Capitol to Courthouse Florida Insurance Report – Friday, October 14, 2016
Oct 14, 2016
Hurricane Matthew May Be Gone, But Insurance Industry’s Work is Just Starting
It’s been nearly a week since Hurricane Matthew Ravaged the Southeast Coast but the Insurance Industry’s job of responding to the devastation and assessing the total cost of damage from the storm is just beginning. With flood waters still rising in North Carolina, the industry is expecting to feel the effects of the storm for some time. Insurance Journal’s Amy O’Connor reports.
Experts Warn of Long Waits for Post-Hurricane Home Repairs
There will be plenty of large-scale reconstruction to do in the wake of Hurricane Matthew, which has been blamed for dozens of deaths since it made its first U.S. landfall Friday and is still causing catastrophic flooding throughout Eastern North Carolina. Bloomberg’s Patricia Clark reports via Insurance Journal.
Hurricanes Leave Florida Coasts Vulnerable to “King Tides”
Flood Warnings have been issued for parts of Florida’s Atlantic Coast experiencing annual “King Tides.” The Associated Press reports via the Miami Herald.
Kennedy Space Center Reopens After Suffering Significant Hurricane Damage
NASA’s Kennedy Space Center reopened for business Tuesday, relying on Industrial Air Conditioners rushed in from around the Country in the wake of Hurricane Matthew. The Associated Press’ Marcia Dunn reports via Insurance Journal.
With Power Fully Restored, FPL to Assess Grid’s Storm Performance
Florida Power & Light Co. on Thursday announced that electric service has been restored to all of the more than 1.2 million customers affected by Hurricane Matthew. The Utility also said it has begun a review of its Storm Response Performance. Susan Salisbury reports for the Palm Beach Post.
Consumers Scramble as Tenet Hospitals, Insurer Humana Slash Network Ties
Consumers are being forced to deal with the fallout as one of the biggest Hospital Chains serving Palm Beach County, Tenet, is telling Customers it is no longer in the Network of one of the biggest insurers, Humana. The Palm Beach Post’s Charles Elmore reports via the “Protecting Your Pocket” blog.
NCQA: Florida Has Among Best, Worst Medicaid HMOs
Coventry Health Care of Florida Inc. earned an overall Rate of 4.0, placing it in a “Higher Performance” Category. Part of the Aetna Company, it is the only Medicaid HMO in Florida in the Top Category, Politico Florida reports.
Mosquitoes Spreading Zika in Another Miami Neighborhood
At least five people have contracted Zika Virus from mosquitoes in Miami’s Little River neighborhood, Governor Rick Scott announced Thursday, identifying a 1-square-mile zone where the disease is spreading, the Miami Herald reports.
Florida Using “Overwhelming Force” to Fight Flesh-Eating Screwworms
After the US Department of Agriculture confirmed a Local Infestation of New World Screwworm in Keys Deer on September 30, State Commissioner of Agriculture Adam Putnam declared an Agricultural State of Emergency in Monroe County, the home of Key West. Susan Scutti reports for CNN.
Citrus Decline Continues in Florida
Citrus production continues to plummet in Florida, as the first forecast for the 2016-2017 growing season indicates a 14 percent drop in the State’s Orange Crop. THE NEWS SERVICE OF FLORIDA’s Jim Turner reports via SunshineStateNews.com.
Federal Judge in Florida Says Disney Didn’t Violate Visa Laws in Layoffs
A Federal Judge in Florida dealt a blow on Thursday to Legal Claims by American Technology Workers who were laid off by the Walt Disney Company and forced to train foreign replacements, dismissing Lawsuits by two workers who said Disney had conspired with outsourcing companies to violate Visa Laws. Julia Preston reports for the New York Times.
Florida, Georgia Prepare for Federal “Water Wars” Trial
A Decades-Long fight between Florida and Georgia over the supply of water in the States’ shared Watershed is headed to Trial, despite the pleas of a Special Master appointed by the U.S. Supreme Court to reach a Settlement instead. Kathleen Foody reports for the Associated Press.
Tweak in Florida Pension Projection Comes With a Cost
State Analysts agreed Thursday to lower the Expected Rate of Return on Florida’s $144 Billion Pension Fund, while warning that it may be the first in a series of annual downward adjustments. THE NEWS SERVICE OF FLORIDA’s Lloyd Dunkelberger reports via SayfieReview.com.
In Florida, It’s Retirees Versus Latinos
Hispanics account for 18% of Florida’s Adult Population that’s eligible to Vote, but they make up under 15% of the State Registered Voters, according to Pew Research. Heather Long reports for CNN Money.
Labor Report Urges Study of a Federal Role in State Workers’ Comp Laws
A “Race to the Bottom” in State Workers’ Compensation Laws has the Labor Department calling for “Exploration” of Federal Oversight and Federal Minimum Benefits. NPR.org’s Howard Berkes explores.
U.S. Adjustments to Rules on Tax Inversions Include Exemption for Insurers
The U.S. Treasury Department softened New Rules aimed at preventing multinational Companies from shifting their Profits Offshore to Lower-Tax Countries — a response to sustained criticism from Big Business and from Members of Congress, who’d asked that they be delayed and scaled back. Bloomberg’s Lynnley Browning reports via Insurance Journal.
Sompo’s Endurance Deal Shows Undulation in Insurance Sector
Sompo Holdings’ Acquisition of a Casualty Insurer focused on the U.S. Market reflects a bold proactive strategy to strengthen its position in a market undergoing radical changes, Kosuke Takami reports for Nikkei.com.
Click here to follow Colodny Fass on Twitter (@ColodnyFassLaw)
To unsubscribe from this newsletter, please send an e-mail to colodnyfassnews@gmail.com.