Capitol to Courthouse Florida Insurance Report–Wednesday, July 30, 2014
Jul 30, 2014
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10:00 a.m to 12:00 pm.–U.S. Senate Committee on Banking, Housing and Urban Affairs – Subcommittee on Housing, Transportation and Community Development Hearing: The Flood Insurance Claims Process in Communities After Sandy-Lessons Learned and Potential Improvements. To view the Hearing notice, click here.
As the dust begins to settle on the Florida-dominated 1 June renewal, reinsurers are licking their wounds and resting battle-weary bodies and minds after a bloodbath in which rates fell, typically cut by 15-25 percent, the Insider Quarterly reports via the Insurance Insider.
Florida domestic insurers have performed extremely well over the last few years due to both fundamental factors and valuation expansions. However, RH Analytics explains on SeekingAlpha.com that it believes upside is likely limited and investor caution is warranted.
State insurance officials are preparing to release figures next week on how much health plans will cost under the Affordable Care Act for 2015, and rate increases seem inevitable as insurers say their new consumers are older and sicker than anticipated, Associated Press’ Kelli Kennedy reports via SaintPetersBlog.com.
Citizens Property Insurance Corporation has has made settlement offers to 600 policyholders to resolve lawsuits over sinkhole damage, a spokesman said Tuesday. James Rosica reports on the development for the “Political Fix Florida” blog.
Former Governor Charlie Crist vowed that if he is elected, he will his executive powers to target discrimination against gay and transgender employees and force state-hired contractors to pay employees at least $10.10 an hour, the Associated Press reports via SaintPetersBlog.com.
- Charlie Crist unveils Day 1 plan, Rick Scott asks “Where are the jobs?”
- Crist’s promise of “First Day of Fairness” draws an Obama-like smackdown from GOP
Governor Rick Scott’s campaign announced Tuesday that he has agreed to appear in three debates against the Democratic nominee, either former Governor Charlie Crist or Nan Rich. The debates are all within four weeks of the November 4 general election, the Miami Herald’s Tia Mitchell reports.
Responding to a Tallahassee court judge’s skepticism that he could craft a new congressional map in time for the November elections, a voters group is now asking the court to appoint a redistricting expert to do it, the Miami Herald’s Mary Ellen Klas reports on “The Buzz” blog.
A federal appeals court Tuesday upheld a Miami judge’s sanctions against a law firm and its client,TD Bank, for failing to turn over evidence to investors who won a $67 million judgment in 2012 against the former bank of convicted Ponzi schemer Scott Rothstein, the Miami Herald’s Jay Weaver reports.
Florida is among 26 states which have loosened marijuana laws and triggering a surge of marijuana stocks investors have coined the “Dot Bong Era,” according to an Office of Financial Regulation briefing recently provided to legislative staff. The report explores problems the banking industry is facing when federal and state laws are at odds, James Call reports for SaintPetersBlog.com.
State Representative Reggie Fullwood went to court yesterday to fight elections officials’ decision to reject his paperwork for this year’s election because a notary hadn’t checked a box attesting to how she knew he had signed the form, Steve Patterson reports for the Florida Times-Union.
President’s council of economic advisers sounds warning over delaying EPA power plant rules in face of industry lobbying, TIME Magazine’s Suzanne Goldenberg reports.
The effects of the National Flood Insurance Program’s building requirements for elevating or flood-proofing agricultural structures in high-risk areas varied across selected communities, according to interviews the GAO conducted with floodplain managers and farmers.
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