Capitol to Courthouse Florida Insurance Report – Tuesday, October 17, 2017
Oct 17, 2017
Hurricane Irma related Insurance Claims in Florida have increased further in the last week, rising around 8.5% to almost $5 Billion, with almost 32% of Claims now Closed, according to the latest Data from the Florida Office of Insurance Regulation. Artemis.com reports.
Property Owners with damages in excess of $10,000 will be unable to vet and select the Contractor of their choice unless they are willing to pay the additional expenses. A Plaintiffs’ Lawyer tells the Miami Herald.
The Proposed Rate Decrease, Filed in August, includes a Statewide Average Rate Decrease of 9.3 percent and a reduction of the Fixed Expense Cost applicable to every Workers’ Compensation Policy in Florida from $200 to $160. Insurance Journal reports.
Chief Financial Officer Jimmy Patronis on Monday announced that the Department of Financial Services’ long-time Legislative Affairs Director, Elizabeth Boyd, has been promoted to Deputy Chief Financial Officer. FloridaPolitics.com Publisher Peter Schorsch reports.
Universal Insurance Holdings Inc. has announced that its wholly-owned subsidiary, Universal Property & Casualty Insurance Company (UPCIC), has written its first Homeowners Policy in New York. Insurance Journal reports.
A Brightline Train derailed in February and opponents of the planned, East-Coast, High-Speed Passenger Rail Service expressed frustration Monday that they only recently learned about the accident and criticized the Company for not mentioning it during Florida Legislature Testimony about Rail Safety. Scott Powers reports for FloridaPolitics.com.
Scott warned in an Executive Order Monday that a “Threat of a Potential Emergency is Imminent” in Alachua County. Spencer is slated to speak at the Campus this Thursday. The Associated Press reports via FloridaPolitics.com.
More than a year after it began Investigating the Pair, prompted by stories in the Tampa Bay Times and on a Jacksonville TV Station, the Office of Florida Attorney General Pam Bondi is trying to put the Chanceys permanently out of business. Susan Taylor Martin reports for the Tampa Bay Times.
Self-Driving Cars would be able to legally cruise Sunshine State Highways under a Bill Filed by Jacksonville House Republican Jason Fischer. Mitch Perry reports for FloridaPolitics.com.
The Florida Supreme Court will hear Arguments in February in a Battle about a Red-Light Camera Program in the City of Aventura that could have broader implications across the State. THE NEWS SERVICE OF FLORIDAreports via FloridaPolitics.com.
Florida Democrats are preparing to Capitalize on the arrival of Refugees from storm-battered Puerto Rico with a Voter Registration Effort that could yield the Party a significant – and unexpected – advantage in next year’s Statewide Elections. Troy Kinsey reports for BayNews9.com.
Pointing to “Protectionism,” a Major Satellite-Television Company is asking the U.S. Supreme Court to take up a Constitutional Challenge to a Florida Law that sets different Tax Rates for Cable and Satellite TV Services. THE NEWS SERVICE OF FLORIDA’s Jim Saunders reports via the Orlando Sentinel.
The Department of Highway Safety and Motor Vehicles (DHSMV) Monday said it was expanding its issuance of a New, more Secure Florida Driver License and ID Card. FloridaPolitics.com reports.
Insurance Rating Agency A.M. Best announced the Publication of the updated Best’s Credit Rating Methodology (BCRM) on Friday, and also announced the names of several Insurance and Reinsurance Groups that the Rating Agency has put under Review. Susanne Sclafane reports for Insurance Journal.
According to Aon Benfield’s Annual Homeowners’ ROE Outlook Report, Homeowners’ Premiums Increased from $89 Billion in 2015, to $91 Billion in 2016, and are expected to reach $93 Billion in 2017. Insurance Journal reports.
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