Capitol to Courthouse Headliners: Friday, May 22
May 22, 2009
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Policy holders would get relief, have more options
South Florida homeowners could get a break from soaring property insurance premiums under legislation introduced in Congress Thursday that would expand the federal government’s role in supporting state-backed catastrophe coverage.
Florida lawmaker Julio Robaina and two consumer groups are calling for Gov. Charlie Crist to veto property insurance measures passed by the Florida legislature this year.
Two domestic property insurers no longer writing in the state — one by choice, the other forced– are the only two Florida insurers negatively affected thus far by a rating agency’s review of small domestic insurers.
Scott H. Richardson, South Carolina Insurance Director, announced Thursday that Florida-based American Strategic Insurance Corporation (ASI) has entered the South Carolina marketplace and is offering homeowners’ insurance coverage for coastal property owners.
Senator asks FEMA to get involved
Prodded by Congress, the federal investigation into tainted Chinese drywall has shifted into overdrive. A sample of homes in Florida will be tested in June.
A leading forensic expert on building envelope water intrusion and toxic mold, Spiderman Mulholland, and his forensic division at U.S. Building Consultants, Inc. has determined that air sampling is not an effective method for determining the presence of toxic Chinese drywall corrosions.
Owners walking away from boats they can no longer afford to maintain
A sinking economy, along with past hurricanes, has left a waterlogged legacy in Florida waters: slowly decaying wrecks of once proud boats abandoned by their owners.
Hiscox, an international specialist insurer, opened an office in Miami in an effort to further expand its U.S. operations.
Deluge spurs many to flee as houses fill with water
Donna Fowler didn’t want to leave her home of 33 years, even as water crept onto the back deck Thursday, when torrential rains that battered Florida’s northeast coast this week left scores of east Volusia homeowners struggling with the worst floods they have ever seen.
The sponsor of health insurance legislation is firing back at Blue Cross Blue Shield and consumer groups that argue his bill will inflate health care costs.
Insurance companies and HMOs should be required to spend at least 85 percent of their revenue on health care, according to Florida Public Interest Group. Most in Florida don’t.
Attorney General Bill McCollum Thursday announced a guilty verdict against a former Miami pharmacist for stealing over $1.3 million in prescription drugs from the Florida Medicaid program.
Florida Agriculture Commissioner Charles Bronson announced Thursday that he’s not running for governor “at this time,” but left the door slightly ajar in the event of unforseen circumstances before next year’s election.
So Charlie Crist is tired of being governor and now yearns to be Florida’s junior U.S. senator.
Lately, the buzz has been all about the Crist-Rubio rivalry to replace Sen. Mel Martinez.
There is a significant controversy surrounding SB 360, a major overhaul of Florida’s growth management laws that passed in the recent legislative session. Let me explain how we revised the legislation.
The U.S. Senate banking committee approved the nomination of Frank Sanchez of Tampa as President Obama’s under-secretary of international trade.
It was billed as a workshop to answer questions about the Obama administration’s plans to build a high-speed rail network across the country.
In the nation’s largest bank failure so far this year, federal regulators have closed battered BankUnited of Coral Gables and appointed new owners led by longtime banking executive John Kanas and Palm Beach billionaire Wilbur Ross.
The state-based insurance regulatory system has been a constant in an otherwise erratic economic climate. That was the key message conveyed when Florida Insurance Commissioner Kevin McCarty visited members of Congress to highlight the part of the regulatory system that has consistently worked.
At the urging of the two main insurance agents’ groups, legislation was introduced in the House Thursday to create a system to provide insurance agents with a nationally valid license.
The National Association of Mutual Insurance Companies (NAMIC) today congratulated Reps. Dennis Moore, D-Kan., and Scott Garrett, R-N.J., for introducing legislation to modernize the regulation of non-admitted insurance and reinsurance markets.
Officials of two life industry trade groups criticized a New York Times editorial that said Congress should reject legislation creating an optional federal charter for insurance, calling the OFC approach a recipe for “regulator shopping.”
Galveston, other areas face mounting bills
President Barack Obama’s homeland security chief is weighing whether to use arbitration to fix lingering federal-state disputes over millions of dollars in reimbursement for catastrophic damage along Texas Gulf Coast from Hurricane Ike.
The legal fight over Jefferson Parish’s red light cameras has moved to state court in Gretna after a federal judge in New Orleans dismissed a lawsuit filed by the same plaintiffs.
Most property-casualty and life insurers find growing and keeping business their biggest challenge and are reacting to the recession by increasing cash allocation and strengthening risk management, a survey finds.
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