Capitol to Courthouse Florida Insurance Report: Monday, June 4
Jun 4, 2012
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Daily Florida Insurance-Related Events
There are no insurance-related events scheduled for today.
On Day 1 of hurricane season, Florida Governor Scott suggests national pool for windstorm insurance
Many Florida homeowners live in fear of losing their windstorm insurance.
Florida Catastrophe Fund’s Financial Condition Triggers A.M. Best Review of Insurer Ratings
Insurers writing homeowners coverage in Florida could see a revision in their financial ratings after one of the nation’s top rating companies announced it will reconsider them in light of the financial problems faced by the state-back reinsurance facility.
Insurers, agents see rates as key to shrinking Citizens Property Insurance Corporation; others wary
Insurance companies think higher rates are necessary to entice the private market to pick up Citizens policies, but realtors and some lawmakers say it could discourage home buyers and they wonder whether private insurance carriers will swoop in to take on policies from the state-run insurer.
Blog: Citizens Property Insurance board goes on the road
With its policy count near 1.5 million and growing, officials of the state-backed property insurer went to Tampa Friday to get ideas on how to reduce its exposure and send customers back to the private market, reports Michael Peltier of the News Service of Florida.
Impact of Hurricane Andrew: Better homes
It’s a random concrete-block home under construction in a humble Miami neighborhood, but it captures an important legacy of Hurricane Andrew.
Column: One word explanation for growth of Citizens Property Insurance – politics
In case you were wondering how Citizens Property Insurance Co. went from being an insurer of last resort with high rates to being an insurer of first resort with relatively low rates and a portfolio that threatens both customers and non-customers with gargantuan risks, here’s what happened.
Column: It’s hurricane season – and it may cost you
If you place stock in surveys of voters who still have two years to change their minds, former Republican-turned-Indy Governor Charlie Crist could beat current Governor Rick Scott by a double-digit margin.
Editorial: Citizens Property Insurance is a bargain with an expensive bite
Citizens Property Insurance Interim President Tom Grady is on a listening tour of Florida, but he also has an unusual message from the Chief Executive Officer of a multi-billion dollar insurance company: Don’t buy my product.
Wall Street Journal: Florida Worry Season Starts
Thanks to six straight years without a hurricane and a welcoming market for so-called catastrophe bonds, Florida’s state-run insurance program started the storm season in better shape than in past seasons to pay damage claims.
Storm protection may be big business for summer
Despite predictions for a quiet hurricane season, Southwest Florida makers and sellers of major protection products are cautiously optimistic they’ll have a prosperous summer.
FEMA to make changes to flood maps, will remove 10,000 Collier County properties from high-risk zone
Flood map information seems to be changing like the wind.
Florida Insurer Gives County An $800,000 Break
Wellness programs help premiums.
Florida Agent Association Tops 2,000 Members
The Florida Association of Insurance Agents, which represents thousands of independent agents statewide, has topped more than 2,000 agencies for the first time in its history.
Blog: Unknown drug-dispensing company becomes top Capitol piggy-bank
It’s a fight between Capitol insiders with pocketbook implications for thousands of injured workers, a battle between doctors selling marked-up medications and insurers trying to protect their bottom lines.
State accommodates counties on Medicaid billing, but sticking points remain
Next week the Agency for Health Care Administration will wrap up its meetings with the final three of the state’s 67 counties, which will also a face a deadline to pay the state for the first round of monthly bills.
Florida Department of Health’s disease control director resigns
The state epidemiology director’s departure is another in a series of high-ranking officials to leave the agency during the past several months, according to Health News Florida.
Florida’s political season moves at a brisk clip
Florida’s political season has never been more unsettled heading into the summer than this year.
Double-dipping no longer an option for state workers
Changes to the state employee retirement program aimed at eliminating abuses and excessive payouts are in place although a dwindling number of state government workers are still banking two retirement checks.
Drones could soon be flying in Florida skies
Drones that have killed hundreds, if not thousands, of suspected terrorists in the tribal regions of Afghanistan and Pakistan soon may be patrolling the skies over Florida and the rest of the United States.
Company to offer passenger rail from Miami to Orlando with possible expansion to Jacksonville
Florida East Coast Industries is planning to offer passenger rail service from Miami to Orlando within the next two years.
On first day, new Northwest Florida water chief says “conspiracy theories” are untrue
Jon Steverson, special counsel and chief of legislative affairs at the Department of Environmental Protection before being picked to lead the Northwest Florida Water Management District, rejects theories about a department takeover of the districts.
New model to forecast rapid hurricane strengthening
Forecasters at the National hurricane Center admit they struggle to anticipate when tropical systems might rapidly intensify.
Effort Under Way to Stop Louisiana Citizens Property Insurance Rate Increase
Louisiana State Senator Dan “Blade” Morrish, a member of the board of directors of Louisiana Citizens Property Insurance Corporation, says he is working with legislators, the state Insurance Department, insurance industry officials, insurance agents and others to provide some relief for homeowners by staving off a large rate increase for wind-only policies through an amendment to proposed legislation.
Louisiana Hires Advisor to Help Critique Hurricane Models
With a new generation of hurricane computer models making it easier for insurance companies to make arguments to raise rates, Louisiana Insurance Commissioner Jim Donelon said he has put the woman who is considered the founder of the computer modeling world on retainer to help Louisiana poke holes in insurer’s arguments.
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