Capitol to Courthouse Florida Insurance Report: Monday, February 25
Feb 25, 2013
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There are no Florida-related insurance events scheduled for today.
As lawmakers continue to grapple with how to slash Citizens Property Insurance Corp.’s list of 1.3 million policyholders and the massive risk it represents, one group has emerged as a potential target: Non-Floridians.
Coming on the heels of a major deal that transferred 31,000 coastal policies and $30 billion in gross exposure to private start-up Weston Insurance Co., Florida’s state-run Citizens Property Insurance Corp. is moving to shift even more risk to the private sector with a planned $250 million catastrophe bond issuance.
Insurance companies need insurance too, and this type of insurance – called reinsurance – can impact the price of homeowners insurance.
He says he is protective of Florida families, but Governor Rick Scott can’t get a grip on one of the big pocketbook issues for many of them: The rising cost of homeowner insurance.
The Maryland insurance executive charged with cleaning house at Citizens Property Insurance has had trouble sticking to the tighter travel expense policy he put in place.
Raise your hand if you have read your entire homeowner’s and automotive insurance policies, as well as each “Important Notice” that arrives in the mail.
An Illinois tornado boldly witnessed as a child sparked an interest in weather that has stayed with Scott Cordero as he’s forecast floods and hurricanes and worked a typhoon’s aftermath.
A politically active Hialeah pain clinic owner surrendered Friday on allegations that he engineered illegal campaign contributions to candidates across the state.
The U.S. District Court in Pennsylvania ruled last week that multiple claims that arose from allegedly defective drywall that the insured entity imported in one single shipment from China should be considered a “single occurrence” for the insurance coverage.
As legislators have in the past, expect disagreements to continue between the House and Senate as the 2013 regular session progresses.
Here’s one of the eternal truths of American politics: The stories never stop, even after a presidential election.
Lawmakers will continue efforts to improve Florida’s education system by leveraging digital technology and charter schools as competitive forces to change public schools.
New York Governor Andrew Cuomo announced Thursday that the Department of Financial Services is investigating the claims practices of three insurers following the aftermath of Superstorm Sandy.
Texas Insurance Commissioner Eleanor Kitzman could have trouble keeping her job as she goes before state senators for confirmation.
A plan to phase out Oklahoma’s Workers’ Compensation Court and switch to an administrative system has been endorsed by all of the state’s major political players and is being praised by state business leaders as a way to drive down insurance costs.
Hurricane Sandy is long past, but in its wake, retailers and others are modifying “just-in-time” inventory practices and carrying appropriate levels of merchandise.
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