Capitol to Courthouse Headliners: Wednesday, December 9
Dec 9, 2009
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Insurance deregulation proposed
Lawmakers want to lure companies back to Fla.
Less than six months after Gov. Charlie Crist vetoed a similar bill, Florida lawmakers Tuesday announced a proposal that would lift regulations on property-insurance rates.
Bill would limit Florida’s control of private property insurers
Legislator wants Citizens Property Insurance Corporation phased out
Lawmakers are again pushing to deregulate the state’s property insurance market, a move that could increase rates for most policyholders.
Blog: Debate starts on property insurance rate deregulation
Florida lawmakers on Tuesday unveiled legislation that would strip state regulators’ ability to reject most property insurance rate hikes.
A Push Made To Have U.S. Backstop Fla. Last Resort
Financial firms could be forced to bail out Florida’s troubled property insurer of last resort under an amendment proposed for House financial services reform legislation, according to one analysis.
New trial possible in 1998 Florida-Countrywide insurance dispute
After more than a decade and four Nebraska Supreme Court rulings, a new trial may soon be scheduled in a multimillion-dollar insurance dispute between Florida and Countrywide Insurance Agency.
Florida Fines People’s Trust Agency for Unlicensed Sales; Orders Rewrites
A Florida online insurance agency found to have sold homeowners policies using unlicensed personnel will pay a $100,000 fine. The agency will also contact every customer affected and offer to rewrite their policies, under terms of a settlement reached with state officials.
Judge says Florida can view Pennsylvania life settlement firm’s books
An administrative law judge in Florida has thrown out a Pennsylvania-based life settlement firm’s request to prevent state regulators from reviewing its records.
Florida Recovers $8.5 Million from Pharmaceutical Company in Medicaid Fraud Settlement
Attorney General Bill McCollum announced today that Florida will receive $8.5 million from a settlement with Roxane Laboratories, Inc., and its corporate affiliates.
Wells Fargo Acquires Insurance Agencies in Florida and Washington
Wells Fargo Insurance Services, Inc. – part of Wells Fargo & Company – announced today it has acquired iLeader Risk Management Solutions, a single office, insurance brokerage located in Tampa, Fla. and Orca Bay Benefits, LLC, a single office, employee benefits insurance brokerage located in Mercer Island, Wash.
Sarasota County officials rethink restrictions on remodels
The pressure is on to loosen remodeling restrictions on thousands of homes near the water, with heavy hitters like real estate broker Michael Saunders out Tuesday to lobby county leaders.
South Florida cities take charge of traffic laws
South Florida drivers are increasingly getting caught in a thicket of new traffic laws imposed by cities – even though the state normally regulates the rules of the road.
Florida State University Chooses National Center for Atmospheric Research Director as Next President
National Center for Atmospheric Research Director Eric Barron was chosen Tuesday as the new president of his alma mater, Florida State University, despite initial views from a trustees search committee that none of the applicants for the university’s top job was good enough.
Florida CFO Sink’s push for more pension fund oversight thwarted
Chief Financial Officer Alex Sink’s two-year push for broader oversight of Florida’s investments was blocked Tuesday by two colleagues on the Cabinet who help her oversee the nation’s fourth-largest public pension fund.
- Attorney General McCollum unveils proposal to strengthen oversight of Florida’s pension fund
- Sink, McCollum differ on Fla. investment board
Senate clears rail bill, on to Gov. Crist
With surprising ease, the Florida Senate ended a special lawmaking session a day early Tuesday by approving a package of train legislation designed to kick-start a troubled Central Florida rail project, bail out South Florida’s Tri-Rail and win billions of dollars in federal bullet-train money.
- Commuter rail measure criticized as ‘sweetheart deal’
- Rail project could mean millions for CSX
- Deal with unions clears passage for Florida rail bill
Tampa Republican to succeed North Palm Beach’s Atwater as Fla. Senate president
Republicans have formally designated Sen. Mike Haridopolos as Senate’s next leader.
Blog: Fla. Senate redistricting committee will explore ‘legal options’ vs. Fair Districts
The Senate’s redistricting committee decided this morning to, during its January meeting, discuss and review “all the legal options” to deal with the Fair Districts redistricting initiative — including challenging the proposed constitutional amendment before the state Supreme Court.
Lithia dentist challenges Fla. State Rep. Burgin in GOP primary
Lithia dentist Marc Johnson, a newcomer to politics, is challenging state Rep. Rachel Burgin in the Republican primary for her east Hillsborough County state House seat, saying voters in the district never had a legitimate say on their representative.
Donations to Sen. LeMieux’s PAC feather his temporary job
The political transformation of George LeMieux took another turn Tuesday as lobbyists and corporate interests lined up to fill his newly created political action committee with donations.
Three Northeast Florida banks get zero rating from BauerFinancial
Three local banks got a zero rating in the “troubled and problematic” report of the independent ratings agency BauerFinancial Inc.
South Florida fourth nationally in lost home values
Homes in the South Florida metro area lost $45.9 billion in value during the first 11 months of 2009, down from $137.2 billion a year ago, Zillow.com says.
SEC Blocks Early-Stage Ponzi Scheme Involving Purported Investments in Personal Injury Settlements
The Securities and Exchange Commission today halted a Ponzi scheme involving a New York firm that solicited investments involving personal injury lawsuit settlements but instead shipped the money overseas.
Government rework of Louisiana Citizens approved
Cost-cutting recommendations that would shrink Louisiana’s state work force, boost outside contracting and rework bureaucracy were offered by the Commission on Streamlining Government, which wrapped up its first report Tuesday.
Louisiana Homeowners With Drywall Problems Asked to Report Them
The Louisiana Recovery Authority is urging homeowners who suspect they might have contaminated Chinese drywall in their homes to report the problems to the state.
Texas Windstorm insurer undergoes changes
The state’s insurance commissioner appointed a majority of new members Tuesday to the board of the Texas Windstorm Insurance Association, which has come under scrutiny for how it handled claims from Hurricane Ike.
Managing Climate Change Risk Is Growing Priority For Insurers And Actuaries
Managing climate change risk is a growing priority for insurers and actuaries, attendees of the Casualty Actuarial Society annual meeting were told during a general session titled, “Climate Risk Reporting and Monitoring.”
New Regime Of Solvency Regulation Will Impact Insurers And Actuaries
Changes to solvency regulation in Europe and the United States will have key implications for insurers and actuaries, attendees of the Casualty Actuarial Society annual meeting heard during the opening general session of the meeting.
Credit Scoring Data Call Plans Mulled By NAIC
The National Association of Insurance Commissioners Property & Casualty Committee chairman said the panel will begin exploring how to gather data on insurers’ use of credit information to determine premiums.
Stability a few years off for insurance industry
It may be a few years before the insurance industry sees a return to relative stability and certainty, according to PricewaterhouseCoopers LLP.
Congressional proposals to eliminate the 64-year-old exemption from federal antitrust laws for health insurers would do nothing to promote competition and could disproportionately help the biggest insurance firms at the expense of smaller competitors.
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