A.M. Best Co. has released the latest installment of the Insurance Law Podcast, a series that examines timely insurance issues from an attorney’s point of view.The latest episode features attorneys Fred Karlinsky and Katie Webb from the law firm Colodny, Fass, Talenfeld, Karlinsky & Abate in Florida. Karlinsky and Webb discuss the 2009 session of the Florida Legislature and its impact on property insurance law and State Farm’s decision to withdraw from the state insurance market.
Listen or subscribe to the Insurance Law Podcast at http://feeds.feedburner.com/InsuranceLaw.
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Cecil Pearce, AIA Southeast region vice president, issued the following statement today on Gov. Charlie Crist’s veto of HB 1171, legislation that would have allowed certain well-capitalized insurers to offer residential property insurance policies unregulated as to rates.
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“AIA believes the governor’s veto is an opportunity lost for Florida – an opportunity to provide a modest, market-based alternative to Florida’s over-regulated property insurance market that has been in short supply in recent years.
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“We appreciate the support given this bill by Rep. Bill Proctor and Sen. Mike Bennett and their legislative colleagues, who approved the bill overwhelmingly in both the House and Senate, and by consumers who are asking for more choices in the marketplace.
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“Florida needs to attract billions of dollars in private capital from outside its borders if it's to have a competitive property insurance market that can provide the choices consumers need; capital that will be critical to creating the environment for Florida’s future economic growth once the recession ends. This type of legislation -- although vetoed this year -- is a positive sign that many of Florida’s policymakers understand that imperative; AIA hopes that Florida's governor will ultimately join their ranks.”
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