Capitol to Courthouse Florida Insurance Report – Monday, June 06, 2016
Jun 6, 2016
Governor Rick Scott has elevated the activation status of the State Emergency Operations Center in Tallahassee as Florida braces for the possible impacts of a tropical depression brewing in the Gulf of Mexico. Matt Dixon reports for Politico Florida.
HCI Group, Inc. (NYSE:HCI), a holding company primarily engaged in homeowners insurance, with additional operations in reinsurance, real estate and information technology, has appointed insurance industry veteran Ted Blanch as president of TypTap Insurance Company, HCI’s new online insurance company.
There was a significant increase in murders, rapes and motor vehicle thefts in Florida last year, according to crime statistics released by the Florida Department of Law Enforcement on Friday. The Associated Press’ Brendan Farrington reports via FloridaPolitics.com.
Governor Rick Scott won’t be able to appoint a new judge for the Palm Beach County court, the Florida Supreme Court decided Friday. Jim Rosica reports for FloridaPolitics.com.
As debate rages on whether states should be working toward plans to meet a new federal power-plant rule, nearly four months after the Supreme Court delayed its implementation, Florida officials say that they are still assessing the court’s move, and that they have time on their side. Bruce Ritchie reports for Politico Florida.
The Florida Supreme Court will hear arguments Tuesday over whether a nascent, small racetrack in the impoverished North Florida town of Gretna will turn the tables on the state’s gambling future. The Miami Herald’s Mary Ellen Klas reports.
It is the most crowded state Senate race in Florida and also is expected to be one of the nastiest and most expensive, as seven candidates vie for the District 23 seat covering Sarasota County and part of Charlotte County. Zac Anderson reports for the Sarasota Herald-Tribune.
The economic recovery has not brought back all the banking jobs of old, but it has produced 4,800 new high-paid positions since 2011 as more and more financial companies set up shop or expand their operations in Jacksonville, Andrew Pantazi reports for the Florida Times-Union.
Florida’s 154 banks and thrifts earned a combined $315 million in the first quarter, up 33.5 percent from 2015, according to data released last week by the Federal Deposit Insurance Corporation, John Hielscher reports for the Sarasota Herald-Tribune.
American International Group Inc. and Prudential Financial Inc.’s new capital rules should reflect the insurance business’s differences from Wall Street banking, the Federal Reserve said in a proposal to limit the chance that the companies could threaten the financial system. Bloomberg’s Jesse Hamilton reports via Insurance Journal.
Solvency II will increase insurers’ demand for reinsurance products as they seek to strengthen their capital positions via risk transfer, according to a report published by Fitch Ratings. L.S. Howard reports for Insurance Journal.
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