Capitol to Courthouse Florida Insurance Report – Monday, May 09, 2016
May 9, 2016
In this A.M.BestTV episode from the annual conference of the Florida Association for Insurance Reform, insurance leaders said Florida must revise an out-of-control system that allows mitigation companies to take control of homeowners insurance claims and drive up rates.
A coalition of consumer and physician groups is calling on Florida Attorney General Pam Bondi to investigate two big insurance mergers. Jenna Buzzacco-Foerster reports for FloridaPolitics.com.
The Main Street America Group announced the promotion of one company officer to assistant vice president and the appointment of three new company officers in its Jacksonville, Florida headquarters, Insurance Journal reports.
The amount of local funding is enough to handle day-to-day and regular mosquito season needs, officials from Escambia and Santa Rosa counties say. But is it enough should a Zika infection break out locally, instead of from a far flung place? The Pensacola News-Journal reports.
A South Florida Corporation that was investigated after an argon gas leak killed three men on a cargo ship in Port Everglades could face $7 million in fines after the company pleaded guilty this week to criminal charges of violating hazardous materials regulations, prosecutors said. The Sun-Sentinel’s Paula McMahon reports.
In the third case of its kind filed this week in the Florida Supreme Court, a Lakeland attorney is challenging whether Governor Rick Scott should be able to appoint a replacement for a circuit judge who plans to retire in December. THE NEWS SERVICE OF FLORIDA’s Jim Saunders reports via Highlands Today News.
A charter school management company which has operated schools statewide was indicted this week by a Florida Panhandle grand jury, accused of fraudulently billing a charter school for supplies, equipment and services. The Associated Press’ Gary Fineout reports for the Lakeland Ledger.
Florida’s $143 billion pension fund has been on a “circular roller coaster ride” this year, which could result in the first year of a negative return since the fund plummeted 19 percent in 2009. Lloyd Dunkelberger reports for the Sarasota Herald-Tribune.
The U.S. Department of the Treasury announced several actions to strengthen financial transparency and combat the misuse of companies to engage in illicit activities.
Louisiana’s Office of Motor Vehicles reminds drivers whose vehicles are insured by Affirmative Insurance or Affirmative Casualty Insurance that they need to have new coverage by 11:59 p.m. Wednesday. Otherwise, says Commissioner Karen G. St. Germain, they could face a penalty for canceled insurance, the New Orleans Times-Picayune reports.
The Boston Globe Editorial Board notes that the title of a new report on home insurance rate-setting in Massachusetts neatly sums up the authors’ opinion of how the current system works: “Behind Closed Doors.” The study, from the state Senate’s Post Audit and Oversight Committee, details an arcane and secretive process that largely benefits insurers at the expense of consumers, and it presents a solid case for opening that door.
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