Capitol to Courthouse Florida Insurance Report – Tuesday, October 17, 2017

Oct 17, 2017

Hurricane Irma Insurance Claims In Florida Approach $5 Billion

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. reports.

Why Should Policyholders Use An Insurer’s Contractor — Or Face A $10,000 Cap?

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.

Florida Workers’ Comp Rate Hearing Scheduled For October 18

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.

Elizabeth Boyd Named State’s Deputy CFO

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. Publisher Peter Schorsch reports.

Universal Insurance Holdings Expands to New York with Launch of Universal Direct

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.

Brightline February Train Car Derailment Comes To Light; Critics Call It “Disturbing”

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

State of Emergency Declared for White Nationalist Speech

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

AG Pam Bondi:  Time to Shut Down Tampa Duo Preying on Troubled Homeowners

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.

Jason Fischer, Jeff Brandes Introduce Florida Self-Driving Cars Bill

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

Florida Supreme Court Sets Arguments In Red-Light Camera Battle

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

Could Refugees From Puerto Rico Possibly Tip Balance In 2018 Florida Elections?

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

Dish Network Takes Florida Tax Fight To U.S. Supreme Court

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.

New Florida Driver License, ID Card Expanding Statewide

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. reports.

Carriers, Reinsurers Under Review As A.M. Best Changes Credit Rating Methodology

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.

U.S. Homeowners’ Premiums Grow Despite Insurers’ Decreasing Return On Equity: Aon Benfield

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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