Capitol to Courthouse Florida Insurance Report: Wednesday, February 20

Feb 20, 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


    9:30 a.m.–Florida Office of Insurance Regulation Rule Development Workshop

    • Proposed amendments to Rule 69O-137.001 would adopt the 2012 National Association of Insurance Commissioners (“NAIC”) Annual Statement Instructions Manuals.  To view the workshop notice, click here.
    • Proposed amendments to Rule 69O-138.001 would adopt the 2013 NAIC Financial Condition Examiners Handbook.  The current Rule adopted the 2011 version.  To view the workshop notice, click here.

    1:00 p.m.-Florida Workers’ Compensation Joint Underwriting Association Reinsurance Committee meeting.  Jacksonville, Florida.  To view the meeting notice, click here.  To view the agenda, click here.



    Daily Florida Insurance-Related News


    Florida Insurance Guaranty Association payments bill breezes through House panel, with caveats

    Members of the House Insurance and Banking Subcommittee unanimously passed HB 211 Tuesday, which would allow the Florida Insurance Guaranty Association the option of giving property insurance companies at least 90 days to pay assessments to the fund.


    Editorial:  Don’t push burden of Citizens Property Insurance onto all Floridians

    As the 2013 legislative session approaches, Florida House and Senate committees continue to discuss what can be done to address the cost of homeowners’ insurance in Florida.


    Editorial:   Fixing Citizens Property travel policy won’t fix Florida’s property insurance crisis

    Are we happy that an executive at Florida’s state-run property insurer spent $236.17 for a six-hour hotel stay in Zurich, Switzerland, to freshen up for a meeting? No, but such overbilling isn’t close to the main problem at Citizens Property Insurance Corp.


    Senate President Don Gaetz wants explanations from insurers on PIP

    Key Florida lawmakers are running out of patience with the state’s fraud-plagued no-fault motor vehicle insurance system that has cost policyholders hundred millions of dollars


    Florida pays more for insurance than Texas, all but 9 nations

    Ah, Florida. The sun. The sand. The insurance bills bigger than whole countries pay, including India and Russia.


    Florida lawmakers apologizing to Canada for road rage

    The Canadian Automobile Association is warning their members to take special precautions when traveling internationally – to Florida.


    THE NEWS SERVICE OF FLORIDA:  Controversial Drug Bill Gets Boost in the House

    With lobbyists crowding the room, a House panel Tuesday approved a bill that is part of a broader pharmaceutical-industry fight about complex drugs used to treat patients with cancer and other diseases.


    Universal Orlando to drop health insurance for part-time workers

    Universal Orlando plans to stop offering medical insurance to part-time employees beginning next year, a move the resort says has been forced by the federal government’s health-care overhaul.


    Senior Advocates, Veterans & Concerned Floridians Urge the Legislature to Safeguard Seniors from Stranger-Oriented Life Insurance

    A coalition of senior advocates, veterans and other concerned Floridians will be joined by Representative Bryan Nelson on Wednesday, February 20, 2013 at noon on the fourth floor rotunda in the State Capitol for a press conference.


    Lobbying Ban Expansion Won’t Impact Current Legislature

    The proposed sweeping ethics changes that would expand the prohibition on legislators lobbying for the first two years out of office won’t take effect until after the 2014 election.


    Car dealer dispute bill moves through Senate panel speed bump

    A bill that would require car buyers to send a letter outlining their complaints to a dealer before taking legal action stumbled through the Senate Commerce and Tourism Committee on Tuesday.


    Ethanol bill clears committee by a single vote

    A bill that would repeal a state requirement that gasoline contain ethanol passed a House subcommittee on Tuesday by one vote.


    Lawmakers offer “smart justice” package

    Nonviolent prison inmates could spend the final three years of their sentences in specialized re-entry institutions that emphasize rehabilitation and education, under a “smart justice” package introduced Tuesday by two legislators.


    House committee bill addresses federal concerns about 2012 permit-streamlining bill

    A House committee voted Tuesday to introduce a committee bill that is intended to address Federal Emergency Management Agency concerns about legislation in 2012. 


    Florida Senate President Don Gaetz says education bill is “going to make history”

    Senate President Don Gaetz gathered about 30 business executives in his conference room Tuesday and urged them to get behind an education bill expected to be filed Wednesday morning.


    Blog:  Democrats Complaint Of Governor Rick Scott’s Budget — Too Much To Be True

    Several Senate Democrats complained Tuesday that Governor Rick Scott’s proposed $74 billion budget includes money the state may not have and said it was a feel-good, but unrealistic suggestion.


    The Florida Current’s 2013 Session Outlook:  Transportation

    More money for ports, better transit system links to aid trade and an emphasis on tolling for new and expanded roads:  If Gov. Rick Scott’s transportation agenda for 2013 sounds similar to last year, it’s because it is.


    Industry insiders see holes in tax loophole story

    Three of Bermuda’s newest hedge-fund backed reinsurers came under scrutiny yesterday after an international article published by Bloomberg called into question whether the companies’ billionaire backers are exploiting a loophole for US tax avoidance.

    • Read the Bloomberg article here.


    Louisiana’s Assumption Parish Sinkhole Gets Bigger

    The sinkhole in northern Assumption Parish, La., continues to grow.


    Judge Rules for Cincinnati Insurance in Pennsylvania Defective Drywall Case Against Devon

    A district-court judge in Pennsylvania has ruled that a series of Chinese drywall claims against Devon International amounts to a single occurrence according to state law, and therefore triggers only one insurance policy Devon had with Cincinnati Insurance Co.


    Idaho one-car collision verdict cleaned up

    On an icy morning in 2009 Richard W. Wright slid off a North Idaho road and knocked over a speed-limit sign. The retired Florida police officer and then-Kootenai County coffee shop owner went on to work.


    UK court rules 9/11 two separate events for reinsurance purposes

    The UK’s High Court of Justice has ruled that the terrorist attack on the World Trade Center on September 11, 2001, can be considered two events.


    Bernanke Letter Hints at “Bank-Centric” standards for Thrift-Owning Insurers

    The Federal Reserve appears to be reiterating that it will use “bank-centric” standards opposed by the insurance industry in regulating insurance companies that operate thrifts-although some industry trade groups are disputing that interpretation.


    XL Group expands in U.S.

    XL Group’s reinsurance operations are expanding their footprint in the US with the opening of offices in Philadelphia and Dallas, Texas.



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