Capitol to Courthouse Florida Insurance Report–Wednesday, March 4, 2015
Mar 4, 2015
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.
9:00 a.m.–Florida Division of Workers’ Compensation Proposed Rule Hearing.
- Proposed amendments to Rule 69L-6.027 would revise a penalty calculation worksheet to provide the premium credit for the initial payment of premium made to secure coverage against an assessed penalty, as well as adjust the penalty lookback period and multiplier to conform to statutory changes.
- Proposed amendments to Rule 69L-6.028 would change the time frame to impute an employer’s payroll in the absence of business records from 20 to 28 days after receipt of the DFS request to produce records, and would change the factor to calculate employee payroll from 1.5 to 2 times the state average weekly wage, to conform to Section 440.107, Florida Statutes. Also, the time frame for an employer to provide additional records would be revised to 20 business days after the service of the first amended order of penalty assessment.
- Proposed amendments to Rule 69L-6.035 would also change the factor to calculate employee payroll from 1.5 to 2 times the state average weekly wage to conform to Section 440.107. Additionally the amendments would change citations in Rules 69L-6.028 and 69L-6.035 to reflect the current convention of naming to the specific subdivision cited.
1:00 p.m.–Florida Senate Committee on Banking and Insurance meeting. To view the agenda and meeting packet, click here. Agenda includes consideration of the following bills:
- SB 678 relating to Reciprocal Insurers
- SB 252 relating to Insurance Countersignature Requirements
- SB 830 relating to Regulation of Corporation Not for Profit Self-Insurance Funds
3:00 p.m.–Florida Citizens Property Insurance Information Systems Advisory Committee meeting. Teleconference: (866) 361-7525; conference ID: 4869641229#. To view the meeting materials, click here.
Until this week, Florida required its regulators to approve every penny of rate hikes health insurers requested. What happens next could affect what about 1.6 million Florida residents pay for health insurance. Charles Elmore reports for the Palm Beach Post.
The Workers’ Compensation Research Institute is holding its annual conference in Boston starting Thursday, March 5 and running through Friday noon, Andrew G. Simpson reports for Insurance Journal.
The Hilb Group, LLC has acquired West Coast Insurance of Tampa, Florida. The transaction became effective on March 1.
Governor Rick Scott opened the 2015 Legislative Session Tuesday by bragging about Florida’s economic gains in his first term, but also urged lawmakers to pass his agenda of tax cuts, freezing college tuition and increasing education spending, Gray Rohrer reports.
House Speaker Steve Crisafulli and Senate President Andy Gardiner entered the 2015 Legislative Session Tuesday with a set of shared priorities — dubbed “Work Plan 2015” — that includes cutting taxes, crafting a water policy and boosting education spending. THE NEWS SERVICE OF FLORIDA’s Jim Saunders reports via SunshineStateNews.com.
- Day 1 with Andy Gardiner: Medicaid, greyhounds, water and a “long way to go”
- Budget, Health Care Issues Cloud Legislature’s Opening Day
- Florida Retirement System overhaul emerges again as House priority
- Legislators say now is the time to improve state’s mental health and substance abuse services
Supporters of clean water and conservation rallied two weeks ago at the Capitol but the biggest water day of the 2015 Legislative Session may come Wednesday. Bruce Ritchie reports for SaintPetersBlog.com.
The Florida Legislature’s 2012 redrawing of congressional districts goes before the state Supreme Court today for arguments that could have a dramatic effect on the state’s upcoming political year. The Palm Beach Post’s John Kennedy reports for the “Post on Politics” blog.
Louisiana Insurance Commissioner Jim Donelon has picked up a challenger to his re-election efforts, the Associated Press reports via the News Star.
House Bill 1134 set up a “catastrophe savings account” to help pay the insurance deductible for a policy that covers a taxpayer’s legal residence for hurricane, flood, windstorm or other catastrophic event damage. James E. Gates reports for the Clarion-Ledger.
Oklahoma Insurance Commissioner John Doak on Tuesday issued a bulletin to insurance companies clarifying his department’s expectations for earthquake insurance coverage, Adam Wilmoth reports for The Oklahomian.
Lloyd’s of London insurers Amlin Plc and Hiscox Ltd. both said they have enough scale to stay independent and see no need to find a buyer amid a flurry of deals in the industry. Sarah Jones reports for Bloomberg Business.
Transamerica, headquartered in Baltimore, Maryland, has appointed former Pennsylvania Insurance Commissioner Michael F. Consedine as senior vice president, deputy general counsel and executive director of government affairs, Insurance Journal reports.
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