Capitol to Courthouse Headliners: Wednesday, December 17
Dec 17, 2008
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Regulators blast insurers’ request for workers’ comp rate hike
State regulators grilled an insurance group looking to raise workers’ compensation rates statewide, which could cost Florida employers $240-million more to do business in 2009.
Property owners to face 1.4% insurance assessment
Property owners in Florida insured by excess and surplus lines carriers will have an additional 1.4 percent assessment fee of their total premiums on new and renewing policies effective Dec. 15.
On the roads: More Road Rangers expected on Florida interstates
More Road Rangers will soon be roaming the interstates in Broward and Palm Beach counties.
Miami-based Sunshine Towing, which operates the state’s free roadside patrol, has found a sponsor to expand the service after state budgets forced company to reduce its hours and put fewer trucks on the road.
Brown & Brown acquires Indiana firm
Brown & Brown Inc. announced the acquisition of R. E. Sutton & Associates LLC, and other affiliated entities.
Budget Crisis Could Trim Health Care Programs for Poor
Health care spending for some of the sickest and poorest Floridians could be on the chopping block as lawmakers look to resolve the state’s budget crisis.
Doctor convicted of Medicare fraud seeks leniency
A doctor convicted of bilking Medicare out of $11 million faces up to 22 years in prison. She is seeking leniency.
From behind bars, Dr. Ana Alvarez-Jacinto took out an ad in El Nuevo Herald urging fellow physicians, patients and friends to write letters for leniency to a federal judge who revoked her bond after a jury convicted her of Medicare fraud in October.
Briefs: Ambulance membership plan is now enrolling
Ambulance membership plan is now enrolling
The Sunstar FirstCare Ambulance Membership Plan is a Pinellas County program that works with insurance companies to cover out-of-pocket expenses associated with ambulance transportation.
Accidents involving police cars costly and deadly in Broward County and across U.S.
Rain was pelting Sistrunk Boulevard when Fort Lauderdale Police Officer Jason Maldonado drove toward a felony call. He wasn’t speeding, he told investigators later, but suddenly the squad car spun out of control, roared across the median, careened through oncoming lanes and smashed into the side of a building.
U.S. Sugar land deal is approved–with an escape clause
South Florida water managers approved the controversial purchase of U.S. Sugar land considered essential to Everglades restoration.
Water managers on Tuesday narrowly approved the $1.34 billion acquisition of U.S. Sugar’s sprawling fields — but added a crucial ”out” clause that buys time to see if they have enough money to complete the deal.
In a December 16, 2008 letter to Florida House of Representatives Members, House Speaker Ray Sansom outlined economic recovery directives, among which include ” . . . the streamlining of (Florida’s) overly demanding regulatory system . . . ” and a ” . . . systematic examination of Florida’s regulatory structure . . . ”
Fla. House to hear bad financial news
The full Florida House is holding a rare out-of-session meeting to get another dose of bad financial news.
Pari-mutuels seek to turn gaming tables on Seminole Tribe
South Florida’s pari-mutuels said Tuesday that they would band together to seek state authorization to install blackjack tables to remain competitive with Indian gaming resorts.
Judges: More Fla. budget cuts mean court backlogs
Florida courts already are jammed with more criminal and foreclosure cases due to the sagging economy, but the backlog will get only worse if their budgets are cut again, judges told lawmakers Wednesday.
Florida faces stark choice: Taxes vs. services
Florida’s ruling Republican lawmakers, scurrying to prepare for a budget-cutting special session in two weeks, also face a grim fork in the road in the months ahead: raise new taxes or radically slash the size of government.
Florida political party leaders to keep jobs
With no change in leadership expected, Florida’s Democratic and Republican activists will meet soon to determine their agendas.
The only potential for drama at the upcoming elections of Florida’s political party leaders: Republican Chairman Jim Greer belting out one of his trademark Elvis impersonations.
Lauderdale’s Sharon Day seeks executive post with Republican National Committee
Sharon Day, the state Republican committeewoman for Broward and Florida’s Republican national committeewoman, is looking to move up in the party.
Rep. Castor to Obama: Let families visit Cuban kin
Florida congressional leaders are wasting no time asking President-elect Obama to roll back hard-line Bush policies against Cuba.
Ferguson Gets Two Years In AIG Case
Ignoring a government request that he serve significant time, a federal judge today sentenced former General Re. Corp. chief executive officer Ronald E. Ferguson to two years in prison for securities fraud involving a sham reinsurance transaction.
Bermuda Survey Finds Governance Lacking In Insurer Modeling
A report released by the Bermuda Monetary Authority found that while Bermudian insurers exhibit sophistication in their use of models-particularly with catastrophic risk-there is room for improvement in other areas, including governance.
Road Risks Rise as More Drivers Drop Insurance
Higher Premiums, Joblessness Contribute to Alarming Trend; What to Do When You’re Hit
More drivers are letting their car insurance lapse because of the sour economy, putting themselves and others at risk.
Supreme Court Allows State Suits Over ‘Light’ Cigarettes to Go Forward
The U.S. Supreme Court this week handed a surprising defeat to tobacco companies counting on it to put an end to lawsuits alleging deceptive marketing of “light” cigarettes.
Insurers Seek Presence at Health Care Sessions
When supporters of President-elect Barack Obama hold house parties to discuss ways of fixing the health care system over the next two weeks, they may find some unexpected guests.
Investors turn to life insurance
After watching their wealth evaporate in what could be the largest financial fraud, some victims of the alleged Madoff scandal are considering selling their life insurance policies to support themselves.
The Real Cost of the Madoff Collapse to Insurance Companies Won’t be Known for Months
The impact of the collapse of Bernard L. Madoff Investment Securities (BMIS) on the insurance industry won’t be known for another six months, with even the exact scale of the losses difficult to calculate.
Satellite will help scientists understand hurricane strength
A new satellite about 800 miles above Earth will soon help scientists better understand hurricane strength, sea-level rise and global warming.
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