Capitol to Courthouse Florida Insurance Report: Tuesday, August 9

Aug 9, 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


10:00 a.m.–Florida Surplus Lines Service Office National Clearinghouse Committee meeting. Agenda includes issues pertaining to the proposed national surplus lines tax clearinghouse.  To view the meeting notice, click here.



Daily Insurance-Related News


Florida Officials Weigh Next Step in Citizens’ Rate Hikes

While state officials are trying to digest Citizens Property Insurance Corporation’s proposed triple-digit sinkhole rate increase, other elected officials are taking their case to the public.


Former Democratic candidate for Governor Bill McBride joining advisory board of company led by Citizens chairman

Former Democratic candidate for governor Bill McBride is joining the advisory board of the Naples business consulting firm Qorval led by James R. Malone, chairman of Citizens Property Insurance Corporation.


Blog:  The ongoing story of Citizens, sinkholes and rate increases

On March 1, 2006 State Senator Mike Fasano called to order the first ever public hearing in Pasco County that brought officials from Citizens Property Insurance Corporation and their policyholders from the Tampa Bay area together.


Hurricane Camera could ease post storm mitigation

Darrell Jones is an expert on insurance and risk management, and he’s all too familiar with the frustrations of post storm mitigation.


National African-American Insurance Association to Hold National Conference in Miami

The National African-American Insurance Association will host its 13th annual national conference September 28-30 at the Fairmount Turnberry Resort in Miami.


Florida’s UPCIC and Parent Company Universal Insurance Holdings Announce 2Q Results

Universal Insurance Holdings, Inc. of Ft. Lauderdale reported net income of $7.5 million, or $0.19 per diluted share, in the second quarter of 2011, compared to net income of $10.8 million, or $0.27 per diluted share, for the same period in 2010.


Credit ratings of Florida, local governments not likely to be downgraded, officials say

Two days after Standard and Poor’s downgraded the United States credit to AA+, Republican Governor Rick Scott said he doesn’t think the downgrade will have an effect on Florida’s credit rating.


Governor Rick Scott:  I’ll Make Court Funding a Priority                              

Money to pay for an adequate court system will be a priority for the Scott administration, Governor Rick Scott told prosecuting attorneys Monday, but he also challenged the court system to be efficient.


Oil-impacted Florida counties looking at $10 million in development funds

The Florida counties impacted directly by the BP oil spill will be in line for $10 million a year for the next three years in extra economic development funds, but that could just be the beginning.


Florida Natural Gas Deal Could Defuse Antitrust Concerns

Antitrust concerns may have moved to the back burner with news that Energy Transfer Equity is moving closer to a purchase of the natural-gas pipeline company serving Florida.


Plans for new state agency begin to take shape

The new state Department of Economic Opportunity will be headquartered in the Caldwell Building one block south of the Capitol, said Doug Darling, an aide to Governor Rick Scott who will become the department’s executive director.


Blog:  Florida Department of Transportation wants to build lots of roads – and toll them

With bids for new road building projects coming in at “historically low levels,” Florida Transportation Secretary Ananth Prasad said Monday that now is the time for the state to ramp up construction, laying out a vision for a major upgrade in the state’s highway infrastructure.


Court Upholds Ban On Foreign Citizens Donating To Candidates

A three-judge panel this afternoon in Washington upheld the constitutionality of the ban against foreign citizens donating money to candidates in state and federal elections.


Blog:  Florida Representative Randolph seeks opinion on gift-ban exemption                                

Representative Scott Randolph, an Orlando Democrat, wants a formal opinion on two issues related to the 2006 law that prohibits legislators from accepting gifts of any kind from lobbyists or their clients.


Blog:  The Florida Insider poll — Charlie Crist running for governor?

Crazy as it may sound, many of the savviest political minds in Florida think Charlie Crist will run for governor in 2014.


Insurance Captives’ Profitability Soars

Profitability soared by 49 percent and policyholder dividends were up 73 percent for captive insurance in 2010, reports A.M. Best.


Why Wall Street Likes Reinsurance Business

Warren Buffett’s entry into the bidding for Transatlantic Holdings is drawing fresh attention to the reinsurance industry, which specializes in writing insurance for insurers in a way that frees up those companies to take on more risk.


Abandoned Boats Become Unofficial Economic Indicator

Abandoned vessels may have become an unofficial indicator of the tough economy. 



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