Capitol to Courthouse Headliners: Wednesday, March 11
Mar 11, 2009
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Citizens Property Insurance to sell $2.5 billion of bonds
Florida‘s state-run property insurer plans to begin selling $2.5 billion of bonds next month to raise funds for claims from the coming hurricane season.
Citizens Property Insurance Corp. governors tentatively approved the sale Tuesday in Tallahassee. Funds will go into the insurer’s high risk account, used to pay claims for the six-month storm season that begins in June.
THE NEWS SERVICE OF FLORIDA: Washington D.C. may be Cat fund’s only option for aid
With less than three months to go before another hurricane season, the state of Florida will try to line up financial backing for the battered Florida Hurricane Catastrophe Fund.
THE NEWS SERVICE OF FLORIDA: McCarty presents Legislative priorities
Insurance Commissioner Kevin McCarty presented his bosses on Tuesday with his legislative priorities for the 2009 session.
State readies for hurricanes’ financial hits
The property insurance merry-go-round continues as Florida’s leaders struggle to balance the cost of homeownership against financial pressures on the state.
Florida Surplus Lines Insurance Industry Seeks Regulatory Certainty
Surplus lines insurance industry leaders in Florida hope legislation working its way through the state Legislature will clarify how the industry will be regulated.
Homeowners Choice boosts earnings
Homeowners Choice Inc. posted net income of $12.7 million, or $2.08 a share, for 2008, compared with net income for $1 million, or 29 cents a share, for 2007.
Bennett bill aims to block crash fee
State Sen. Mike Bennett has introduced a bill that would prevent local governments, like Bradenton’s, from seeking reimbursement for the expense of public safety departments responding to accidents.
Drug lords laundered millions through South Florida life insurance policies, court records show
Drug lords across South America laundered money through Mutual Benefits Corp., investing millions of dollars with the company to buy insurance policies that helped hide their illicit fortunes, court records show.
Florida seniors miss best deal on drug plans
How good are Medicare beneficiaries at shopping for the best deal in insurance coverage, given a large array of choices? Not very, according to a study that has significant implications for Florida because of the staggering number of choices here.
Governor Crist fills Florida Supreme Court post
Governor Charlie Crist announced Wednesday that he is appointing Circuit Judge James Perry, of Sanford, to fill the last of four open seats on the Florida Supreme Court, while the debate in the Legislature turns to open records, property taxes and dismantling growth management laws.
Crist’s ‘Taxpayer Bill of Rights’ caps state and local spending
Even though both state and local governments are facing big revenue shortfalls this year, Gov. Charlie Crist and lawmakers are pushing to make it tougher for governments to raise money in the future.
Lawmakers try to restart state oil, gas production
A proposal to get oil and natural gas production going again in the Panhandle and Southwest Florida sailed through House and Senate committees Tuesday.
Florida agencies ask for vigilance on consumer protection scams
The economy is not expected to recover any time soon, meaning there is an opportunity for disreputable companies to hoodwink Floridians out of their hard-earned dollars.
Debt and taxes are killing landlords
A toxic combination of debt and taxes is killing Southwest Florida property owners.
Retiring shuttle may doom 38,200 Space Coast jobs
Shuttle Discovery is set to launch from Kennedy Space Center at about 9:20 tonight, leaving only eight more scheduled missions before NASA retires the fleet in 2010 — and devastates the Space Coast economy.
Kendrick Meek has steep hill to climb to Senate
The Florida Democrat could face crowded field to replace Sen. Mel Martinez.
For the most part, the field to replace retiring Sen. Mel Martinez (R-Fla.) has been slow to develop.
Florida lawmakers marching to developers’ beat
More than 300,000 empty houses and condos in Florida are waiting for a buyer.
Weldon, Feeney still bring federal bucks to Brevard
Former U.S. Reps. Tom Feeney and Dave Weldon have been out of office for more than two months, but they’re still bringing federal money home to Brevard County.
Floridians are told that stimulus site is coming
Florida, trailing 29 other states that have already started up federally required websites to inform the public about stimulus spending, were told the state’s website will be up within “a couple of days,” by Don Winstead, special adviser to Governor Charlie Crist for the implementing of the federal stimulus program.
Allstate CEO: insurers should get federal regulator
The U.S. insurance industry should be subject to federal regulation, the chief executive of Allstate Corp (ALL.N), the nation’s largest publicly traded home and auto insurer, said on Wednesday.
Tanker full of crude solves hurricane mystery
Wider than a football field and almost two-thirds as long, Ensco 74 – a jackup oil rig positioned off the Louisiana coast – would seem a hard thing to lose.
Liberty Mutual Chief Calls Midwest New Catastrophe Alley
Liberty Mutual’s chief executive said the insurance industry needs to review its underwriting in the Midwest and charge more for its homeowners coverage there, declaring that part of the nation a catastrophe zone.
NAMIC Says Optional Charter Okay For Life, Not P-C Insurers
The National Association of Mutual Insurance Companies said it remains opposed to an optional federal charter for property-casualty insurers, but will not oppose an OFC system for life insurers because it is “a different industry with different regulatory requirements.”
Insurers Must Report Monthly Data On Total-Loss Cars To U.S.
Insurance companies will be required to send monthly data to a federally regulated database reporting vehicles they have classified as total losses, under a new regulation effective April 1.
U.S. pension insurer pays retirees after Madoff loss
The U.S. agency that insures corporate pensions took responsibility for about $2 million in pensions owed to former employees of East River Management Corp, a building service provider that lost all its assets in the Bernard Madoff scandal, the agency said on Tuesday.
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