CFO Sink Warns Annuity Fraudsters: Tougher Laws Now on the Books

Jan 4, 2009

TALLAHASSEE— Florida Chief Financial Officer Alex Sink’s 2008 legislative push to target agents using predatory annuity practices against seniors today results in tougher penalties for fraudsters in Florida. Effective January 1, 2009, SB 2082 strengthens the fines against agents who …

Insurance-Related Meetings for the Month of January 2009

Dec 31, 2008

    Insurance-Related Meetings:  Month of January 2009 Week of January 5-9 Monday, January 5 FWCJUA Investment Committee Meeting The Florida Workers’ Compensation Joint Underwriting Association (“FWCJUA”) will hold an Investment Committee meeting on Monday, January 5, starting at 10:00 …

FPCA Member Input Needed on Condo Glitch Bill Draft

Dec 30, 2008

Passed during Florida’s 2008 Regular Legislative Session, House Bill 601 relating to condominium associations created issues of law regarding condominium insurance.  Colodny Fass has received input from Florida Property & Casualty Association (“FPCA”) members that will assist in addressing some of …

Capitol to Courthouse Headliners: Tuesday, December 30

Dec 30, 2008

  To view a complete story, click on a headline below:   Buffett Wins $224 Million Storm Bet With Florida Billionaire Warren Buffett’s Berkshire Hathaway Inc. won a $224 million bet that Florida would escape major damage from hurricanes this …

Florida House Releases Special Session Schedule Summary

Dec 30, 2008

The Office of Florida House Speaker Ray Sansom released a proposed schedule summary for the upcoming Legislative Special Session today, December 30, 2008. “Knowing the difficult task ahead, I have asked our appropriations staff to provide recommendations, guided by Governor …

Treasury Announces TARP Investment in GMAC

Dec 30, 2008

December 29, 2008hp1335 Washington, DC –The Treasury Department today announced that it will purchase $5 billion in senior preferred equity with an 8% dividend from GMAC LLC as part of a broader program to assist the domestic automotive industry in …

Revision Draft Issued for Insurer Financial Examination Rule

Dec 30, 2008

A Notice of Change has been issued for proposed Rule 690-138.005 (4) “Examination of Insurers” subsequent to public testimony at a Florida Office of Insurance Regulation (“OIR”) public hearing on November 12, 2008 and concerns previously raised by the Joint Administrative Procedures …