Capitol to Courthouse Florida Insurance Report: Friday, October 25
Oct 25, 2013
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.
10:00 a.m.–Florida Office of Insurance Regulation (“OIR”) hearing. The Florida Legislature has directed the OIR to “review Florida law and regulations to determine whether there are adequate protections for purchasers of life insurance policies in the secondary life insurance market to ensure that this market continues to exist for Florida seniors.” The OIR must issue a report to the Legislature on its findings by December 1, 2013. To view the hearing notice, click here.
In a news release, Homeowners Choice Property & Casualty Insurance Company, Inc., a wholly-owned insurance subsidiary of HCI Group, Inc. announced today its plan to offer flood insurance in the state of Florida. Homeowners Choice has submitted the related forms and rate filings with the Florida Office of Insurance Regulation.
While politicians have repeatedly tinkered around the edges of true Citizens Property Insurance Corp. reform, this session, legislators are looking to place substantial focus on the property insurance subsidies received by Citizens policyholders who live outside the state or country, R-Street Institute Director Christian Camera writes in this Ft. Myers News-Press Editorial Opinion.
The unclaimed property saga continues
New York Life Insurance Co. has agreed to pay $15 million to Florida and other state insurance regulators in a deal that resolves all state regulatory and comptroller/unclaimed property agency enforcement actions dealing with the company’s unclaimed property practices, Arthur Postal reports for National Underwriter’s LifeHealthPro.com.
Both Florida and New York are reporting that their respective workers’ compensation reforms are having an impact, but officials in both states indicated that further changes, likely through additional legislation, are necessary, Arthur Postal reports for National Underwriter’s PropertyCasualty360.com.
State agencies hoping to replenish their budgets next year in light of a healthy projected surplus may be in for disappointment, The Florida Current’s Gray Rohrer reports.
On the eve of the Florida Democratic Party’s election-year kickoff in Orlando, state Republican leaders ganged up on former Gov. Charlie Crist Thursday and said the Democrats are in “pathetic” shape if they can’t do better than nominating the former GOP governor next year, Bill Cotterell reports for The Florida Current.
New York’s two senators are asking that the Federal Emergency Management Agency give homeowners in the state affected by Superstorm Sandy more time to file suits against their insurance carriers, reports Arthur D. Postal for PropertyCasualty360.com.
With efforts to delay extreme hikes to flood insurance premiums stalled in the U.S. Congress, Louisiana state legislators have started to look at what they can do to address the sky-high rates residents are facing for flood insurance renewal, Julia O’Donoghue writes for NOLA.com and The Times-Picayune.
The North Carolina Captive Insurance Act, signed into law on June 19, is now in effect, allowing for the formation of captive insurance companies in the state, Insurance Journal reports.
Homes reach new heights to defy high wind and waves. Tough construction codes add design challenges; move-in with a forklift, Candace Jackson reports for the Wall Street Journal.
To unsubscribe from this newsletter, please send an e-mail to Brooke Ellis at email@example.com.