Capitol to Courthouse Florida Insurance Report–Friday, May 16
May 16, 2014
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There are no events scheduled for today.
United Insurance Holdings Corp. agreed to buy Sunshine State Insurance Co., a property and casualty firm operating under a consent order with Florida insurance regulators, reports Margie Manning for Tampa Bay Business Journal.
- Troubled Florida insurer acquired by rival
- Sunshine State Insurance Company Acquisition Satisfies Consent Order
A new report predicts the state’s reinsurance fund could borrow up to $8.3 billion if a major hurricane hit, meaning with its surplus and pre-event bonding of $13 billion, it could easily cover its maximum $17 billion in coverage.
The U.S. homeowners insurance industry benefited from lower catastrophe activity in 2013 and became profitable for the first time since 2007, according to an analysis by SNL Financial. Insurance Journal reports.
EverBank Center’s representative said today the owners will bid to bring Citizens Property Insurance Corp. to the Downtown tower if they can. Karen Brune Mathis reports for the Jacksonville Daily Record.
Gov. Rick Scott is promising to release his tax returns and hand over whatever financial details are required by the courts, reports James Call for the Florida Current.
Florida’s Republican legislators and their political consultants mounted a last-minute attempt Thursday to keep key emails, maps and planning documents out of a court case that is scheduled to begin next week over the state’s congressional districts. Mary Ellen Klas reports for the Tampa Bay Times.
Florida legislators did put one constitutional amendment on the November ballot during their 2014 term, and it has long-term political implications for the Florida Supreme Court. The Florida Current reviews the issue.
The 2014 legislative session was expected to be ho-hum because of the light agenda and likelihood that controversial bills filed by Democrats would not be heard in committees. The Florida Current reviews the issues.
Several African nations – including Kenya, Mauritania, Mozambique, Niger and Senegal to start — are now better protected from extreme weather events as a result of a new African catastrophe insurance pool, launched Thursday by the African Risk Capacity (ARC). Tim Sprinkle reports for PropertyCasualty360.com.
In addition to networking, meeting and learning during this year’s 88th annual meeting of the American Association of Managing General Agents (AAMGA) in Hawaii on May 18-21, representatives from all corners of the wholesale insurance market will be working together to adapt to meet the changing needs of AAMGA members. Brian Anderson reports for Insurance Business America.
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