Capitol to Courthouse Florida Insurance Report: Friday, March 7
Mar 7, 2014
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There are no events scheduled for today.
One of Florida’s largest homeowner insurers has announced it will once again begin writing new business in the state, just several years after canceling a substantial portion of its book of business, Insurance Journal’s Michael Adams reports.
Wells Fargo and HSBC Holdings have agreed to pay refunds to potentially hundreds of thousands of borrowers under deals to end allegations the banks overcharged for homeowners insurance, Miami federal court filings show. Wall Street Journal’s Leslie Scism and Saabira Chaudhuri report.
United Insurance Holdings Corp., a property and casualty insurance holding company know as UPC Insurance, reported the closing of its previously disclosed $57.5 million underwritten public offering of 4,600,000 shares of its common stock, Insurance Journal reports.
Although Florida has a high rate of uninsured Latinos – almost 10 percent of all the country’s uninsured Hispanics who are eligible for health insurance under the Affordable Care Act here — the state has done nothing to market the healthcare law, NPR reports via the Miami Herald.
Florida law already bars insurers from denying coverage or increasing premiums based on customers’ ownership of firearms or ammunition. But sponsor Matt Gaetz, R-Fort Walton Beach, said the bill (HB 255) “supercharges” the potential legal consequences against insurers by adding the prohibition to part of state law that deals with unfair and deceptive practices, NorthEscambia.com reports.
Just as Florida’s long struggle with rising property insurance costs seemed to be easing after eight years without a hurricane, the federal government stepped in this year and mandated large flood insurance rate increases, Halifax’ Zac Anderson reports via the Lakeland Ledger.
Florida driver’s licenses could soon be as close as a smartphone, Phil Ammann reports for SaintPetersBlog.com.
As legislators dig into the details of the budget, some of Governor Rick Scott’s ideas to slash taxes and fees could hit the cutting room floor even as lawmakers keep their eyes on his target of $500 million in total tax cuts, The Florida Current’s Gray Rohrer reports.
Crist’s political committee dramatically outraised Scott’s in February with “Charlie Crist for Florida,” the political committee backing the one-time Republican governor raising more than $800,000, while “Let’s Get to Work,” the committee behind Gov. Rick Scott’s re-election bid” brought in approximately $180,000, SaintPetersBlog.com’s Peter Schorsch reports.
A Senate committee approved a package of public records law changes Thursday to give Floridians faster access to official documents.
With a soulful personal commentary by its only Hispanic member, the Florida Supreme Court advised the Florida Bar Thursday that non-citizens who are in the country illegally may not become attorneys even if they were brought to America as small children, The Florida Current’s Bill Cotterell reports.
New Florida Capitol security rules will prevent overnight protests like the month-long sit-in following George Zimmerman’s acquittal on murder charges, Brendan Farrington reports on SaintPetersBlog.com.
As state lawmakers consider legislation to tighten the rules for assisted living facilities in Florida, the top state official in charge of enforcing the law on elder-care homes announced Thursday that he’s found a new job: working for the same industry he regulated, The Miami Herald’s Mary Ellen Klas reports.
An Oklahoma judge has ordered Farmers Insurance and a subsidiary to pay a total of $15 million to three plaintiffs who filed property claims resulting from an EF-3 tornado that struck Woodward, Oklahoma in 2012, killing six people and injuring 29, Christina Bramlet reports for National Underwriter’s PropertyCasualty360.com.
The University of Nevada’s seismic-simulation facility became the largest in the United States and second largest in the world this week with an expansion that included moving three new 27-ton shake table tops into the school’s new Earthquake Engineering Laboratory, National Underwriter’s PropertyCasualty360.com reports.
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