Capitol to Courthouse Headliners: Tuesday, May 20

May 20, 2008

 

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Florida Insurance Commissioner Kevin McCarty to Testify Before U.S. House of Representatives Subcommittee

Florida Insurance Commissioner Kevin McCarty, on behalf of the National Association of Insurance Commissioners, will testify before the U.S. House of Representatives Financial Services Subcommittee on Oversight and Investigations about the effect of credit-based insurance scores on the availability and affordability of insurance.

Local, state, fed officials try to resolve storm issues, costs

Dozens of Central Florida, state and federal officials gathered here Monday at the request of U.S. Rep. John Mica to ensure open lines of communication to the federal government before the next disaster.

Big storm may spur insurance shortfall

The credit markets crunch could mean property insurers in Florida, and Citizens Property Insurance Corp. in particular, could have problems paying claims if a hurricane were to cause sizable damage, a major insurance rating agency said Monday.

EDITORIAL: Florida storm program’s a keeper

ISSUE: Storm program to hit projections.

If there’s a storm-related expenditure that should prove its worth next time a hurricane slams Florida, it might be the My Safe Florida Home Program grants.

Florida Homes Safe With State Inspection Program

The My Safe Florida Home program complaint rate, after serving hundreds of thousands of Floridians, is less than 1 percent.

My Safe Florida Home to stop accepting new grant applications May 31

After reaching its goal of 35,000 grant applications, the My Safe Florida Home program will stop accepting new online grant applications on May 31.

Scientists raise ‘cane to make homes safer

Jimmy Jesteadt perches atop his ‘hurricane hot rod,’ cranks up the throttle and sends thick black diesel smoke billowing from University of Florida’s east campus.

Florida may need to tap into reserve funds

Florida’s battered bank account is in danger of running out of money in the current budget year, a move that may force Gov. Charlie Crist to dip into state reserves in the next few weeks.

Fla. governor signs hospital bill

Opening a new hospital or expanding services at an existing one will be easier under a bill signed Monday by Gov. Charlie Crist.

Governor Crist Signs Legislation to Expand Services and Coverage for Autism

Governor Charlie Crist continued a weeklong series of health care bill signings today by signing Senate Bill 2654, which increases health insurance benefits for autism and developmental disability therapies and enhances consumer awareness of the benefits.

State Rep. Ray Sansom prepares for role as head of the House

On Nov. 18, state Rep. Ray Sansom will become the first legislator from Okaloosa County to be sworn in as speaker of Florida’s House of Representatives.

Ballot-on-demand printers expected to cost Palm Beach County $1.5 million

In addition to the $5.5 million purchase of optical scanners they approved last year to comply with Florida’s new paper-ballot law, Palm Beach County commissioners on Tuesday will be asked to OK another $1.5 million to lease equipment to print early and absentee ballots over the next four years.

Surge in storms could blow away insurers

Just in time for the start of the hurricane season, rating service A.M. Best said in a report Monday what most Floridians already know — that U.S. policyholders could be in big trouble if a major hurricane hits the country.

A.M. Best: Credit Woes May Cause Turbulence in Catastrophe Markets

The credit crunch in the U.S. financial markets that boiled over after the subprime mortgage meltdown may affect the ability of insurers and reinsurers that cover coastal areas to raise cash for claims if a major hurricane were to strike the United States this year, according to a special report released May 19 by A.M. Best.

Memo to State Insurance Regulators: Pack Your Bags!

It’s time for the group representing the states’ insurance regulatory experts to pack up its bags, computers and name badges –and move to Washington, D.C.

RMS Launches ‘ExposureSource’ to Increase Cat Model Accuracy

Risk Management Solutions has launched a new service to systematically assess and enhance the quality of exposure data within the insurance industry.

Insurers Accused Of Profiteering On Defense Base Comp Risks

Democratic members of a House oversight committee last week accused several insurers of “war profiteering” because the Defense Department allows defense contractors to secure their own workers’ compensation insurance on overseas contracts.

Taiwan Conference To Examine Global Insurance Needs

The International Insurance Society said “Meeting the Global Demand for Insurance” will be the theme of its 44th annual seminar in Taipei, Taiwan, which more than 500 insurance executives from 50 countries are expected to attend.

68 pct. of young drivers killed at night unbuckled

The National Highway Traffic Safety Administration said 68 percent of drivers and passengers between the ages of 16 and 20 who were killed in car crashes at night in 2006 were unbuckled.

More than two-thirds of young drivers and passengers killed in nighttime car crashes aren’t wearing seat belts – deadly proof of what can happen when young people don’t heed parents’ pleas and authorities’ threats to ‘click it.’

Louisiana House OKs car insurance boost

Louisiana should raise the minimum level of required automobile insurance, the House voted on Monday, an increase that would mean higher insurance costs for over 1 million motorists.

October Trial Date Set for La. Legislator in Insurance Fraud Case

A federal judge set an Oct. 6 trial date for a Louisiana legislator charged with helping launder money for a woman accused of illegally selling insurance.

Minnesota Governor Signs Flood Insurance Disclosure Bill

Minnesota Gov. Tim Pawlenty signed a bill on May 14th that requires insurance companies and agents to notify homeowners annually if their insurance policies do not include flood coverage.

California Insurance Association To Broadcast Consumer Podcasts

The Insurance Information Network of California is recording audio and video podcasts to help consumers navigate the world of managing their everyday risks.

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