Capitol to Courthouse Florida Insurance Report: Friday, July 13
Jul 13, 2012
To go directly to the section of your choice, click on a hyperlink below. Other hyperlinks to meeting information, bills and news are noted in bold type.
10:00 a.m.–Citizens Property Insurance Corporation (“Citizens”) Information Systems Advisory Committee meeting. Teleconference: 866-361-7525; participant code: 4869641229#. To view the meeting notice, click here.
1:00 p.m.–Citizens Claims Committee meeting. Teleconference: 866-361-7525; participant code: 5219676193#. To view the meeting notice, click here.
Barry Gilway encountered several surprises in his first days on the job as the new president and CEO of state-run Citizens Property Insurance Corp.
Wells Fargo Bank charges inflated premiums when it procures “force-placed” property insurance for homeowners whose coverage has lapsed, a Pompano Beach, Fla., lawyer claimed in a lawsuit.
In the weeks since the Supreme Court ruled that states could opt out of a plan to vastly expand Medicaid under President Barack Obama’s health care law, several Republican governors have vowed to do just that, attacking the expansion as a budget-busting federal power grab.
Florida Health Choices, which is building an insurance website for small employers, has switched contractors after accusing the first one of lax security and outsourcing some work to China.
Foreclosures were down nationwide through the first six months of 2012, but jumped more than 20 percent in Florida. However, filings dropped 5.67 percent in June in the year-over-year comparison.
Florida had the most mortgage fraud investigations in 2011 compared to the number of new loans, according to a new report.
In her letter, the Senate Democratic Leader wrote that none of the details of the outbreak were broadly disseminated as the vote to close the hospital neared.
For proof of how demographic shifts and redistricting are shaking up the political calculus in Central Florida, look no further than the races shaping up in Metro Orlando around several newly drawn, Hispanic-populated legislative districts.
During the 2012 legislative session, bills that would have repealed the 2006 law were never heard in committees.
A senior member of the House Financial Services Committee today asked the Federal Insurance Office to conduct a comprehensive review of the operations and structure of the National Association of Insurance Commissioners.
Allstate is dropping about 10,000 South Carolina home insurance customers.
The board of the state-run property insurer voted Thursday to impose a 3.74 percent assessment on all commercial and personal policyholders in the state starting January 1.
Nationwide, state-run insurers covered $884.7 billion worth of property in 2011, more than double the $419.5 billion covered in 2005.
A combination of higher coastal populations, artificially suppressed rates for last-resort insurers, and the inability of insurers to charge rates commensurate with risk along the coast has driven the residual property market in hurricane-exposed states to new peaks in both exposure value and policy levels, says the Insurance Information Institute.
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