Capitol to Courthouse Headliners: Wednesday, August 12
Aug 12, 2009
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Florida insurer Homeowners Choice, Inc. reported that its net premiums nearly doubled to $19.6 million and its profit rose seven percent to $3 million in the second quarter, thanks in great part to its taking on policies from the state-backed Citizens Property Insurance.
When the big insurers exited the Florida market, a start-up saw an opportunity
Following the catastrophic 2004 and 2005 Florida hurricane seasons, established insurance carriers raised rates, reduced exposure, or started looking for an exit.
The bulk of new property insurance available to Floridians since 2007 has come from largely unregulated surplus lines.
Since Hurricane Charley sliced through the state five years ago this week, hundreds of thousands of Floridians have spent lots of money to fortify their homes.
The number of institutions on the Florida Office of Financial Regulation watch list is increasing.
A City Council facing staggering legal bills grilled Venice’s insurer for answers to why its policy did not cover hundreds of thousands of dollars in attorneys’ fees in an open government lawsuit.
New legislation could make it easier for homeowners with defective Chinese drywall to take the manufacturer to court.
Florida Insurance Commissioner Kevin McCarty today announced the Office of Insurance Regulation (Office) and the Hartford Financial Services Group (Hartford) have entered into a consent agreement whereby Hartford will issue refunds or credits totaling $48.2 million to Florida businesses for excess profits it earned on its workers’ compensation policies for accident years 2004, 2005 and 2006.
One Florida doctor charged $4,150 for an office visit that has a Medicare rate of $120. A Florida surgeon billed $14,400 for a common procedure that has a Medicare rate of $650. Tired of being cast as the villain on health costs, the insurance industry released a report showing how wild doctors’ charges can be. Here is a link to the report page that shows Florida charges.
Gov. Charlie Crist’s plans for a third high-profile climate summit have been indefinitely postponed as the Republican weighs the political cost of the event’s expensive price tag.
With a calm shrug or a smile, Gov. Charlie Crist and his supporters havent seemed too rattled about all the buzz, blogs and straw polls that show conservatives seem more fed up with him and more fond of his Republican rival in the U.S. Senate, former Florida House Speaker Marco Rubio.
Gov. Charlie Crist ultimately wants Mel Martinez’s U.S. Senate seat, but for now he has to appoint what amounts to a placeholder for the seat, thanks to Martinez’s announcement last week that he’ll step down early.
Just in case there any lingering speculation, Jeb Bush says he is not interested in a caretaker Senate seat.
Retired Verizon executive Irene Guy announced on her Facebook page that she plans to file today to run for the District 47 Florida House seat.
As the political saga involving ousted House Speaker Ray Sansom and a $6 million taxpayer-funded airport building goes on, a Panhandle college has steadfastly maintained that a private developer would not use the facility.
- Ken Pruitt testifies in Ray Sansom case Sen Dave Aronberg: State’s automatic pay raises for private contractors unfair
The taxpayers of Florida scored a major victory and at least $10 million when the Department of Transportation recently announced that it would stop giving automatic pay raises to its private contractors.
Florida colleges and universities are welcoming hundreds of thousands of students to campus this fall, and a large portion of those students include men and women who chose to serve in the U.S. Armed Forces following Sept. 11, 2001.
The Obama administration yesterday sent Congress legislation seeking to impose broad oversight on derivatives, the complex financial instruments blamed for hastening the global economic crisis.
Interest in natural catastrophe policy is stirring once again in Washington as hurricane season approaches its midpoint.
Reinsurance brokerage Guy Carpenter & Co. L.L.C. said Wednesday it has named Aidan Pope, the former chief executive officer of rival Aon Benfield’s Latin American and Caribbean operations, to lead its own expansion in the region.
The Federal Reserve Bank of Cleveland is proposing a three-tiered system for regulating systemically important financial institutions.
Gov. David Paterson has signed legislation to freeze medical malpractice insurance rates in New York for another year, but the state’s largest insurer said it leaves the company financially weaker while efforts to resolve malpractice issues are stalled.
The state Appeals Court has ruled that an insurance company must pay the government for its remaining losses from a $9.4 million theft from the Treasury in the late 1990s.
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