LMA NEWSLETTER March 18, 2019

The Power of People

Five months after Hurricane Michael hit Florida’s Panhandle, we have stories this week on the nearly $1 billion in federal loans, grants, and other payments that have been spent on hurricane recovery.  The state Legislature in the meantime is considering a variety of other recovery spending totaling hundreds of millions of dollars more.  But what …

NCOIL Considers Model Flood Law

While Congress considers NFIP Reauthorization

The National Conference of Insurance Legislators (NCOIL) convened the first meeting of its Special Committee on Natural Disaster Recovery this past weekend in Nashville.  Item one on the agenda was to consider creating a model private flood insurance law, like Florida’s, to help states encourage their own vibrant private flood …

Feds Fund Nearly $1 Billion in Hurricane Michael Recovery

New wildfire threat posed by storm debris

In the five months since Hurricane Michael struck the Panhandle, Florida has received almost $1 billion in federal disaster assistance in the form of grants, loans, and federal flood insurance payments.  But in the meantime a new menace is brewing, with state fire officials warning that we’re facing …

Bill Watch

Week #2 of the Legislative Session

In honor of St. Patrick’s Day yesterday, we wish to share an Old Irish blessing with legislators as we enter the third week of the 9-week session:  “May the road rise up to meet you. May the wind be always at your back.”

Assignment of Benefits (AOB) reform bills …

Citizens Insurance Rate Hearing

Excessive litigation causing rate hikes

At Thursday’s Citizens Property Insurance Corporation public rate hearing, company President & CEO Barry Gilway told the audience it wasn’t the $2 billion in combined losses from Hurricanes Irma and Michael that are prompting a rate increase – it’s the man-made catastrophe known as Assignment of Benefits (AOB) abuse and …

Florida Fraud Roundup

Bad deeds foreign and domestic

Being the third most populous state in the country with an estimated 21.3 million residents, Florida has an upsized share of fraudulent activity.  This week’s fraud alert includes a South Florida company accused of a nationwide IT phone scam, the feds opening a task force to fight foreign corruption, and …

Florida Remains Popular for People & Business

Continued job growth outpaces nation

The season of Spring starts this Wednesday with a sunny outlook here in the Sunshine State as a variety of economic and business indicators point up.  Job growth, low unemployment, and two new surveys that show Florida remains a top place to want to live and work in the United …

Ugly Honest

While most historians do not rank Grover Cleveland highly among our Presidents, he is believed to have achieved some average results during his two terms that we believe noteworthy in today’s environment.  He was born on this day in 1837 and served as our 22nd and 24th President.

Most notable was his restoration …