Florida lawmakers have taken the first step towards reforming the state-backed property insurer, but not before significantly scaling back its impact on policyholders while the chances for final legislative approval remain uncertain.
Senate lawmakers have been working for months on a comprehensive reform package with the goal of depopulating the 1.2 million-member Citizens Property Insurance Corp. by increasing rates and finding ways to incentivize homeowners to seek coverage in the private market.Initially, the bill (SB1770) would have changed Citizens rating methodology so that its rates would become actuarially sound so that it would no longer compete with the private market. Among other things, new policies no longer would have fallen under the so-called “glide path,” which restricts rate increases to 10 annually. Read more in the "Insurance Journal"

Florida’s high court is poised to decide how much money insurers owe some medical providers in cases where an auto policy does not specifically state that the fees will be based on a fee schedule approved by state lawmakers in 2008.

The Florida Supreme Court recently heard arguments in a case [Geico General Insurance Co. v Virtual Imaging Services, Inc. SC12-477] addressing the matter that is currently being litigated in hundreds of cases throughout the state.
At issue is a 2008 change to Florida’s no-fault personal injury protection automobile law that created a new reimbursement formula. Under the formula, most healthcare providers, with the exception of specialists such as surgeons, are paid based on a rate of 80 percent of 200 percent of the Medicare rate.
Read more in the "Insurance Journal"

Your Home
 Hurricane shutters are a critical part of preparing your home for hurricane season, but there is much more to consider. Before storm season you should inspect the roof for missing tiles or shingles, clean out gutters and rain spouts, and remove dead tree limbs from your yard.Updating your home inventory, reviewing your homeowners policy coverages with your insurance agent, developing your family's disaster plan, and building a hurricane kit should all be done before storm season.

Your Family Involving all the family members, especially kids, in planning for hurricane season can help make it less daunting. Its important to explain to the youngest family members what to expect in case of power outages and strong winds, without making them feel afraid. 

Home Hurricane Kit
The entire family can help with this a quick checklist to prepare your home for hurricane season: check trees for dead limbs, count windows/doors, make a list of outside items (toys, patio furniture) to secure before a storm, and more. In 30 minutes or less, your family team can complete this project.

Build an Emergency Kit
When you have a few hours to plan, shop and build your hurricane kit, start with this supply list then customize it for your family's needs. In a waterproof container, be sure to include copies of important documents and identification -- home, flood, car and health insurance policies, drivers licenses, passports -- and contact information for credit card companies, relatives, etc.

Prescription medication and a first aid kit should be included with your emergency supplies, such as non-perishable food, water, flashlights, batteries, and paper goods.

..And Your Pets!
Your pets need an emergency kit, too. When deciding on your family's disaster plan ahead of time, be sure to consider where your pets will be safe if you need to evacuate. Remember, most evacuation shelters do not accept pets. Your pet will need the following:

• Portable carrier
• Pet food and water
• Medications (prescriptions, flea and tick prevention, heartworm prevention, etc.)
• Current vaccination records
• Toys, treats, and clean up supplies
• Extra leash and collar with ID tag

In case you and your pet become separated, be sure to keep a recent picture of you and your pet along with health/vaccination records. FEMA's Ready.gov website includes a brochure and video with tips for preparing your pets for an emergency.

The attorney for three NASCAR fans injured last weekend during a race the day before the Daytona 500 says they are exploring a possible lawsuit, but some experts say they could face tough obstacles in winning damages.

Matt Morgan, the Orlando-based lawyer for the fans, said at a news conference that any suit would focus on the safety fence used along the track at Daytona International Speedway. He said he hopes to reach a settlement with NASCAR to avoid a lawsuit.   Read more in the "Insurance Journal"

Florida lawmakers are planning next week to release a draft version of a property insurance reform bill.
The Senate Banking and Insurance Committee has taken the lead on property insurance reform this year and so far has listened to more than five hours of testimony from regulators, state officials, business groups and consumer representatives.
The discussions have touched on ways to depopulate Citizens Property Insurance Corp. as well as restructuring the Florida Hurricane Catastrophe Fund, encouraging mitigation along with incentivizing private insurers to take on more risk.
Senate Banking and Insurance Committee Chair David Simmons (R-Altamont Springs), however, acknowledged upfront that it will be a challenge to put together a package of reforms that will find its way through the legislature to Gov. Rick Scott’s desk.        Read more in the "Insurance Journal"

Florida lawmakers are poised to consider restructuring the state-run property reinsurance facility by possibly lowering its mandatory annual capacity by billions due to concerns that one major storm could exhaust its resources and leave insurers without further coverage.

The Florida Hurricane Catastrophe Fund is statutorily responsible for providing property insurers up to $17.5 billion in coverage for a single storm season and another $11 billion for losses from a second storm.

Cat Fund Executive Director Jack Nicholson said the Cat Fund currently has $8.5 billion in cash and an estimated bonding capacity of $7 billion for a total of $15.5 billion. However, that still leaves it short by $1.5 billion to meet its first storm obligations and potentially on the hook for another $11 billion.    Read more in the "Insurance Journal"

The Florida Hospital group has announced it will begin offering patients health insurance starting in January 2014.

The Daytona-based Florida Hospital, which has five hospitals in the state, is part of the Adventist Health System, the largest not-for-profit health system in the country with 44 hospitals located in 10 states. The hospital is already providing health care services to low income and underprivileged patients at subsidized costs.

Florida Hospital is also planning to put the product in Florida’s health insurance exchange that is set to be established under the federal Affordable Care Act.

The five Florida Hospitals located in the state are working with the Brevard Country-based Health First Health Plans that will oversee the policies and create the administrative infrastructure to process claims and provide other services. The hospitals are also working to establish a physician network.    Read more in the "Insurance Journal"

Malpractice defendants must not try to circumvent a Florida law that bars them from obtaining confidential medical information about plaintiffs from other doctors or dentists who are treating them, the state Supreme Court said in a recent ruling.

The 5-2 ruling prohibits private meetings about cases between lawyers and plaintiffs’ other doctors even if they intend to discuss only non-privileged matters.    Read more in the "Insurance Journal"

Florida regulators are working on a report that is expected to layout the financial status, claims handling and other administrative workings of the state’s 1.4 million policyholder-backed property insurer.

Florida Insurance Commissioner Kevin McCarty, in response to an inquiry by state Rep. Frank Artiles, R-Miami-Dade, said his office has completed the field work of the examination of Citizens Property Insurance Corp. and is now reviewing the data in order to make a report to state lawmakers next February.

McCarty said the market conduct exam is not as extensive as requested by Artiles, but noted it comes at the same time as the state’s Auditor General and Inspector General of the Office of the Governor are conducting inquiries into the alleged misconduct of Citizen’s executives.          Read more in the "Insurance Journal"