Capitol to Courthouse Florida Insurance Report: Wednesday, November 14

Nov 14, 2012


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

1:30 p.m.-Federal Advisory Committee on Insurance meeting.  Discussion topics include flood insurance in the aftermath of Hurricane Sandy and an update on the Federal Insurance Office’s engagement with the International Association of Insurance Supervisors.  To access a live webcast, click here



Daily Insurance-Related News


Free-market, taxpayer, environmental groups hold press event on insurance reform

A broad coalition of free-market organizations, taxpayer watchdog groups, and environmentalists will be hosting a press conference and media availability event on Amelia Island, Florida on the morning of November 15, 2012.


Boca Raton beaches suffer significant loss from Hurricane Sandy 

Hurricane Sandy damaged the city’s lifeguard stations and other structures and caused “significant sand loss at most of the beach areas.”


Massive hole opens up in Windermere yard  

Geologists say the sinkhole that opened up in the front yard of a Windermere home on Tuesday has stabilized at about 50 feet wide and 6 feet deep.


The Florida Current’s Readers Poll:  Sandy a sign of the future

After Hurricane Sandy wreaked major damage to New York City and surrounding areas of the Northeast recently, the debate began about whether climate change played a role in the severity of the storm.


Great Hang Up:  Department of Transportation Secretary LaHood speaks at Florida Distracted Driving Summit

Thirty-eight states now have laws banning texting and driving.


Florida Starting to Accept Federal Health Care Law, to Miss Exchange Deadline

Florida’s Republican leadership has slowly, reluctantly accepted that the Affordable Care Act is now the law of the land, but they say there are still too many unanswered questions regarding its implementation and costs.


Florida health officials developing new Tuberculosis list

Florida Health officials said Friday that this week there were no new reports of a strain of tuberculosis linked to 13 deaths.


New speaker will push for Florida pension changes

Incoming House Speaker Will Weatherford said Tuesday that rapidly mounting public pension obligations are “a ticking time bomb” for Florida government, so he will ask the 2013 Legislature to make all new state employees join market-driven investment plans rather than the traditional monthly retirement systems.


Florida House speaker would limit group contributions but raise limit for individuals

In the wake of another big spending election, incoming House Speaker Will Weatherford said Tuesday he wants to limit the dollars that flow into murky political spending committees run by leading Florida lawmakers.


Blog:  Incoming Florida House Speaker Weatherford says he will set different tone in Tallahassee, but keep pushing conservative agenda

Incoming House Speaker Will Weatherford said Tuesday he wants to be known as an “inclusive reformer” for the next two years, one who works more with Democrats than his predecessor, Dean Cannon, but also continue to push a conservative agenda.


Florida officials to examine St. Lucie recount in West-Murphy race

Florida Secretary of State Ken Detzner is sending three representatives to St. Lucie County Wednesday to try to figure out how 799 votes disappeared in Sunday’s partial recount of the tight, nationally watched congressional race bemayotween Republican U.S. Rep. Allen West and Democrat Patrick Murphy.


Consensus emerging that election-law reform is needed

A week after Florida’s electoral system melted down, there is growing consensus that the state must reform its election laws to avoid similar problems in the future.


THE NEWS SERVICE OF FLORIDA:  Stand Your Ground Panel Working on Recommendations

A group tasked by Governor Rick Scott with reviewing the state’s “Stand Your Ground” self-defense law appears unlikely to recommend any major revamping of the statute, although it will make suggestions for additional study by lawmakers.


Former American Insurance Association Executive Named as New South Carolina Insurance Director

South Carolina Governor Nikki Haley today named Ray Farmer as director of the state’s insurance department. Farmer is a long-time executive with the American Insurance Association.


Industry Representatives Offer Varying Takes on States’ Hurricane Deductible Decision

While one industry representative blasted states’ decisions to bar insurers from invoking hurricane deductibles after superstorm Sandy as an act of “political expediency” that will result in higher rates, another says he believes the state officials “acted within the letter of the law.”


Growing Accord:  Modelers’ Sandy Estimates Could be Misjudging Insured Losses

Australia’s QBE Insurance Group has joined a number of carriers who believe Superstorm Sandy could cause more insured losses than catastrophe modelers have predicted.


Texas Commissioner:  Windstorm Will Be an Issue for Texas Lawmakers

Among the hundreds of bills filed by Texas lawmakers on the first day of filing for the 2013 legislative session are a handful of proposals related to property/casualty insurance.


Insurance Issues Reignite Colorado Legislators to Revisit Valued Policies After Wildfire Losses

Heavy losses from recent wildfires are reviving a debate on “valued” insurance policies, an issue the Colorado legislature took up 113 years ago and will look at again next year.


Workers’ Compensation Shows 10 Percent Increase in Net Premiums Written

The U.S. workers’ compensation line of business, which has faced significant challenges in recent years, received a respite in 2011 as employment and payrolls stabilized and overall net premiums written increased by 10 percent, according to an A.M. Best Co. special report.


Congressional Budget Office Says Widely-Supported Medicare Secondary Payment Bill Will Save Money

The Congressional Budget Office has projected that passage of legislation that would streamline enforcement of the Medicare Secondary Payment program would save the government money.


FINRA keeping busy with enforcing annuity sales misdeeds

Suitability sales issues continue to be an problem for an aging nation, and the NAIC has weighed in after a Government Accountability Office report warning on suitability questions involving insurance and investment product sales to veterans.



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