Capitol to Courthouse Florida Insurance Report: Thursday, April 3
Apr 3, 2014
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There are no events scheduled for today.
A longtime Fort Lauderdale lawyer who rolled the dice on a criminal trial – and lost – was sentenced to 10 years in prison Tuesday for his supporting role in a $1 billion-plus insurance-investment scam, among the largest financial frauds in Florida history, the Miami Herald’s Jay Weaver reports.
Coming soon to a home-sale closing near you: A small fee tacked onto all title insurance policies to pay for the multimillion-dollar collapse of an Orlando title company, Orlando Sentinel’s Richard Burnett reports.
Florida drivers will see an average $25 drop in vehicle registration fees starting Sept. 1, after Gov. Rick Scott signed SB 156 into law Wednesday, a $395 million per year cut in the fees, The Florida Current’s Gray Rohrer reports.
Budgets are on the minds of Florida legislators, as both the House and Senate are in session Thursday to approve each chamber’s spending plan before the final negotiations begin, Phil Ammann reports for SaintPetersBlog.com.
Both chambers of the Florida Legislature advanced plans Wednesday for additional tax cuts next fiscal year, including cuts to cable bills, sales tax holidays for select items, tax credits for television production and other revenue-trimming ideas, The Florida Current’s Gray Rohrer reports.
A bill that would arm school officials is speedily making its way through the Florida House of Representatives, where the Justice Appropriations Subcommittee approved it by a vote of 8-4, Allison Nielsen reports for SunshineStateNews.com.
Since joining the Legislature in 2006, Senate President Don Gaetz has consistently tried to limit damage awards, which also limits lawyers’ fees, Tampa Bay Times’ Michael Van Sickler reports.
As the Florida Legislature concluded the 30th day out of its 60-day annual session today, House Speaker Will Weatherford said he is pleased with the progress that lawmakers are making, Sarasota Herald-Tribune’s Lloyd Dunkelberger reports.
A Senate bill that would require competitive bidding for state petroleum site cleanups cleared its second committee stop on Tuesday with an amendment that won support from site owners and cleanup contractors, The Florida Current’s Bruce Ritchie reports.
The Supreme Court struck down limits Wednesday in federal law on the overall campaign contributions the biggest individual donors may make to candidates, political parties and political action committees, the Associated Press reports via SaintPetersBlog.com.
The National Governors Association expressed concern in a letter to Treasury Secretary Jacob Lew about December’s Federal Insurance Office regulatory modernization report and its role in the larger state vs. federal regulation debate, Phil Gusman reports for National Underwriter’s PropertyCasualty360.com.
JPMorgan Chase & Co. will manage funds for a Bermuda-based reinsurer that raised $1.13 billion in capital, concentrating the investments in junk bonds, Dan Reichl and Zachary Tracer report for Bloomberg.
After a seven-year legal-battle, a single insurance company continues to fight the state of Louisiana over post-Katrina wind payouts, Robert McClendon reports for The Times-Picayune.
A Corpus Christi man is suing the Texas Windstorm Insurance Association for hundreds of millions of dollars because he says it improperly passed on costs to policyholders like him after Hurricane Ike in 2008, Associated Press reports via Insurance Journal.
A proposal in the Louisiana Legislature to reduce the maximum deductible on named storms and require winds in excess of 125 miles per hour before the deductible could be applied would likely result in higher insurance costs for consumers if enacted, according to the National Association of Mutual Insurance Companies, Insurance Journal reports.
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