Capitol to Courthouse Headliners: Wednesday, October 28
Oct 28, 2009
To view a complete story, click on a headline below:
Sink To PCI Members: Come Insure Florida
Florida Chief Financial Officer Alex Sink urged insurers at an industry conference today to consider entering Florida’s huge home insurance market.
Public Rate Hearing Tomorrow For Olympus Insurance Company
A public rate hearing will be held to discuss Olympus Insurance Co.’s proposed rate increases for its homeowners’ multi-peril line of insurance.
Study raises new red flag on coastal development in Fla.
Despite growing concerns about rising sea levels, Atlantic states, led by Florida, continue to steer development toward the coast, a new study finds.
Broward School Board debates whether to reclaim hurricane cleanup money
The Broward School Board’s attorney said Tuesday the decision is still up in the air on whether to try to recoup $765,000 from a contractor accused of overbilling for classroom repairs after Hurricane Wilma.
Governor Crist Appoints Thomas W. Arnold as Secretary of Agency for Health Care Administration
Governor Charlie Crist today appointed Thomas W. Arnold of Tallahassee as Secretary of the Agency for Health Care Administration. He has served as the agency’s Chief of Staff since 2008.
Blue Cross to lay off nearly 150
Blue Cross and Blue Shield of Florida Inc. plans to shed nearly 150 employees, the company said Wednesday.
Winn-Dixie to Offer Blue Cross Health Cards to Customers in All of Its Florida Stores
Partnership With Blue Cross and Blue Shield of Florida Is Convenient, Affordable Option For Individuals And Families
Winn-Dixie Stores, Inc. today announced that it has partnered with Blue Cross and Blue Shield of Florida to offer its customers Health Cards in all 353 of its Florida Winn-Dixie and Save-Rite locations.
Rising unemployment forces Florida, 21 other states to borrow money from federal government
Rising unemployment has now forced 22 states, including Florida, to borrow money from the federal government to keep paying unemployment insurance benefits, and another 10 states are expected to follow suit soon.
Crist was unaware of Obama’s Florida itinerary
It was a bizarre Tuesday for Charlie Crist.
Fla. offshore drilling being debated on Live Webcast
They can submit questions by e-mail to a panel of proponents and opponents that will respond during a live Webcast at 7 p.m. Wednesday.
Executive Director leaves Fla. Justice Assn., others taking new titles, in wake of racial mailer
Following weeks of pressure, the Florida Justice Association announced Tuesday that Executive Director Scott Carruthers was leaving in the wake of a racially charged mailer sent out to thousands of voters in a legislative campaign.
Fla. Big Bend gets $20M for Smart Grid
Nearly $20 million of federal stimulus money has been awarded to Tallahassee, Quincy and Talquin Electric Cooperative to develop Smart Grid technologies — a broad range of technology that promotes energy-saving choices for consumers.
Pat Rooney Jr. launches bid for Fla. state House
Palm Beach Kennel Club President Pat Rooney Jr., the brother of Republican U.S. Rep. Tom Rooney of Tequesta, announced today he’s running for the northern Palm Beach County state House seat of term-limited Rep. Carl Domino, R-Jupiter.
House District 9 challenger Rick Minor says no campaign money from ‘big oil’
Trying to build on his strong third-quarter fundraising momentum, House District 9 challenger Rick Minor took a swipe this morning at the incumbent, suggesting she is a pawn of the oil industry.
Cabinet discusses whether online hotel bookers are skirting tax rules
The big-money battle between Florida counties and online hotel booking companies reached the apex of state government Tuesday, but there’s still no solution in sight.
Fla. state law: Both Alex SInk’s and Bill McCollum’s offices should police debt collectors
Attorney General Bill McCollum and Chief Financial Officer Alex Sink blame each other for the state’s lax oversight of abusive debt collectors, but state law indicates that both bear some responsibility for protecting the public.
Florida’s agriculture in spotlight at Farm Bureau meeting
Some 500 to 800 farmers and ranchers are expected here for the 68th Florida Farm Bureau Federation annual state meeting to focus on issues important to Florida agriculture.
Financial Regulation Bill Unveiled; National Insurance Office Put Off
The Obama administration made gains Tuesday in its push for U.S. financial reform, unveiling a landmark bill to tackle systemic risk in the economy and winning congressional committee approval for a measure to expose hedge funds to more government scrutiny.
U.S. House panel votes for new rating agency rules
A House committee today voted to set new rules for investment rating agencies, which lawmakers say misled investors by giving high marks to risky securities tied to subprime mortgages.
Sheffield to Tout Regulatory Role in Georgia Insurance Commissioner Race
Attorney Maria Sheffield has become the latest candidate to enter the Republican primary to be the next insurance commissioner in Georgia. She is one of several candidates hoping to succeed current Insurance Commissioner John Oxendine, who is running for governor.
Louisiana Parish Says Training Facility Will Lower Insurance Premiums
St. Landry Parish, La., is in line to receive $12.7 million in federal hurricane mitigation funds, and the single largest project it hopes to fund will be a multi-agency training center.
Washington Insurance Commissioner Wants Flood Insurance Law
With some businesses in south King County finding it extremely difficult to buy enough flood coverage, Washington’s top insurance regulator is calling for broader powers to intervene when a local insurance market collapses.
Scientists Find Cause of Oregon Earthquakes
Scientists say a group of previously unknown faults was behind an odd swarm of earthquakes last year off the Oregon Coast. But just what set them off remains unknown.
Industry Increasingly Recognizing the Value of Metric-Based Frameworks and Capital Models in Portfolio Evaluation
The movement toward more robust enterprise-wide risk management practices following the 2008 financial crisis has continued to gather pace among insurers and reinsurers through 2009, according to an updated study published today by Guy Carpenter & Company, LLC.
New health reimbursement database program unveiled in New York
Calling for “much-needed transparency, accountability and fairness,” in consumer reimbursement for out-of-network health care, New York’s attorney general revealed details of a new, nationwide database to bring about change.
Surplus lines continue to battle market forces
The surplus lines sector of the property-casualty insurance market showed a 67% decrease in profit last year when compared to 2007.
NCOIL pans federal insurance office proposal
The National Conference of Insurance Legislators has reasserted its strong opposition to a Congressional Federal Insurance Office proposal.
NAIC, NCOIL Score Provisions In Federal Insurance Office Bill
A proposal to allow the Treasury Department to enter into “international agreements” on solvency measures is drawing strong objections from state insurance regulators and lawmakers.
House Panel Advances Bill on Credit Rating Agency Liability
Credit rating agencies would be more tightly regulated and more exposed to lawsuits under legislation approved Wednesday by the U.S. House Financial Services Committee.
Financial Regulation Bill Unveiled; National Insurance Office Put Off
The Obama administration made gains Tuesday in its push for U.S. financial reform, unveiling a landmark bill to tackle systemic risk in the economy and winning congressional committee approval for a measure to expose hedge funds to more government scrutiny.
Four threats to industry outlined by PCI CEO
Sluggish economic growth; massive deficits and likely runaway inflation; the undermining of private insurance markets and the socialization of risk; and, a ‘divide-and-conquer’ mentality in Washington are among the most substantial threats facing the industry today, the president and CEO of PCI told delegates yesterday.
PCI CEO Discusses Unprecedented Risks
Delegates at this year’s PCI meeting have much to discuss. A deluge of legislation that could affect the industry is being discussed in Congress. David Sampson, president and CEO of PCI, says the risks facing the industry are unprecedented.
PCI Board Chair: Industry Remains Healthy and Competitive Despite Economic Crisis
John Blackburn, chief executive officer of COUNTRY Financial and chair of the Property Casualty Insurers Association of America’s (PCI) Board of Governors will address the PCI Annual Meeting tomorrow and highlight the strength and competitiveness of the industry as well as its commitment to delivering on its promise to policyholders during this challenging economic environment.
To unsubscribe from this newsletter, please send an e-mail to ccochran@cftlaw.com.