Capitol to Courthouse Headliners: Tuesday, July 13
Jul 13, 2010
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Blog: Florida’s home insurance rate hikes–Questions and answers
We reported this weekend that homeowners have been hit with property insurance rate hikes this year despite four relatively quiet hurricane seasons and Gov. Charlie Crist’s veto of a bill that would have made it easier for insurers to raise rates.
As Floridians prepare for what is expected to be an active hurricane season in 2010, Florida Insurance Commissioner Kevin McCarty gives his views on the state’s catastrophe exposures, Gulf of Mexico oil slick and the role of insurance.
Letter to the Editor: Setting the Record Straight
The following is a letter to the editor submitted to the Tallahassee Democrat by the Florida Association of Insurance Agents in response to an editorial that appeared in the Democrat on July 7, 2010.
Challenging Florida Market Still Frustrates Surplus Brokers
It has been quiet on the oceanfront in Florida in terms of hurricanes and tropical storms the past few years. However, the low catastrophe frequency has led to an extremely soft and competitive insurance market for Florida excess and surplus companies, according to underwriters and those who specialize in the Florida E&S market.
Tampa sinkhole, concerns grow near condos
Bright orange mesh fencing surrounds a large sinkhole today in the back parking lot of the Bordeaux Village Condominiums. The cavern opened Sunday morning and swallowed a Toyota Camry.
Is Florida a bike haven or hazard?
Two studies have conflicting results on bike safety in Orlando
Florida is one of the most bike-friendly states in the country, a new study claims. But a different study from late last year maintains the state, and Orlando in particular, rank among the most dangerous places anywhere for pedestrians and, by extension, bikers.
Feinberg, Crist assure economic victims of oil spill that claims will be paid
The independent manager of $20-billion in claims from the Gulf Coast oil disaster reassured Panhandle business owners and officials Monday that their losses will be covered, but first they have to be proven.
Florida banks seek reprieve from new capital rules
On Monday, Florida Bankers Association President Alex Sanchez wrote to Federal Deposit Insurance Corp (FDIC) Chairman Sheila Bair and Federal Reserve Chairman Ben Bernanke requesting a reprieve, the Journal said.
Investors snap up Florida banking bargains
Private equity groups have become key players in the acquisitions
As bank failures in Florida continue to mount, new players are swooping in.
Rubio raises $4.5 million in second quarter to set state record
Marco Rubio has announced his Senate campaign raised $4.5 million in the second quarter of 2010, the most ever raised in a three-month period by a Florida political candidate.
Florida phosphate company warns permit lawsuit could mean mine closure, layoffs
Mosaic Co. said it may have to shut down a Florida phosphate mine within two months over an environmental lawsuit.
A Congressional subcommittee will hold a hearing Wednesday on whether Congress should tighten rules dealing with the tax deduction taken by insurers who cede premiums to overseas affiliates, including reinsurers.
Alabama Official Spurns Offer to Lead Louisiana Citizens, Remains in Job
The search continues for a new leader for the Louisiana Citizens Property Insurance Corp. after the top choice for the job decided to remain in his current post in the Alabama Department of Insurance.
The Wall Street Journal: Switzerland To Introduce Standards For Reinsurers’ Provisions
Switzerland plans to introduce standards regarding reinsurance companies’ provisions, financial industry regulator Finma said Tuesday.
New Hampshire Hikes Surplus Lines Taxes
Surplus lines taxes in New Hampshire have gone up 50 percent, as a law change earlier this year went into effect this month.
Property owners who hire independent contractors are not vicariously liable for on-the-job injuries to the contractor’s employees, the California Supreme Court has ruled.
A federal appeals court has sided with agents and others who want the U.S. Securities and Exchange Commission to classify indexed annuities as insurance products rather than as securities.
News Release: NAIC Releases 2009 Insurance Department Resources Report
The National Association of Insurance Commissioners today released the 23rd edition of its Insurance Department Resources Report to help state insurance departments assess their resources in comparison to other states.
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