Capitol to Courthouse Florida Insurance Report: Wednesday, June 1
Jun 1, 2011
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
There are no insurance-related events scheduled today.
Several Provisions in Florida’s Senate Bill 408 Effective June 1
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.
Weiss gives low ratings to 29 Florida property insurers
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 Downgrades Ratings of National Insurance Company and National Group Insurance Company
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.
Poll: Florida Insurance More Expensive, Harder To Get
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.
Opinion: Get ready for a hurricane
In 2004, Daytona Beach humorist Mark Lane said this about the June 1 start of the hurricane season:
Editorial: “Unready for storms”
Hurricane season begins today with Florida still financially unprepared to cope with a big hit on a populated area.
Higher Insurance Rates During Hurricane Season
Higher Insurance rates are almost a given with a powerful hurricane.
Five reasons that Florida homeowners insurance is still getting more expensive
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.
Blog: National insurance for natural disasters?
Tornadoes across the South. Floods along the Mississippi.
Editorial: It’s not just about Florida
If any year could show the national need for national disaster Insurance, this is it.
Blog: Florida’s medical malpractice cap survives federal challenge
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 Scott quietly signs tax cut package into law
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.
Redistricting measures get green light from federal government
The U.S. Department of Justice on Tuesday signed off on the two Fair Districts measures that impose new standards for redistricting.
Governor Scott signs drug testing mandate into law
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 takes effect June 1
Florida’s new minimum wage is $7.31 an hour, up from $7.25, takes effect on Wednesday.
Governor Scott Includes Federal Money in Budget
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.
J.D. Alexander named most effective legislator second year in a row
Senator J.D. Alexander, the Senate budget chairman, was named the most effective legislator for the 2011 session.
Sansom co-defendant still caught up in fallout from trial
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.
Demise of Windstorm Agency Overhaul Prompts Special Session in Texas
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.
White-Collar Litigator Named Maryland Insurance Commissioner
Therese Goldsmith, an attorney who concentrated on white-collar litigation, is Maryland’s new insurance commissioner.
Bill Sets Wind versus Water Claim Formula
A United States senator from Mississippi wants to resolve wind-versus-water insurance disputes for structures wiped out by hurricanes.
Credit Scoring Survives In Texas
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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