Letter Urges Reducing Florida’s Cat Fund Risks


ACI, along with a group of nonprofit groups, has written a letter to the Cat Fund CFO and the Florida State Board of Administration urging them to use private capital to reduce risks and the potential for hefty hurricane tax assessments on consumers, churches, nonprofits and small businesses.  The letter is available here.

Regulatory Creep and Ridesharing


Uber, Lyft and Sidecar are fast-growing “ridesharing” services that compete with each other and with conventional taxis.  The ridesharing services are summoned through an Internet app tied to an established personal account.  The app handles booking, payment, and a ride survey. Ridesharing can be a compelling economic proposition to consumers.  In urban settings, it can […]

Florida Insurance Fraud Continues To Be Rampant


Some say every insurance crisis inevitably traces back to a handful of lawyers and that abuse of Assignment of Benefits (AOB) is no exception. What I’ve recently uncovered seems to bear this out in mind-boggling terms. Just like PIP and sinkholes, AOB has all the markings of just another sue-for-profit scheme. (See “What is an […]

Spending Habit Can Tee up Another Bailout


Two of the largest US institutions are at risk of going wobbly.  Fannie Mae lists $3 trillion and Freddie Mac lists $1.7 trillion  in securitized mortgages that they sold to banks usually with guarantees.  According to some sources, their impressive performance in recent years may be drawing to a close and their federal masters have […]

Insurance Commissioner Choses the Wrong Beneficiary


From the dusty file rooms of Utah insurance brokerages we hear indignant squeals of discomfort. A new competitor called Zenefits rode into town offering customers a much better deal than has been seen in decades. In response, the Utah brokers tied on their guns and did what they have been taught – hunkered down behind […]

When Insurance Regulators Harm

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Human resources has always been something of an afterthought in the business world; a necessary evil. Budding businesses, startups, and small shops make up over 99% of U.S. enterprises and create more than 70% of our new jobs. But creating a small business or launching a startup comes with a hefty risk. Indeed, all too […]

ACI on Florida’s Insurance Problem


Alan Daley has an op-ed that highlights the urgency for insurance reform in Florida.  The piece is available online in The Tallahassee Democrat.   The Calm before the Financial Storm Florida has a government-run entity called Citizens Property Insurance Corporation that was created to insure consumers and small businesses who cannot find an insurer offering […]

Expecting a Crush of Lenders for Low Down Payment Mortgages?

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The most prominent obligation for federal bank regulators – the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve, and the Controller of the Currency – is to avoid another taxpayer bailout as happened in 2008. The Troubled Asset Relief Program (TARP) infused $250 billion into banks to stabilize them.  The program was embarrassing to banks […]