Category: Insurance Regulatory News
Mar 1, 2018
Flood risk is one of the most severe natural hazards in the United States, yet one of the least well-managed, National Underwriter’s Matt Nielsen reports for PropertyCasualty360.com. https://www.propertycasualty360.com/2018/02/28/tackling-the-u-s-flood-insurance-challenge/?slreturn=20180201144048
Mar 1, 2018
Aon plc announced that Dominic Christian has been appointed as global chairman of Aon Benfield. At the same time, Julie Page has been promoted to chief executive officer of Aon UK Ltd., subject to regulatory approval, Insurance Journal reports. https://www.insurancejournal.com/news/international/2018/03/01/481994.htm
Mar 1, 2018
Attempt to Overhaul State’s No-Fault Auto Insurance System Fails in Senate Subcommittee The Legislation, one of House Speaker Richard Corcoran’s priorities, would have ended the State’s No-Fault Auto Insurance Law and moved Florida to an At-Fault System similar to those …
Feb 28, 2018
The U.S. Government Accountability Office was asked to review and report on federal contracting activity to support the work of FEMA and other federal agencies related to the response to the 2017 hurricanes.
Feb 28, 2018
A company that rates many Florida property/casualty insurers believes hurricane losses and assignment of benefits litigation during 2017 could affect some insurers’ financial ratings, Insurance Journal’s Amy O’Connor reports. https://www.insurancejournal.com/news/southeast/2018/02/28/481735.htm
Feb 28, 2018
The $30 million Citrus Re 2015-1 Class C tranche of notes is currently estimated to face at least a $20 million loss, although secondary pricing seems to imply that investors may expect a higher reinsurance recovery to be claimed, as …
Feb 28, 2018
Senate Appropriations Chair Rob Bradley is undertaking something seen too rarely in the Legislative process: He is actually trying to clean up and improve Florida’s health care financing policy, FloridaPolitics.com Publisher Peter Schorsch reports. http://floridapolitics.com/archives/257633-rob-bradleys-fairness-doctrine
Florida’s “Five Million Dollar Ant Bite Case” Goes to Appeals Court . . . as the Legal World Watches
Feb 28, 2018
At a recent legal conference the lawsuit was referred to as “The Five Million Dollar Ant Bite Case.” It’s being compared to the infamous McDonald’s hot coffee case, in which a New Mexico jury awarded $2.86 million for a spilled …
Feb 28, 2018
House and Senate leaders Tuesday night kicked off formal negotiations on a new state budget, THE NEWS SERVICE OF FLORIDA reports via FloridaPolitics.com. Legislators say they’ll have a budget by Tuesday Budget remarks don’t bode well for Sadowski Trust Millions …
Feb 28, 2018
The powerful Florida House Appropriations Committee on Tuesday approved a sweeping proposal to tighten gun controls in response to the Feb. 14 mass shooting at Marjory Stoneman Douglas High School, but it did not approve an amendment to ban assault …