Capitol to Courthouse Florida Insurance Report: Friday, April 26
Apr 26, 2013
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Florida’s 2013 Regular Legislative Session
- Click here for today’s Senate block calendar
- Click here for today’s House of Representatives block calendar
There are no Florida insurance-related events scheduled for today.
A newly amended version of SB 1770 keeping customers of Citizens Property Insurance Corp. as of January 1, 2014 under the 10 percent cap on annual rate hikes and now heads to the House, The Florida Current’s Gray Rohrer reports.
Allianz Risk Transfer has vowed to strongly repudiate charges levied by Florida regulators that it contributed to the collapse of a domestic property insurer by seizing management control and saddling it with millions in fees, Insurance Journal’s Michael Adams reports.
Despite payouts for Hurricane Sandy and smaller investment gains, private U.S. property/casualty insurers still made $33.5 billion in profit after taxes in 2012, up from $19.5 billion in 2011. Pretax operating income more than doubled from $15.4 billion to $33.3 billion, reports Tampa Bay Times’ Jeff Harrington.
Citizens, created as the insurer of last resort, has been looking for ways to reduce its risks. One way has been to depreciate older manufactured and mobile homes, Laura Layden reports for the Naples Daily News.
The head of the Florida Senate’s Banking and Insurance Committee will recommend legislative leaders call a special session to repeal no-fault auto insurance if judges reject reforms the state made to the system a year ago, reports Kathleen Haughney of the Sun-Sentinel.
Florida Insurance Commissioner Kevin McCarty late Thursday said an investigation determined that AGIC Inc. is in unsound financial condition with a surplus under its required $4 million, reports Tampa Bay Times’ Jeff Harrington. The company also was late in filing financial statements and wrongly comingled funds from other sources to raise its surplus, according to McCarty’s order.
The Miami Herald’s Rochelle Koff reports that the House is expected to vote next week on a bill that makes texting while driving a secondary violation, which means a motorist would have to commit another offense, such as careless driving, in order to be pulled over. Once stopped, a driver could receive two tickets, one for the first infraction and one for texting.
The state violated federal civil rights law with its online application requirement for unemployment insurance: U.S. Department of Labor
Workers’ rights advocates in Florida said Thursday that they are encouraged by the initial determination by the U.S. Department of Labor that found Florida’s online application requirement for people seeking unemployment insurance to be in violation of federal civil rights and nondiscrimination laws, Kyle Hightower reports for NBC 6 WTVJ in Miami.
A new Florida law restricts police use of drones within the state’s borders, CNN reports.
The Florida Current’s Bill Cotterell reports that Governor Scott says he will expect explanations for special projects that may not seem to make fiscal sense or serve the entire state. Senate budget chairman Joe Negron says he expects nothing less.
Lawmakers said they are concerned about protecting voters from being inundated by candidates and political committees that obtain their email addresses, Steve Bousquet reports for The Miami Herald.
Lawmakers sponsoring a bill to prompt the collection of sales taxes for online purchases said Governor Rick Scott has raised new concerns about the measure, halting its progress, The Florida Current’s Gray Rohrer reports.
The Florida House approved a bill that would allow private firms to make unsolicited bids to local governments to enter into public private partnerships, The Florida Current’s Gray Rohrer reports.
This week, national media reports noted that U.S. Sen. Bill Nelson, D-Fla, is increasingly looking at challenging Gov. Rick Scott in 2014. That’s bad news for the Republican incumbent, SunshineStateNews.com‘s Jeff Henderson reports. More so than other Democratic possibilities looking at running next year — namely, former Governor Charlie Crist, former state CFO Alex Sink whom Scott beat in 2010, and former Democratic Senate Leader Nan Rich — Nelson would pose problems for the governor.
The first Workers’ Memorial Day was observed in 1989. April 28th was chosen because it is the anniversary of the formation of the Occupational Safety and Health Administration and the day of a similar remembrance in Canada, writes Joan Collier of WCI 360.com.
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