LMA NEWSLETTER April 26, 2021

Wild Adventures

About 90 minutes from my Tallahassee home is Wild Adventures, an amusement park.  The name of this Valdosta, Georgia attraction reminds me of this last week’s legislative activities and you will see why as you scroll down in this edition to Bill Watch!  To put you in the frame of mind to enjoy today’s …

Bill Watch

Recap of Week 8 & Preview of Week 9 of Session

The Florida Legislature today begins the final week of its 60-day regular session.  Budget negotiations that extended into this past weekend report good progress reaching agreement on what is expected to be close to a $100 billion budget for the new fiscal year that …

Trying to Refute the Irrefutable

3 points on Florida’s insurance market woes

Efforts fell flat on their face this past week by those trying to refute the damning data from the National Association of Insurance Commissioners (NAIC) about Florida’s lawsuit factories.  It was that NAIC data that Florida Insurance Commissioner and NAIC President David Altmaier cited in his recent letter

Regulators Reject Citizens Rate Cap Request

Rate requests reduced, too

Citizens Property Insurance Corporation, Florida’s insurer of last resort, lost out last week on its attempt with regulators to apply actuarially-sound rates to its new customers, while allowing existing policyholders to continue enjoying a legislatively-set 10% rate hike cap.  The company also had its proposed rate increase on multi-peril homeowners insurance …

Revising Florida’s State Constitution

Recreational marijuana struck down

The Florida Supreme Court last week ruled that a proposed amendment to the state constitution that would legalize recreational use of marijuana contained misleading language in its 75-word ballot summary.  The initiative, which had already collected more than 556,000 signatures of the 891,589 needed to make the 2022 ballot, will now …

It’s Fair Time!

Haven’t we all been forgetting something this year?  Of course, in normal times we would have already had our annual trips to the fair without even the mention of a pandemic.  But things are just beginning to open back up and after being delayed two months, The Florida State Fair is back with all the …