroll, the lawmaker from Fleming Island.
Maryland’s Tyler stepping down as insurance commissioner
Maryland Insurance Commissioner Ralph S. Tyler, a former top aide to Gov. Martin O’Malley (D), is stepping down early next year to become general counsel at the U.S. Food and Drug Administration.
Texas insurer considers 5% rate hike
The Texas Windstorm Insurance Association’s board said Tuesday it will consider raising rates 5 percent for policyholders.
Texas Court Allows $70M Judgment in Workers’ Comp Case to Stand
A Texas court in San Antonio has affirmed the jury award of $70 million plus interest in a workers’ compensation case brought against Discover Property & Casualty Insurance Company, a St. Paul Travelers Insurance subsidiary, and the claims adjuster JI Specialty Services Inc.
U.S. Supreme Court Lets Stand Immunity for Gun Makers
The Supreme Court has turned away a new challenge to a 2005 law that gives gun manufacturers immunity from lawsuits by shooting victims.
Travelers increases cat bond, pushes ’09 total past $3B
Due to strong investor demand, Travelers Indemnity Co. is doubling to $500 million a catastrophe bond it is issuing, market sources confirmed Tuesday.
New York Orders State Farm To Renew 113 Coastal Home Policies
New York insurance regulators said 113 State Farm policyholders, whom the company wanted to drop because their homes were on the coast, will be allowed to renew their coverage.
N.Y. Insurance Department names deputy superintendent
New York State Insurance Superintendent James J. Wrynn said Wednesday that he has promoted Joseph Fritsch to deputy superintendent for accounting and international affairs.
Allstate Lawsuit Targets Allegedly Fraudulent Houston Towing Companies
Three family members operating Houston automobile towing, storage and repair companies lead a list of seven defendants accused of over-charging for routine tow services and disassembling vehicles belonging to unsuspecting Harris County accident victims.
Hearings Begin on Massachusetts FAIR Plan Rate Increases
Hearings on a request by the last resort insurer in Massachusetts to increase some rates for the first time since 2006 began Dec. 15.
Home Warranty Company to Pay $900K for Deception
New York’s attorney general says a now defunct New York City-based home warranty company will pay $900,000 for a deceptive scheme that defrauded consumers in New York and across the country.
Connecticut Insurance Commissioner Tom Sullivan: A Regulatory System that Works
The financial crisis that rocked this country in the fall of 2008, and continued well into 2009, did not cause a single insolvency of a state-regulated insurance carrier.
PCI Urges Congress to Extend NFIP Before December 18
The Property Casualty Insurers Association of America urges Congress to pass an extension of the National Flood Insurance Program before it expires on December 18.
Corps: Want quicker levees? Ask Congress
Army Corps of Engineers officials say it will take an act of Congress to speed work on a local hurricane-protection system despite the governor’s strong request in Houma last week to do so.
Randy Maniloff, Partner at White and Williams, LLP in Philadelphia, has published “Thriller: 9th Annual Review Of The Year’s Ten Most Significant Insurance Coverage Decisions; 2nd Annual ‘Coverage for Dummies'” in the December 16 issue of Mealey’s Litigation Report: Insurance.
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