Capitol to Courthouse Florida Insurance Report: Friday, August 30

Aug 30, 2013


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Daily Florida Insurance-Related Events


There are no Florida insurance-related events scheduled today.



Daily Florida Insurance-Related News


Private companies make grab for Citizens policies as clearinghouse nears

Ten companies were approved by Florida regulators to take over 393,732 policies from Citizens Property Insurance Corporation–about one-third of its total policies, The Florida Current’s Gray Rohrer reports.


Montford says he’s not seeking to reopen septic tank inspections debate

Sen. Bill Montford says he’s not suggesting that the Legislature revisit the action taken by the Legislature in 2012 when it repealed a statewide inspection requirement, Bruce Ritchie reports for The Florida Current.


A.M. Best Affirms Ratings of Castle Key Group Members

A.M. Best Co. has affirmed the financial strength rating (FSR) of B- (Fair) and issuer credit ratings (ICR) of “bb-” of the members of Castle Key Group of St. Petersburg, Florida, A.M. Best reports in a news release.


Florida is No. 2 in the nation for rate of uninsured

Florida has the nation’s second-highest rate of uninsured residents younger than 65 – a total of about 3.8 million people, or about 25 percent of the state’s population, including more than 500,000 younger than 19, according to U.S. Census data released Thursday, the Miami Herald’s Dan Chang reports.


Florida Insurers, Hospitals Findings Ways to Cut Costs

As health care costs rise in Florida, insurers and hospitals vested in the success of the Affordable Care Act, are coming up with new ways to cut costs from buying services in bulk and piloting programs to lowering hospital readmission rates and limiting the number of doctors within a plan’s network, Associated Press’ Kelli Kennedy reports via Insurance Journal.


Teamsters sue Florida over special-comp time

The Teamsters union contends that when it comes to compensatory time off that prison officers must “use it or lose it” and often lose hours they’ve earned, The Florida Current’s Bill Cotterell reports.


Marianna Tight-Lipped as Dozier School Grave Excavations Near

As university researchers prepare to dig into an unsavory chapter of Marianna’s past, many in the rural Panhandle community would simply prefer the issue remain buried, THE NEWS SERVICE OF FLORIDA’s Jim Turner reports via


PECO’s Promise:  No room to borrow for Florida school construction

Florida lawmakers borrowed heavily against a revenue stream dedicated to school construction. Then a debt-adverse governor was elected and money for new school buildings dwindled to a sprinkle, The Florida Current’s James Call reports in Part 2 of a series.


BP Win on Spill Insurance Withdrawn by U.S. Appeals Court

A U.S. appeals court withdrew its decision finding BP Plc (BP/) had access to $750 million in Transocean Ltd. (RIG)‘s insurance to pay costs from the 2010 Gulf of Mexico oil spill, in order to ask the Texas Supreme Court a question on coverage, Margaret Cronin Fisk of Bloomberg reports.


Lawsky, New York Department of Financial Services Probing Lloyd’s Iran Dealings

The New York Department of Financial Services is asking Lloyd’s of London officials for details about an internal Lloyd’s market probe regarding potential violations by its managing agents of U.S. laws barring companies from doing business with Iran, Arthur Postal reports for National Underwriter’s


Moody’s:  Price Adequacy Strengthens U.S. Personal Lines Carriers

The U.S personal lines insurance industry remains financially sound despite significant catastrophe losses last year from high frequency, low-severity events and Superstorm Sandy, Moody’s Investors Service says in a new industry outlook report, Arthur Postal writes for National Underwriter’s


No Insurer Assessments for Texas Windstorm Insurance Association, for Now

Despite pleas from officials and policyholders in Texas Gulf Coast communities, the board of the state’s insurer of last resort for wind along the coast has decided not to assess it member insurance companies for losses resulting from Hurricane Ike, Stephanie K. Jones reports for Insurance Journal.


In For the Long Term

The inflow of third party capital into the reinsurance market shows no sign of abating, helped by the prolonged low interest rate environment on both sides of the Atlantic, Graham Buck reports for Risk and Insurance Digital Network.


Fitch:  Global reinsurance outlook remains stable

Fitch Ratings have forecast that insurance pricing will decline, while their outlook for global reinsurance sector ratings is stable, the Royal Gazette reports.


Best’s Review Webinar Examines the Surplus Lines Sector of the U.S. Insurance Market

A panel of industry leaders in the surplus lines sector of the U.S. insurance market will review market trends and highlights of a new A.M. Best report in a September 24 Webinar.


NCCI Updates Study on Workers’ Compensation Total Disability Indemnity Benefit Duration

The National Council on Compensation Insurance (NCCI) has published a new research report that examines recent trends in workers compensation temporary total disability indemnity benefit duration, Joan Collier’s reports.



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