Capitol to Courthouse Headliners: Tuesday, July 7
Jul 7, 2009
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Florida Insurance Commissioner Kevin McCarty said the 54 property insurers backed by nearly $5 billion in capital that have been admitted to the state since 2006 can’t be expected to absorb all of the policies left behind when State Farm exits.
Since Gov. Charlie Crist’s veto of House Bill 1171, there has been considerable media coverage and commentary on the bill, its veto, and the Florida property insurance market in general. Unfortunately, a substantial amount of the commentary has included incomplete or incorrect information.
A new requirement from Florida’s largest property insurer is like manna from heaven for the state’s roofing industry.
Maybe we should be grateful to Gov. Charlie Crist of Florida for showing us exactly what happens to an insurance market when a taxpayer-funded “public plan” (Florida’s Citizens Property Insurance Corp.) of insurance is introduced into the marketplace, (“Hurricane Charlie,” Review & Outlook, June 29).
For property insurers, the short-term losses from hurricane season are often outweighed by long-term gains. But this year’s season — calendar-wise this is the heart of it — could leave some players hobbled while others come out ahead.
More drought, more flooding. Hotter days, harder rain. Higher-intensity hurricanes.
A new Emergency Operations Center for Lee County wouldn’t constitute insurance. It would provide some assurance and confidence that the county’s nerve center could function after a major hurricane strike.
The builder of The Whitney condominium in downtown West Palm Beach has agreed to hire experts to test all 210 units in the building for tainted Chinese drywall after testing by an environmental consulting firm uncovered the presence of the defective material in about half of a sampling of units tested, according to an e-mail sent to Whitney residents on Monday.
Twelve bills have been filed in the House for the 2010 session, including the latest attempt to legalize adoption by gay couples, a measure that would eliminate the statute of limitations for civil wrongful death actions and a bill to add homeless people to the state hate crimes statute.
Five years ago, the Florida Council of 100, a group of influential business leaders who advise the governor, issued a report calling for a dramatic overhaul in Florida’s water policy.
Gov. Charlie Crist has received two key Republican endorsements from Miami in his run for the U.S. Senate.
It got little attention, but a recent legal decision could be a game-changer in Florida politics: The state’s top elections official, Secretary of State Kurt Browning, ended a legal fight over a state law that requires the public to know who is behind – and who is bankrolling – television and radio ads and direct-mail fliers that sharply attack or praise politicians.
Third-term state Rep. Dorothy Hukill wants to become a first-term congresswoman.
It’s been over a year since Gov. Charlie Crist made a splash with his announcement the state would pay U.S. Sugar $1.75 billion for 180,000 acres south of Lake Okeechobee.
First Deputy Superintendent Kermitt Brooks is overseeing the New York State Insurance Department following the departure of Eric Dinallo.
The Alabama Department of Insurance has begun using new insurance producer examinations, according to Commissioner Jim Ridling said
Agents and brokers licensed in Pennsylvania will have their producer licensing renewals shifted to their birth month, starting later this year.
The Louisiana Supreme Court recently reversed the decision of trial and appeals courts, which had ruled in favor of an insurer in a case involving an uninsured/underinsured motorist.
The Texas Legislature wrapped up a two-day special session on July 2, passing bills to keep open five state agencies but failing to address a measure favored by the governor that would have allowed the state to continue contracting with private companies for building and operating toll roads.
A report by the auditing arm of the South Carolina Legislature has concluded that the state insurance department overall does a good job regulating insurance companies and their rates but it could do a better job of documenting its decisions and procedures.
Guy Carpenter & Company, LLC received the “Non-Life Transaction of the Year” award at Trading Risk magazine’s annual awards, held in London.
Credit default swaps nearly brought down the world financial system last fall when it was discovered that AIG Financial Products had written hundreds of billions of dollars worth of credit protection without setting aside sufficient reserves.
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