Over the past week there have been headlines in the insurance trade press where one company had to increase their Hurricane Irma reserves by $200 million, and a leading reinsurer expressing frustration that the dreaded Hurricane Irma “loss creep” (a funny sounding term meaning that losses continue to increase or “creep up” when they should …
LMA NEWSLETTER February 10, 2020
Bill Watch
Recap of Week 4 & Preview of Week 5 of Session
We are heading into Week 5 of the 9 week Florida Legislative session – nearly the halfway point. Subcommittee meetings are winding down, leaving the unfinished business to the larger parent committees. The fate of bills that haven’t yet gotten their first committee hearing …
Litigation Funding of Federal Cases
Is it legal? Is it right?
While the Florida Legislature considers regulating litigation finance companies, the U.S. Justice Department is likewise taking a look at the role those financiers may be playing in federal whistleblower cases. It could lead to whistleblowers having to disclose any relationship they have with litigation funders when they pursue cases …
Unlicensed Contractors Busted
“Widespread” Florida problem
Authorities in the Tampa Bay area have finished another big police sting, arresting 118 unlicensed contractors who offered to perform $540,000 worth of home repairs. Some of them were second offenders – making it a felony – while others had past criminal records and were arrested as well for parole and drug …
FEMA Premiers South Florida Flood Maps
Public inspection has begun
The FEMA road show has begun in South Florida. The agency is holding open houses from West Palm Beach south through the Florida Keys to reveal proposed new Flood Insurance Rate Maps to replace the existing ones – some of which were based on data that FEMA says is now 40 …
Miami Beach Flooding
To raise or not to raise the roadways
Nowhere in Florida is flooding from heavy rain events and King Tides more evident than in beautiful (and almost always sunny) Miami Beach. The city of 92,000 residents and 8.6 million annual visitors has had to get creative in recent years to develop stronger stormwater management and …
Florida Ballot Initiatives Set for November
Minimum wage increase, but no pot
There are two proposed state constitutional amendments that will be on the general ballot this November 3 with two others still pending approval by the state Supreme Court. While some of the more interesting measures, such as legalizing the recreational use of marijuana, failed to collect enough citizen signatures …
Smokey or Oaky?
For our wine lover readers, so many adjectives are used to describe fine wine. We hear terms like sweet, dry, and toasty. And sometimes we hear the “charm smokey” flavor. But when is smokey flavor too much? Recent wildfires in California Wine Country, particularly those that devastated parts of Napa and Sonoma counties in October …