Capital to Courthouse Florida Insurance Report, Monday, June 15, 2017
Jun 15, 2017
Reinsurers in Florida Advised Caution Over AOB Epidemic
If the Assignment of Benefits Epidemic sweeping Florida continues unchecked, insurers with weaker capitalisation could see rating downgrades or be put out of business entirely, while Reinsurers’ Credit Risk Skyrockets. Reinsurance News reports.
· A.M. BestTV: Assignment of Benefits Issue Drives Florida Claims Costs Higher
Kroll Bond Rating Agency Releases Research Report on the Florida Insurance Market
Kroll Bond Rating Agency today released a Research Report entitled, “Reinsurance Pricing and Capacity are Rays of Sunshine for Florida Insurance Market.”
Atwater Takes Aim at Assignment of Benefits Problems
Readying to leave the State Cabinet at the end of the month, Florida Chief Financial Officer Jeff Atwater said Wednesday that Lawmakers need to address an Insurance Practice that critics argue is driving up Homeowners’ Rates. THE NEWS SERVICE OF FLORIDA’s Jim Saunders reports via SayfieReview.com.
Florida Slides to 5th From Bottom on Long-Term Care Scorecard
Senior Advocacy Group AARP said Florida has slipped to 46th among the States in a Study that measures factors such as the cost of private nursing-home care as a percentage of annual household income, the number of private long-term care insurance policies in effect and the proportion of people receiving Medicaid-financed in-home care. Charles Elmore reports for the Palm Beach Post.
Florida Blue Pledges Statewide Commitment to Affordable Care Act
Despite the uncertain fate of the Affordable Care Act, Florida Blue plans to offer Individual Health Insurance Plans in all 67 Counties next year. The Insurer told the Tampa Bay Times on Wednesday.
Scott Signs Opioid Abuse Bill, 27 Other Measures Into Law
Governor Rick Scott Signed 28 Bills into Law on Wednesday, including a Measure to Enhance Penalties for People who Abuse Fentanyl, a dangerous synthetic opioid that can be up to 100 times more powerful than morphine. Christina Webb reports for the Palm Beach Post.
· Scott’s Veto of Higher Ed Bill Adds to Growing Feud with Senate Leaders
An Appeals Court has Ruled the Identities of Medical Marijuana Business Investors and Partners are a matter of Public Record and are not considered Trade Secrets by State Statutes. Zachary Lewis reports for the Florida Record.
Don’t Estoppel Believing: Now It’s a Law
Governor Rick Scott Tuesday Signed the measure (SB 398), which overhauls the Legal Process of Estoppel Letters. It goes into Effect July 1.
Biggest-Ever Container Ship Docks at PortMiami
The Maersk Shanghai slipped into Government Cut before dawn Wednesday and headed to its Berth at PortMiami. The Miami Herald’s Mimi Whitefield reports.
Florida Cabinet Votes to Buy Springs That Were Saved by Love Affair
Florida’s Cabinet Voted Wednesday to acquire 407-Acre Blue Springs Park in Gilchrist County, a jewel of a Spring that’s been privately owned since 1958 — thanks to a long-ago love affair involving a St. Petersburg Business Mogul and his faithful Assistant. The Tampa Bay Times’ Craig Pittman reports via “The Buzz” blog.
Trump to Nominate South Florida’s Sharon Day as Costa Rica Ambassador
President Donald Trump will tap Sharon Day, a former Republican National Committee co-chairwoman from Fort Lauderdale, to be his ambassador to Costa Rica, a senior administration official told the Miami Herald.
Clemens: Be Clear “Why (Democrats) Suck Significantly Less”
Clemens is expected to become the Senate Democratic Leader after the 2018 Elections and heads the Democratic Legislative Campaign Committee. THE NEWS SERVICE OF FLORIDA reports.
House Panel Gets Down to Business on Flood Insurance Propsals
House Lawmakers are weighing seven Proposals to Renew and Reform the Federal Flood Insurance Program, an area where there is a good amount of Bipartisan Agreement that something should be done and even on what to do. Andrew G. Simpson reports for Insurance Journal.
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