Capitol to Courthouse Florida Insurance Report: Thursday, June 13
Jun 13, 2013
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
Florida Hurricane Catastrophe Fund Participating Insurers Workshop. Orlando, Florida. To view the complete agenda, click here.
Daily Florida Insurance-Related News
Naturally, people like to have choices and benefits from access to more and better insurance options, explains Florida’s Citizens Property Insurance President and CEO Barry Gilway in an editorial opinion he penned for the South Florida Sun-Sentinel.
HCI Group, Inc. Prevails in RSA Dispute
HCI reports today that it has prevailed in a dispute with one of the world’s largest reinsurance intermediaries.
Blog: Battle over national guard emergency deployment sequester continues
In a sharply-worded letter to U.S. Sen. Bill Nelson, the head of the Florida Division of Emergency Management calls into question his conclusion that the federal budget cuts to the Florida National Guard could be offset with the swipe of a pen by the governor, Mary Ellen Klas reports for The Miami Herald’s Naked Politics Blog.
Blog: Florida’s Property Insurance Outlook on the Upswing
Kevin McCarty, Florida’s insurance commissioner, says that Florida is making progress in reforming its backward property insurance system, explains Mike Clark in his Jacksonville Times-Union blog.
New Jersey Insurance underwriters have long taken a dim view of the Southeast, with its pounding hurricanes and expensive claims. Now the Northeast isn’t looking much better, analysts from TheStreet.com explain.
Washington Drag Races Seeking Insurance Carrier After Florida-Based Carrier Withdraws
No “thunder” will be heard in Forks this weekend unless it is provided by the weather, reports Arwyn Rice of the Peninsula Daily News.
Lloyd’s Files Federal Suit Against Florida Parasailing Company After Fatality
The Miami Herald’s Carli Teproff reports that the husband of a woman who plummeted 200 feet to her death when her parasail harness malfunctioned last summer is suing the parasail company. A federal lawsuit also has been filed against the company by its insurer, Lloyds of London.
Opinion: Business Loses Big in Florida’s Rejection of Medicaid Expansion
In a state where big business has long had its run of things, the legislature’s failure to expand Medicaid under the Affordable Care Act represents significant cost increases for corporations, writes Dennis Maley for The Bradenton Times.
Florida Governor Vetoes 3 Bills, Signs 4
Among others, Florida Governor Rick Scott vetoed a bill that would have required faster dismissal of criminal charges against mentally incompetent defendants accused of attempting to commit serious crimes Wednesday, saying it jeopardized public safety, The Florida Current’s Bill Cotterell reports.
Governor’s office downplays report Democrat could be lieutenant governor candidate
Gov. Rick Scott’s office Wednesday dismissed reports that his search for a new lieutenant governor centers on an Orlando school official who has been a dinner guest of the Republican governor but is a registered Democrat, Tampa Bay Times’ Steve Bousquet reports.
Rick Scott Heads to France on Trade Mission
Gov. Rick Scott leaves Friday for his eighth economic development trip overseas since taking office and is expected to visit the Paris Air Show, Gray Rohrer reports.
List of Republican Candidates Grows for Bay County House Seat
In 2014, Rep. Jimmy Patronis, R-Panama City, will be term-limited, leaving his steadily Republican-leaning district representing parts of Bay County open. So far, three Republican candidates have filed to run for the seat while no Democrats have entered the race, Kevin Derby reports for SunshineStateNews.com.
FIO Report Released but It May Not Be the Long-Awaited One
The first report of the Federal Insurance Office was released today, but this “Annual Report” is not the delayed modernization report mandated by the Dodd-Frank Act, and it makes no controversial observations as to how the industry should be regulated in the future, Insurance Journal’s Arthur Postal reports.
Congress to ask Federal Insurance Office Director McRaith to defend International Work
A House Financial Services Committee subcommittee, under pressure from domestic insurance interests, is expected to demand that Federal Insurance Office Director Michael McRaith pressure European regulators to bend policy more to the liking of U.S. insurers, Insurance Journal’s Elizabeth Festa and Arthur Postal report.
New York’s Warning on Captive Reinsurance Tries to Reach Financial Stability Oversight Council Radar
A New York regulator has reinforced skepticism that the Dodd-Frank Financial Stability Oversight Council can keep track of everything that might go wrong, asking the super-regulator to pay more attention to what it says is an apparent subterfuge being used by many insurance companies to make themselves appear to have stronger financials, MNI’s Washington Bureau reports.
- Insurers Inflating Books, New York Regulator Says
- New York faults 17 life insurers for shifting risks
- Lawsky Faults $48 Billion Insured in Regulatory “Race to Bottom”
- New York eyes probe of captives
- Blog: The Myopia of Insurance Regulation
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