Capitol to Courthouse Florida Insurance Report: Wednesday, October 24

Oct 24, 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


9:00 a.m.–Florida Surplus Lines Service Office Board of Governors meeting.  To view the meeting notice, click here.  To view the agenda, click here.

10:00 a.m.–Florida Department of Revenue Proposed Rule Hearing; Proposed repeal of Rule 12B-8.002, entitled “Tax on Wet Marine and Transportation Insurance,” because it is redundant of Section 624.510, F.S.  Proposed amendments to Rule 12B-8.003, entitled “Tax Statement; Overpayments,” adopt, by reference, changes to forms used by the DOR in the administration of insurance premium taxes, fees and surcharges.  To view the hearing notice, click here.



    Daily Insurance-Related News


    Citizens Property Insurance CEO welcomes investigation by Florida Governor

    The president of the Citizens Property Insurance Corp. said Monday he supports an investigation into its business operations by Governor Rick Scott’s office.


    United Insurance plans stock sale, move to Nasdaq

    United Insurance Holdings Corp. plans to sell 6.75 million shares of its stock in a public offering.


    Insurance is central Florida House race topic

    The single-story building in downtown Bradenton serves a dual purpose for state Representative Jim Boyd, doubling as both his legislative office and the headquarters for his insurance agency.


    Blog:  State seeks changes in Medically Needy program

    After years of back-and-forth legislative debates about the Medically Needy program, the state is preparing to ask federal officials to approve putting the program’s tens of thousands of beneficiaries into managed-care plans, reports Jim Saunders of the News Service of Florida.


    NPR Blog:  Florida Officials Investigate Fake Voter Eligibility Letters

    It’s a sign that Election Day is getting closer: increasing reports of efforts to intimidate or mislead voters.


    Florida Downshifts on Vehicle Tag Replacement Plan

    The state has put the brakes on a plan to replace every license tag in Florida within two years.


    Florida Attorney General Pam Bondi:  Mortgage Settlement Money Isn’t for State Employee Pay Raises

    Attorney General Pam Bondi is adamant that a $334 million mortgage settlement sitting in escrow since February will go to distressed Florida homeowners, not to state employees for pay raises.


    Florida tumbles from top 10 states in attracting venture capital

    Florida’s share of the nation’s new venture capital plummeted during the third quarter, pushing the Sunshine State far down the leaderboard in the race to attract entrepreneurial investments, according a new survey.


    Florida ranks 48th in disposable income growth

    Florida ranks 48th among all states, with a growth rate of 6.87 percent, according to a new On Numbers report.


    Washington Post:  In Florida, Puerto Ricans’ rise gives a key swing state more swing voters

    There is nothing here that looks like a Little San Juan, no streetscape that replicates the sights and sounds of Puerto Rico, but you can get a taste of the island at Melao Bakery.


    The Florida Current’s Campaign Profile:  Attorneys battle for Florida Senate District 14 seat

    Two trial attorneys are vying for the Senate District 14 seat in Central Florida that snakes from eastern Orlando south through Kissimmee and into Haines City.


    Industry Officials Warn of “Armageddon” if Bank-Centric Rules Applied to Insurers

    Insurance industry officials fear “Armageddon” will be the result of a proposal by the Federal Reserve Board to use “bank-centric” standards in regulating insurance companies that operate thrifts.


    North Carolina insurance head defers homeowner’s rate issue

    Two weeks ahead of an election deciding whether he keeps his job, North Carolina’s insurance commissioner told companies on Tuesday they’ll have to prove they should be allowed to increase homeowner’s premiums by a statewide average of 17.7 percent.


    Insurance agency email raises alarm about Texas windstorm policies

    The head of the Texas Department of Insurance has raised concerns among legislators, private insurers and consumer advocates after an internal email surfaced this week indicating that she has been considering a plan that could raise property insurance rates on the Gulf Coast but also might have broader implications for the rest of the state.


    Argentina to force insurers to invest to boost economy

    Argentine President Cristina Fernandez said on Monday insurers would have to invest some of their funds in production and infrastructure projects as she seeks to boost sluggish economic growth.


    Many European Insurers Moving Slowly on Solvency II Readiness

    Almost half of European insurers will not be ready for Solvency II by January 2014, reports Ernst & Young, but given an extra year, 90 percent say they will be ready by Jan. 1, 2015, the date proposed by the European Union. 



    Click here to follow Colodny Fass& Webb on Twitter (@CFTLAWcom)



    To unsubscribe from this newsletter, please send an email to Brooke Ellis at