Capitol to Courthouse Florida Insurance Report: Thursday, December 15

Dec 15, 2011


To go directly to the section of your choice, click on a hyperlink below.  Other hyperlinks to meeting information, bills and news are noted in bold type.




Daily Florida Insurance-Related Events


(CANCELED) 10:00 a.m.–Florida Surplus Lines Service Office National Clearinghouse Committee meeting.  To view the meeting notice, click here.



Daily Insurance-Related News


Citizens Property Insurance Corporation to start changes to reduce policy count

The state-backed insurance carrier will reduce or eliminate coverage for secondary structures like carports, reduce coverage of property inside a residence and limit coverage of homes in coastal areas to those valued at less than $1 million, among other steps.


Citizens Property Insurance Corporation board approves proposals for depopulating 

The board overseeing the state’s largest insurer of homes and businesses on Wednesday recommended several proposals aimed at reducing the size of Citizens Property Insurance Corporation.


Citizens Property Insurance Corporation Proposes $1.5 Billion, 7 Percent Cut to Storm Risk Exposure

Florida’s supposed “insurer of last resort” has moved to shave 7 percent of its risk, including $1 billion in coverage from properties that overlook the Atlantic Ocean and Gulf of Mexico, as a means to truly regain that moniker.

Citizens Property Insurance Corporation Board of Governors approves proposals for depopulating

The board overseeing the Citizens Property Insurance Corporation is moving ahead with a half dozen recommendations for the Legislature it believes will help depopulate the state-backed insurer.


Blog:  Florida Senators Mike Fasano and Garrett Richter bump heads over hearing with Citizens Property Insurance Corporation chief 

Senator Mike Fasano believes the head of Citizens Property Insurance should appear before the Senate’s Banking and Insurance Committee to answer questions about recently announced policy changes.


State senators lock horns over how to demand answers from Citizens Property Insurance Corporation

A St. Petersburg-area senator has publicly asked Senator Garrett Richter, R-Naples, to call the president of Citizens Property Insurance Corporation before the Banking and Insurance Committee to face questions from policyholders.


Editorial:  Property Insurance Crisis — Funding vs. Exposure

Florida’s property-insurance crisis can be summed up in two words:  Underfunded. Overexposed.


Tweaking of no-fault insurance ongoing 

As others wrangle over how to tweak the state’s no-fault auto insurance system, Representative Mike Horner has a different idea.


Zurich, Patriot National in Deal to Offer Workers’ Compensation Captive Program in Florida

A Florida workers’ compensation insurer has reached a deal with a California company to underwrite its workers’ compensation policies through its Florida agency-owned captive program.


Florida expected to finally get its Medicaid waiver

The federal government could approve Florida’s long sought-after waiver on Thursday, the same day that a temporary extension of the current waiver expires.


Blog:  U.S. Attorney General Eric Holder promises tough review of Florida voting law

From the New York Times’ coverage of a speech by Attorney General Eric Holder yesterday that focused on new state voting laws that have come under challenge by Democrats and voting advocacy groups.


Judge puts public funding of churches amendment off Florida ballot

A proposal that would repeal a ban on public funding of churches and other religious organizations is off the ballot, at least temporarily.


State agencies welcome greater accountability in exchange for spending control

Governor Rick Scott’s latest attempt to run government more like a business would grant three state agencies broad spending discretion in exchange for stricter accountability.


Report highlights decline in ranks of state workforce

Florida’s state workforce shrank by about 3.5 percent in the fiscal year that ended June 30, according the State Personnel System Annual Workforce Report for 2010-11, released by the Department of Management Services.


New nuclear reactor design nears federal OK

Federal regulators are leaning toward approving a nuclear reactor designed by Westinghouse Electric Company that could power the first nuclear plants built from scratch in a generation.


State Farm appeals Texas ruling that ordered insurer to pay $350 million for overcharges

Attorneys for State Farm Insurance asked a state appeals court Wednesday to cancel a lower court order that would require Texas’ largest insurer to refund nearly $350 million to its customers.


House Passes Controversial Payroll Tax Bill That Includes 5-Year National Flood Insurance Program Extension

The House last night passed a five-year National Flood Insurance Program extension as part of a larger, controversial bill extending some tax cuts while also seeking budget cuts.


Blog:  Associated Industries’ new Chief Executive Officer — Could it be ex-Representative Tom Feeney?

Associated Industries of Florida will hold an important board of directors meeting Thursday in Orlando, where the self-described “voice of Florida business” is expected to name a new chief executive officer.


Federal Deposit Insurance Company Rule Would Clarify Mutual Holding Companies as Insurers Under Dodd-Frank Act

The Federal Deposit Insurance Company has proposed a rule clarifying that a mutual insurance holding company qualifies as an “insurance company” under the Dodd-Frank act, and thus is not subject to the FDIC’s orderly liquidation authority.


A.M. Best Posts Webinar Transcript and Playback Examining New Flood Coverage Options

The video playback and transcript for the Best’s Review webinar titled, “Online Global Town Meeting:  Insurance Experts to Examine New Flood Coverage Options,” is now available to view online.




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