Capitol to Courthouse Headliners: Thursday, Dec. 6

Dec 6, 2007

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State reopens investment pool to governments; withdrawals ‘heavy’

Local governments made ‘heavy’ withdrawals from Florida’s state-run investment pool when it reopened Thursday, a week after it was frozen amid a run in which nearly $10 billion was withdrawn on troubled mortgage fears.

 

Citizens’ fund risk significant

A big topic of conversation at today’s Citizens Property Insurance Corp. board meeting in Gainesville will be risk.

 

Terrorism insurance backstop vote planned 

Less than three months after passing a lengthy extension to the federal backstop to terrorism risk, House Democrats plan to hold a vote this week on a substantially altered version of the legislation, after balking at accepting the Senate’s version of the bill. 

 

House To Push Its TRIEA Wording On Senate

WASHINGTON —House Democrats are moving on legislative action today designed to signal the Senate that some House provisions must be included in a final bill extending the federal backstop for terrorism risk insurance. 

 

Martinez touts Fla. gov. as veep  

Florida GOP Sen. Mel Martinez, fresh off his stint as chairman of the Republican National Committee (RNC), is one of the most sought-after endorsements in Florida with its early primary and steady influx of GOP White House hopefuls.

 

Judge won’t force DNC to seat delegates

Not wanting to spark ‘a free-for-all’ of states leapfrogging each other in the presidential campaign, a federal judge Wednesday refused to make the Democratic National Committee seat Florida’s 210-member delegation to next summer’s nominating convention.

 

“Opportunistic” BlackRock thrives in credit turmoil

BOSTON  – The U.S. credit market turmoil is battering the financial sector but is proving to be a bonanza for money manager BlackRock Inc, which, with its deep fixed income roots, has assumed the role of clean-up king.

 

State’s investment loss of $2.5B falls below standards

The damage caused to Florida by the turmoil in the mortgage industry is growing.

 

Rep. hosts forum via teleconference

U.S. Rep. Cliff Stearns, R-Ocala, held a town hall forum Wednesday night with about 250 local residents – but this forum took on a new twist because the congressman conducted the question-and-answer session from Washington, D.C., via teleconference. 

 

Flood insurance definitely a moneymaker for our banks

Further to Debra Leibowitz’s feedback in Action Line Dec. 4: Purchasing flood insurance is a major moneymaker for the banks. For the last two years, my mortgage holder, Bank of America, has told me that it’s willing to buy it for me.

 

U.S. Reinsurers’ Premium Writing Declines

Net premiums written by 21 U.S. property-casualty reinsurers declined by 8.7 percent during the nine months ended Sept. 30, compared with the same period last year, a reinsurance trade group announced.

 

Web site tackles home insurance

Michael Letcher has created something he thinks almost any homeowner in Florida can use.

 

State pension fund’s risky debt at $1 billion

Florida’s pension fund owns more than $1 billion of the same downgraded and defaulted debt that sparked a run on a state investment fund for local governments and led officials to freeze withdrawals, according to documents obtained by Bloomberg News through an open records request.

 

Crist’s chief of staff is leaving

George LeMieux, the mild-mannered Broward lawyer who parlayed a role as head of the Broward Republican Party to become Gov. Charlie Crist’s right-hand man, announced Thursday he’s leaving for private life so he can ”go be a lawyer again.”

 

State Farms wants Katrina award voided

State Farm Fire and Casualty Co. asked a federal appeals court yesterday to throw out a $1 million punitive damage award to a Mississippi couple who sued the insurer for refusing to cover Hurricane Katrina damage to their home.

 

Kan. Insurance Commissioner Praeger Elected NAIC President

Members of the National Association of Insurance Commissioners (NAIC) elected 2008 officers during their meeting in Houston..