Capitol to Courthouse Florida Insurance Report: Friday, June 8

Jun 8, 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.

Daily Florida Insurance-Related Events

9:30 a.m.–Florida Division of Community Development Workshop.  In regard to hurricane evacuation modeling in the Florida Keys, focus will be on developing a memorandum of understanding between local governments and state agencies relating to the computer modeling variables, evaluating build-out potential of the Keys within the 24-hour clearance time and developing the basis for a new allocation of rate-of-growth units for the Keys.  To view the workshop notice, click here



    Daily Insurance-Related News


    Lender and insurer gouged me – and others – Florida homeowner says

    Think your homeowners insurance is outrageous? Mark Kunzelmann likely has you beat.


    Florida, New York City At Risk Of Greatest Property Loss In Hurricane Storm Surge Study

    ‎The area encompassing New York City, Long Island and northern New Jersey has the highest exposure in total property value at risk in the event of a large storm or hurricane, according to a report by data analysis firm CoreLogic.


    Blog:  Florida insurance reform push draws strange bedfellows

    ‎Tom Grady, interim chief of Florida’s Citizens Property Insurance Corporation, has been on a tour of the Sunshine State, trying to defend he and his board’s efforts to try to speed depopulation of the state-run insurer and place it on more sound financial footing.


    Florida Insurance Commissioner Kevin McCarty wants to expand private market for insurance  

    With hurricane season beginning and politicians still grasping at ways to deleverage state-run Citizens Property Insurance Corporation, the Business Journal spoke with Florida Insurance Commissioner Kevin McCarty about property insurance.


    Sarasota-Bradenton on nation’s Top 10 list for storm surge damage 

    Sarasota-Bradenton and four other Florida metro areas made a national Top 10 list on Thursday for the number of homes in the danger zone for hurricane storm surge.


    Report:  Citizens Property Insurance Corporation plans $1.25 billion debt offering 

    Citizens Property Insurance Corporation will bring $1.25 billion of bonds and notes to market the week of June 11.


    Holocaust survivors continue efforts to sue over unpaid life insurance

    They’ve been told no many times before, but Holocaust survivors across the United States aren’t giving up their fight to file suit in U.S. courts against European companies for unpaid life insurance policies sold before World War II worth billions of dollars.


    Report:  Florida signs $36 million Medicaid contract

    An online news service reported Thursday that the state has awarded a $36 million contract to a health plan that will transition Medipass patients in 31 rural counties into a managed care system.


    Blog:  Tampa provider of hospital sterilization services sold for $25 million to British company

    Tampa-based, publicly traded company SRI/Surgical Express will be acquired by British-based Synergy Health for $25.1 million to expand its U.S. business of providing sterilization services to hospitals.


    Economic report shows signs of hope for Florida, but fundamental problems remain

    Florida’s economic growth slowed in 2011, and foreclosures continue to hamper the recovery of the real estate market.


    Florida demands access to federal database to purge illegal voters 

    It’s a fight made for the digital age:  A battle between Florida leaders and federal officials over a government database that could help determine whether some foreigners are masquerading as eligible Florida voters.


    Blog:  And today’s qualifiers are …

    Here’s an updated list from my colleague Kathleen Haughney of who has qualified to run.


    Incoming Florida House Speaker Will Weatherford names chief of staff, communications director

    Incoming House Speaker Will Weatherford on Thursday named Capitol veteran Kathy Mears as his Chief of Staff and Ryan Duffy as his Communications Director.


    Blog:  Jim Norman qualifies, sets up three-way fight for Tampa-based district

    Though his status on the state elections website hasn’t officially switched to “qualified,” state Senator Jim Norman, R-Tampa, has submitted his final paperwork to make the ballot.


    Misleading email tarnishes Senate race between Representative Mike Weinstein, Aaron Bean

    Let the emails from shadowy organizations begin in the heated race for state Senate District 4.


    State judge sides with Department of Environmental Protection in water quality rules challenge

    Industry groups are backing the state’s proposed rules to replace federal rules that industry calls too expensive and difficult to meet.


    Florida takes aim at mercury pollution   

    Could the construction of power plants in Shanghai make it less safe to eat fish caught in the Everglades?


    Court clerks expect 11 percent statewide staff cuts

    Fallout from the Great Recession continues to be felt in Florida.


    Florida’s shrinking workforce is helping Governor Rick Scott reduce jobless rate, report says 

    Economists taking a fresh look at the state’s unemployment rate report findings that support workers’ organizations which say the state’s job picture may be improving because thousands of jobless Floridians are leaving the workforce.


    Louisiana Lawmakers Lower Costs for Citizens Property Insurance Customers Along Coast

    A last-minute provision added to legislation headed to the governor’s desk will give some relief to coastal property owners who get insurance through Louisiana’s state-run insurer of last resort.


    Industry Observers Debate Market Impact of State Farm’s Reserve Strength

    State Farm is in a strong reserve position, which may restrain the company from seeking aggressive rate increases, but two industry observers were at odds on the overall impact that may have on personal-lines rate increases in general.


    Consumer Group Says Auto Insurers “Lowball” Injury Payments with Computerized Systems

    A report by the Consumer Federation of America raises concerns that computerized claims systems used by many of the nation’s largest auto insurance companies can be easily adjusted to make “lowball” claims payments to injured motorists.


    Wall Street Journal:  A Safe Haven in “Cat” Bonds

    The forecasts of hurricane season that is less active than usual is increasing investors’ demand for catastrophe bonds, or cat bonds, which insurers use to transfer hurricane risks to investors, who receive regular payments for providing disaster coverage.


    Wall Street Journal:  Insurers Now Take Grain of Salt With Catastrophe Models   

    Property insurers are beginning to cast a more skeptical eye toward the disaster models that predict potential losses from hurricanes, a major shift prompted in part by changes one modeling firm made to its formulas last year.



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