Capitol to Courthouse Florida Insurance Report: Thursday, May 23
May 23, 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
10:00 a.m.–Florida Workers’ Compensation Joint Underwriting Association Operations Committee teleconference meeting. Agenda includes discussion on policy administration and managed care service provider selection, NCCI Affiliation Agreement, 2012 Operations Report, disaster recovery matters and market conduct exam. To view the meeting notice, click here. To view the agenda, click here.
Daily Florida Insurance-Related News
Divided Citizens Property Insurance board approves retroactive incentive depopulation plan
By a narrow 3-2 vote, Citizens Property Insurance Corp. board members approved a plan Wednesday to give up to $52 million in surplus to nine month-old Heritage Property and Casualty Insurance Co. for taking over 60,000 of its policies, The Florida Current’s Gray Rohrer reports.
Oklahoma disaster unlikely to impact Florida property insurance market
Florida’s troubled property insurance market shouldn’t feel any ripple effects with higher rates because of the devastating Oklahoma tornado, Tampa Bay Times’ Jeff Harrington reports
Homeowners gripe at forum, say state officials not doing enough about insurance
Homeowners asked Florida’s insurance consumer advocate for help with problems involving state-run Citizens and other insurers at a Palm Beach County forum Wednesday that also featured criticism that state officials are not doing enough, Charles Elmore of the Palm Beach Post reports.
National hurricane researchers to hold open house
Want to see how scientists work to improve hurricane predictions? Or where researchers study how to protect marine life? The Sun-Sentinel’s Ken Kaye details this weekend’s NOAA event
Sun Life alleges fraud in lawsuit against Boca Raton-based Imperial holdings
South Florida Business Journal’s Brian Bandell reports that Sun Life Assurance Co. has filed a lawsuit against Boca Raton-based Imperial Holdings and its life insurance financing subsidiaries, accusing it of fraud and civil racketeering.
Blog: Senator Bill Nelson urges Scott to veto health insurance rate bill
Democratic U.S. Sen. Bill Nelson urged Florida Gov. Rick Scott to veto legislation his fellow Republicans advanced that suspends for two years the state’s authority to set health insurance rates, blogs John Kennedy for the Palm Beach Post.
Appeals court shields lawmakers from answering questions in redistricting lawsuit
A divided 1st District Court of Appeals on Wednesday struck down an earlier decision connected to a challenge to Florida’s new map for its 27 congressional districts, The Florida Current reports.
Florida Attorney General Pam Bondi and 22 other attorneys general accused Urban Outfitters on Wednesday of “undermining” nationwide efforts to fight pharmaceutical-drug abuse because the store sells a line of drinking novelties that mimic prescription-pill bottles, boxes, pads and syringes, blogs Marc Caputo for The Miami Herald.
Florida residential real estate sales surge, thanks to cash investors
Sales of existing single family homes and condos shot up last month according to a report released Wednesday by Florida Realtors, as Florida continues to climb its way back from the housing bust. Prices got a boost as well, but a backlog of 400,000 foreclosures in the court system is expected to temper a full housing sector recovery.
Blog: Governor Vetoes Legal Aid Funding For Third Year
For the third year in a row, Governor Rick Scott has vetoed funding for legal aid to low-income Floridians, reports Margie Menzel of THE NEWS SERVICE OF FLORIDA via SaintPetersBlog.com.
National Journal: Republicans Scramble to Save Rick Scott in Florida Battleground
Florida Governor is preparing for a highly contentious race against Charlie Crist
The 2014 Florida governor’s race is shaping up as one of the most consequential contests in the country, featuring two problematic candidates in a state President Obama won twice but where a Democrat hasn’t been elected as governor in nearly two decades, Elahe Izadi reports.
Womens’ group grades Florida a “C” in job security
Florida scores a middling grade in a new report card on job security in the United States
Wider Opportunities for Women, an advocacy group in Washington, gave Florida a C, crediting the Sunshine State for having more favorable policies at it relates to income (B) but trailing the nation on workplace benefits (D-), and being average when it comes to home affordability, consumer debt and occupational training (all Cs), The Miami Herald’s Douglas Hanks reports.
Offshore Insurer Tax Debate Renewed with U.S. House, Senate Bills
The fault lines between domestic and offshore insurers again opened due to bills in the House and Senate of legislation that would reduce the tax benefits foreign insurers receive by ceding U.S. property and casualty premiums to their foreign affiliates, Arthur Postal reports for National Underwriter’s PropertyCasualty360.com.
Louisiana Senator Files Flood Insurance Bill
Sen. Mary Landrieu filed legislation Tuesday to delay flood insurance increases for many residents and businesses in southern Louisiana and nationwide that coastal parish officials fear could begin skyrocketing at the end of the year, The Advocate’s Washington Bureau reports.
Analyzing the Oklahoma Tornado’s Structural Damage
The mile-wide EF5 tornado that struck Moore, Oklahoma was part of a succession of 22 tornadoes that spun across six states on Monday. This came just one day after a northeast-moving storm from Texas to Minnesota produced about 300 appearances of hail and high winds, Christina Bramlet writes in this PropertyCasualty360.com interview with a structural engineer.
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