Capitol to Courthouse Headliners: Thursday, August 27
Aug 27, 2009
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Two Florida commercial and personal lines insurers with 18,000 policyholders have been ordered into liquidation, it was announced.
So House Speaker Larry Cretul announced earlier this week he was taking Rep. Scott Plakon off the chamber’s insurance committee.
Insurers are eagerly eyeing the possibility that a new Seminole gaming compact could require a special session because it would give them the opportunity to again pass legislation to allow for property insurance rate increases without state regulatory approval.
A.M. Best Co. has downgraded the financial strength ratings (FSR) to D (Poor) from B (Fair) and issuer credit ratings (ICR) to “c” from “bb” of Tower Hill Preferred Insurance Co., Tower Hill Prime Insurance Co. and Omega Insurance Co. — companies known collectively as Tower Hill.
Florida’s insurance commissioner on Wednesday issued a final cease and desist order to three companies found to be engaged in the unauthorized sale of insurance products.
Professional discipline complaints against 49 Florida doctors have been dropped because the state didn’t meet the statute of limitations.
the arrests of four individuals in Miami who allegedly staged a motor vehicle accident and filed approximately $60,000 in fraudulent claims for false injuries.
Florida CFO Alex Sink today announced the arrest of a West Palm Beach lawyer who allegedly pocketed nearly $500,000 of his clients’ insurance claims settlements. The arrest is the result of an investigation by the CFO Sink’s Division of Insurance Fraud with assistance from the Florida Bar Association.
Florida CFO Alex Sink today commended the work of her department’s Office of Fiscal Integrity for their role in a joint investigation that led to the conviction of Thelma Manley, former community liaison for Front Porch Pensacola, on four counts of grand theft and one count of racketeering.
Rep. Seth McKeel, R-Lakeland, has been promoted to deputy majority leader in the Florida House by Speaker Larry Cretul, who made recent leadership changes in the lower chamber of the Florida Legislature.
A registered nurse who cares for indigent and uninsured patients was suddenly thrust this week into one of the top positions in the Florida House when it comes to health care spending.
Florida GOP chief threatens legal action against stealthy 527 group
Florida Republican Chairman Jim Greer is blasting a racially-tinged mailer in a special state Senate election that warns that Black Panthers and “armed thugs” might try to intimidate voters.
Water managers won crucial judicial approval Wednesday to borrow up to $650 million for the first phase of Gov. Charlie Crist’s land deal with U.S. Sugar.
The Florida Energy and Climate Commission has sided with the state’s major power companies in a dispute over setting their conservation and efficiency goals.
Three out-of-state residents who own second homes in Florida lost another round Wednesday in their challenge to property tax breaks that primary homeowners get under the state constitution.
Phone giants, utilities, tobacco companies and a sugar giant led the charge among industries that spent about $108.7 million on Florida lobbyists this spring.
It’s like sipping through a straw to put out a raging fire.
(Herald/Times) The Seminole Tribe of Florida is inching closer to completing a gambling deal with the state that would allow it to keep the slot machines and card games at its Hard Rock casinos in return for $150 million in annual payments to the state.
Like an unwieldy “cash for clunkers” car lumbering down the highway, Florida has been slow in spending federal stimulus money on roads and bridges.
N.C. Consumer Victory: Gov. Perdue Signs Law to Prepare State for Hurricanes
On August 26, North Carolina Gov. Bev Perdue signed into law House Bill 1305, legislation that will protect homeowners and business owners across the state by reforming the Beach Plan and strengthening the state’s property insurance market.
North Carolina Governor Bev Perdue has signed into law legislation to shore-up the state’s backup coastal insurer and reduce the liability of private insurers should a major catastrophe strike the state.
A.M. Best Co. has withdrawn its public data (pd) rating assignments and assigned a category NR-5 (Not Formally Followed) to the financial strength ratings (FSR) and an ‘nr’ to the issuer credit ratings (ICR) on U.S. health insurers including health maintenance organizations (HMO) and Blue Cross and Blue Shield (BCBS) plans since it is becoming more difficult to develop ratings based solely on public data.
Financial regulators requested input Wednesday on changes to accounting rules that could require many banks to increase their capital reserves.
The current state of the financial services industries and the role of the federal government in regulating these industries, including the insurance sector, continues to be a matter of debate in Congress.
To view the paper, click “Future of the Business Disciplines, Regulation and Oversight of the U.S. Insurance Marketplace.”
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