Capitol to Courthouse Florida Insurance Report: Monday, February 11
Feb 11, 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.
9:00 a.m.–Citizens Property Insurance Corporation (“Citizens”) Board of Governors meeting. Teleconference: (888) 942-8686; conference code: 5743735657#. Agenda includes consideration of a Florida Office of Insurance Regulation-approved wind-only takeout. To view the meeting notice, click here.
10:00 a.m.–State Board of Administration Audit Committee meeting. To view the meeting notice, click here.
Jupiter firm offers ‘consumer-oriented’ view some dispute
Grades from Weiss Ratings might surprise homeowners accustomed to hearing debates in Tallahassee about the risky shakiness of state-run insurer Citizens – it gets an A plus for financial strength.
The insurance rating firm Weiss Ratings gave state-run insurer Citizens an “A+” but many other insurers operating in Florida did not fare quite as well.
Out-of-state property owners now using Citizens Property Insurance — of which nearly 50,000 have billing addresses in New York or somewhere in France — may be culled into private hands.
The Senate Banking and Insurance Committee released the rough sketches of a bill imposing massive changes on the property insurance market Wednesday, attempting to move as much of the state’s risk into the private sector as possible.
With areas still rebuilding from Hurricane Sandy, and before the blizzard named Nemo arose, U.S. Rep. Tom Rooney, R-Punta Gorda, picked up some bipartisan support from the Northeast for his continued efforts to pool resources and spread the risk of paying for future disasters.
Citizens Property Insurance Corporation’s intended role is to be a residual market and serve as the state’s insurer of last resort. Unfortunately, this has not been the case for many years, and currently 23 percent of Florida property insurance is underwritten by Citizens.
Legislature seems eager to do insurance industry’s bidding
An ill wind is blowing from Tallahassee, and that means South Florida homeowners better batten down their wallets.
Customers end up covering private insurers that fail
The Florida Senate is drafting proposals to shrink state-run property insurer Citizens and drive customers to private carriers. But ask Hope Leet if South Florida’s private insurance market feels like a reliable sanctuary right now.
Universal Property & Casualty Insurance Co. received approval from the Florida Office of Insurance Regulation to raise homeowners insurance rates an average of 14.1 percent.
Working through a federal and local bureaucratic tangle, Florida Keys homeowners are slowly being removed from a list of properties barred from receiving federally subsidized flood insurance.
Florida’s highest court has ruled a homeowner cannot re-open a voluntarily dismissed foreclosure case despite allegations that the bank falsified documents, giving a win to banks in a closely watched ruling that could have affected thousands of cases in a state hit hard by the foreclosure crisis.
Two separate polls find that if it was up to voters, an initiative to provide Medicaid coverage to the poor would win in a landslide.
Trying to prevent what one official described as “white-knuckle moments” for families, the state plans to change the way it determines the home-based services that will be provided to children with highly complex medical needs, reports Jim Saunders of the News Service of Florida.
When the trial of former Republican Party of Florida chairman Jim Greer on corruption charges begins Monday, it will likely include testimony about questionable behavior and intraparty strife that will make both GOP leaders and rank-and-file members cringe.
The New Port Richey Republican says he will distribute more than $100,000 among charities in his district.
Hundreds of bridges older than 50 get maintenance rather than costly replacements
Up until the year it was set to be replaced, the Ocean Avenue Bridge in Lantana was repeatedly getting patched up.
The president of the state Senate says Florida should do more for its springs. Thousands of people have petitioned Gov. Rick Scott for more protection and restoration for the springs. A group of local government officials in North Florida has formed an activist group to push for legislation.
In all his years on the job, Rob Van Houdt had never seen anything like the human circus that unfolded at levees L-67A and L-67C over the past four weeks.
Minnesota Commerce Commissioner Mike Rothman has promoted Tim Vande Hey to deputy commissioner of the Insurance Division for the Commerce Department.
Newly-re-elected commissioner hopes calls for auto reform don’t stifle homeowners reforms.
To unsubscribe from this newsletter, please send an e-mail to Brooke Ellis at email@example.com.