Capitol to Courthouse Florida Insurance Report – Tuesday, May 31, 2016
May 31, 2016
With the official opening of hurricane season at hand, company officials say Citizens has enough money in reserve to pay claims if even a catastrophic Category 5 storm hits a major metro area, FloridaPolitics.com’s Joe Henderson reports.
A coalition of consumer and physicians’ groups isn’t backing away from its request for an investigation into insurance mergers, Jenna Buzzacco-Foerster reports for FloridaPolitics.com.
Florida businesses could soon be paying almost 20 percent more for workers’ compensation coverage. In response to a recent decision from the Florida Supreme Court, the National Council on Compensation Insurance filed a 17.1 percent rate increase with the Florida Office of Insurance Regulation for all new, renewal and additional policies in effect on a “pro-rata” basis. Insurance Journal’s Amy O’Connor reports.
The National Federation of Independent Business/Florida is adding its voice to the business groups decrying a proposed 17 percent hike in the cost of workers’ compensation insurance to employers, FloridaPolitics.com’s Jim Rosica reports.
One of the largest investors in a property and casualty insurance firm in Tampa wants the company to consider selling itself. Margie Manning reports for the Tampa Bay Business Journal.
The State Board Of Administration Of Florida Retirement System decreased its stake in American Intl Group Inc by 6.6 percent based on its latest 2016Q1 regulatory filing with the SEC.
Six years ago, FBI agents in Jacksonville, Florida, wrote a memo to their bosses in Washington, DC, that could have unraveled the largest consumer fraud in American history. David Dayen reports for Vice.com.
A plethora of high-profile matters is scheduled for argument before the Florida Supreme Court next week, FloridaPolitics.com’s Jim Rosica reports.
Orange County candidates for sheriff, tax collector and the four other constitutional offices would be identified on this year’s ballot as Democrat, Republican or another party affiliation if a judge’s ruling holds.
Miami-Dade County — long the epicenter of Florida’s bloodiest political battles – is hosting three key state Senate races whose outcomes could help reshape the chamber. THE NEWS SERVICE OF FLORIDA’s Dara Kam reports via SayfieReview.com.
Donald Trump’s outsized presence on the political landscape will shake up Florida in a multitude of ways, including redefining the field of contenders for governor in 2018. That’s clear after a talk with Will Weatherford, the former House Speaker who left office in 2014. Steve Bousquet reports for the Miami Herald’s “Naked Politics” blog.
Florida’s building boom, which followed Governor Rick Scott’s rollback of growth management laws, is alarming many community activists and environmentalists. The Palm Beach Post’s John Kennedy reports for the “Post on Politics” blog.
Richard Newberry has been named the new chief executive officer of Louisiana’s Citizens Property Insurance, Insurance Journal reports.
The U.S. Federal Reserve will hold an open meeting next Friday on proposals, in the works for more than five years, for capital requirements and other rules for insurance companies, Reuters reports.
Trade representatives for the United States and the European Union, who met May 24 and 25 to negotiate a bilateral covered agreement on regulations for insurers and reinsurers, on Friday issued a joint statement indicating they have not reached a final agreement but that they will continue their efforts.
A citizen’s group and homeowners who have recently suffered repeat flood damage sued Houston, Texas, in federal court, alleging the city backed improvements at a commercial development they say were made without putting in adequate drainage.
South Carolina’s coastal property insurance market is strong, but the state’s significant catastrophe risk remains an ongoing threat and not one that should be taken lightly. That is the message South Carolina Insurance Director Raymond Farmer hopes to get across to residents as the 2016 storm season gets underway. Amy O’Connor reports for Insurance Journal.
Xceedance, a global provider of insurance and consulting services across all lines of property and casualty insurance, is pleased to announce George Freimarck has joined the company as vice president for marketing and business development.
Martin Senn, the Zurich Insurance Group chief executive officer who stepped down in a December reshuffle, has died, the company said on Monday. He was 59. Business Day Live reports.
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