Capital to Courthouse Florida Insurance Report, Wednesday, July 12, 2017
Date Published: 07-12-2017
Conversely, Private Insurance would cost at least Double the NFIP Premium for 14% of Single-Family Homes in Florida, 21% in Louisiana, and 5% in Texas.
A Federal Assessment released at the end of June showed rains eliminated a dry spell that began in April 2016, the last time Alabama was totally Drought-Free. Insurance Journal’s Amy O’Connor reports.
Florida experienced its hottest start to the year on Record, Averaging 70.4 degrees January through June. The Palm Beach Post’s Kimberly Miller reports for the “Weather Plus” blog.
For the first time, Hannover Re has transferred Storm and Severe Thunderstorm Risks to Capital Market Investors for the American Integrity Insurance Company of Florida. The amount of Capital raised from Institutional Investors is $210 Million; the Transaction matures in approximately three years. The Intelligent Insurer reports.
The Florida Attorney General's Office said Tuesday it had reached a Settlement Agreement with Avis Budget Car Rental System over Fees it was charging for Toll-Road Services. The Associated Press reports via the Tampa Tribune.
Drivers of 2006 Full-Size Ford Pick-Ups, better Lock Up. You are driving the Most-Stolen Vehicle in Florida. Again. The Palm Beach Post’s Charles Elmore reports via the “Protecting Your Pocket” blog.
Nearly a year after a State Regulatory Commission Approved Controversial New Water-Quality Standards, an Appeals Court Tuesday Ruled that a Pulp-and-Paper Industry Group should be able to challenge the measures. THE NEWS SERVICE OF FLORIDA’s Jim Saunders reports via the Miami Herald.
Nearly one in Five Florida Residents have Unclaimed Property or Money sitting in Accounts, said the State’s Chief Financial Officer Jimmy Patronis in a release Tuesday. Lindsey Kilbride reports for WJCT.
The Lawmakers, a mix of Senate and House Members, including several South Florida Congressional Members, are asking President Donald Trump to “Re-Engage with Iran and make clear that continued delay in returning Bob . . . is another obstacle Iran must overcome if it wants to improve relations with the United States.” Sergio Bustos reports for Politico Florida.
A Spokeswoman Wednesday said the City of Tallahassee and its Community Redevelopment Agency has turned over thousands of Pages’ Worth of Material regarding the FBI’s Investigation of the CRA’s Business Deals. FloridaPolitics.com’s Jim Rosica reports.
Sparking plenty of Friction in the Financial Industry and Congress, a Federal Agency announced this week a New Rule that Bans Companies like Banks and Credit Card Issuers from using Arbitration Clauses to keep Consumers from Banding Together to Sue Them. The Palm Beach Post’s Charles Elmore reports via the “Protecting Your Pocket” blog.
A ValuePenguin Report says Auto Insurance Rates in Georgia have Increased by 54% over the past Six Years, more than twice the US Average, although Rates essentially remain in line with the National Average. PCI has said Auto Collisions are rising sharply in States with Large Urban Populations, such as Georgia, and State Insurance Commissioner Ralph Hudgens has noted that State Law Limits when his Agency can Reject Rate Increases. The Atlanta Journal-Constitution reports via the PCI SmartBrief.
Agent and Insurer Groups on Tuesday diverged in their Testimony regarding a Massachusetts Bill that would set requirements for verifying a person's Driving History when using it as a Factor in providing a Quote. Frank O'Brien of PCI said that any gaps in time between Preliminary and Verified Quotes will diminish as the State Upgrades its Registry of Motor Vehicles Technology. The Telegram & Gazette reports via the PCI SmartBrief.
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