Capitol to Courthouse Florida Insurance Report: Wednesday, June 1
Jun 1, 2011
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There are no insurance-related events scheduled today.
Although Florida’s property insurance bill SB 408 became law May 17 upon the signature of Governor Rick Scott, not all the provisions within that bill became effective that day.
Jupiter-based Weiss Ratings gave 29 Florida property and casualty insurers low financial strength ratings based on their year-end condition.
The Herald-Tribune Media Group presents “Insurance: Surging Premiums, Shrinking Choices, The Florida Insurance Industry Nightmare,” as part of its Hot Topics series, June 1, 2011.
A.M. Best Co. has downgraded the financial strength rating to E (Under Regulatory Supervision) from B- (Fair) and issuer credit ratings to “rs” from “bb-” of National Insurance Company.
Nearly three-quarters of Floridians say property insurance is getting more expensive, and more than 60 percent say coverage is harder to get, according to a Quinnipiac University poll.
In 2004, Daytona Beach humorist Mark Lane said this about the June 1 start of the hurricane season:
Hurricane season begins today with Florida still financially unprepared to cope with a big hit on a populated area.
Higher Insurance rates are almost a given with a powerful hurricane.
Florida’s annual, high-stakes game of hurricane lotto – will we be hit by a major storm this year or not? – kicks off with the start of hurricane season today.
Tornadoes across the South. Floods along the Mississippi.
If any year could show the national need for national disaster Insurance, this is it.
A federal appeals court has ruled that Florida’s cap on pain-and-suffering damages in medical malpractice cases does not violate the U.S. Constitution – but wants the Florida Supreme Court to look at other “unsettled” legal questions, reports the News Service of Florida.
Governor Rick Scott made a proposed cut in the corporate income tax a key centerpiece of his budget proposals for his first year in office.
The U.S. Department of Justice on Tuesday signed off on the two Fair Districts measures that impose new standards for redistricting.
Governor Rick Scott signed into a law a controversial measure that will force all welfare recipients to pass a drug test before receiving benefits.
Florida’s new minimum wage is $7.31 an hour, up from $7.25, takes effect on Wednesday.
Governor Rick Scott campaigned against President Obama’s “failed stimulus” program – yet the freshman politician kept nearly $370 million of the federal cash in the Florida budget he signed last week.
Senator J.D. Alexander, the Senate budget chairman, was named the most effective legislator for the 2011 session.
Bob Richburg, a former co-defendant in the Ray Sansom trial, still owes the college that fired him a $103,333 settlement to have charges dropped against him.
Texas lawmakers were unable to come to terms on an overhaul of the state-backed insurer of last resort for wind and hail along the Texas coast, so they’ll be returning to Austin in July to try again.
Therese Goldsmith, an attorney who concentrated on white-collar litigation, is Maryland’s new insurance commissioner.
A United States senator from Mississippi wants to resolve wind-versus-water insurance disputes for structures wiped out by hurricanes.
Credit scoring using completely race-neutral factors is permitted under Texas law even if it has an unintended impact on minorities, the state’s Supreme Court ruled late last week.
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