Capitol to Courthouse Florida Insurance Report: Friday, May 8, 2015
May 8, 2015
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.
11:00 a.m.–Florida Division of Insurance Agents and Agency Services Rule Development Workshop. Tallahassee, Florida. Rule 69B-231.020 sets forth the scope of Chapter 69B-231, which contains penalty guidelines for insurance representatives licensed by the IAAS. Proposed amendments to the Rule would provide that the Chapter is applicable to managing general agents and surplus lines agents. It also deletes subsection (2) since it unnecessarily lists licensees that are not subject to the Rule Chapter. To view the workshop notice, click here.
A dispute over whether Deloitte & Touche LLP should be held liable for Florida’s biggest-ever insurance-company collapse is headed toward its conclusion in a Tallahassee, Florida, courtroom. The Wall Street Journal’s Michael Rappoport reports.
More than 30,000 insurance policies have been approved to move from Citizens Property Insurance to private insurers, bringing the total number of policies approved for being shifted out to 632,286. Alexa Epitropoulos reports for the Jacksonville Business Journal.
Climate change is already forcing parts of the Sunshine State to adapt or sink, and rising sea levels are expected to impact everything from insurance rates to racial relations as Southwest Florida feels more of the ecological sting. Chad Gillis reports for the Ft. Myers News-Press.
A measure sponsored by Florida Senator Jeff Brandes aimed at increasing flexibility and lowering premiums on insurance premiums has made it as far as the Governor’s Office, where it sits pending his approval, SaintPetersBlog.com reports.
After striking out with federal officials, Governor Rick Scott accelerated his efforts Thursday to secure federal funding for hospitals’ care for the poor, filing an injunction aimed at preventing the Obama Administration from ending the program. The Orlando Sentinel’s Gray Rohrer reports via the “Central Florida Political Pulse” blog.
The vast majority of Florida legislators won’t have much to do during the upcoming Special Session, SaintPetersBlog.com’s Peter Schorsch writes, asking “What could possibly go wrong?”
Special interest groups whose issues weren’t resolved this spring have no guarantee they’ll secure a spot on the agenda for the special session scheduled to start June 1. And many of them aren’t even trying, opting instead for a rallying cry they might make after a more typical session: Wait until next year. Michael Auslen reports for the Tampa Bay Times.
MetLife Inc.’s lawsuit challenging its designation by regulators as critical to the economy should be thrown out, U.S. Justice Department lawyers said without making public their arguments to the judge. Bloomberg’s Andrew Zajac and Ian Katz report via Insurance Journal.
The chairman of the Senate Banking Committee is pushing ahead with a bill to ease rules across sections of the financial industry after the first round of efforts to work with his Democratic counterpart failed, Reuters Michael Flaherty reports via Insurance Journal.
Fidelity Fire & Casualty Company has merged with First Protective Insurance Company. As First Protective Insurance Company and Fidelity Fire & Casualty Company had both earned Financial Stability Ratings® of A, Exceptional, from Demotech, Inc., the FSR assigned to First Protective Insurance Company, the surviving entity, the FSR of A, Exceptional, has been affirmed. InsuranceNewsNet.com reports.
Homeowners insured through the National Flood Insurance Program who think they were shortchanged for Superstorm Sandy damage are getting another chance for reimbursement. The Associated Press reports via the New York Daily News.
Police who ask drivers for proof of auto insurance in New Jersey will have to accept images on a phone, tablet or computer, the Associated Press reports via the New Jersey record.
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