Friday's Afternoon Update
What You Need to Know About Florida Today
Why Florida insurance premiums are risingThis week marked the end of hurricane season and six years without a direct hurricane hit for Florida. But many home insurance premiums in the state are still rising. What gives? "Insurers know the cycle won't last and that the costs associated with a hurricane's long tail require building up the reserves to pay those damages," according to the Insurance Information Institute, an insurance industry research and trade group. [Source: South Florida Sun-Sentinel]
Jorge Perez gives $35 million naming donation to Miami Art Museum
Joining the ranks of major givers in Miami, developer Jorge Pérez has pledged to donate $35 million in cash and art from his personal collection to the new Miami Art Museum, which will bear his name when it opens in two years. The donation includes $5 million that Pérez has already pledged and partially paid; an additional $15 million for the capital campaign and $15 million worth of Latin American art to be chosen by the museum. [Source: Miami Herald]
Stetson University offers free ride to two homeless Florida students
Two homeless Seminole County children who captured the hearts of TV viewers nationwide with their optimism and sincerity are receiving an all-expenses-paid trip — to college.
Stetson University, a nationally ranked private school in DeLand, announced Thursday that it's offering full rides to the Metzger kids, who were featured in Sunday's "60 Minutes" show about families living out of their vehicles. Read more from the Orlando Sentinel and see our previous coverage for the backstory.
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Florida Business News
The country's largest auto retailer said it sold 5 percent fewer new vehicles this August compared to last, when the month included two days of the Labor Day weekend.
The University of Florida will double the size of the Florida Innovation Hub with another $8 million grant from the U.S. Economic Development Administration.
SeaWorld Orlando will give free admission to Florida-based first responders throughout September.
Florida Trend Video Pick
See where your morning orange juice comes from at a genuine Florida citrus grove. For generations, Mixon Farms in Bradenton has been growing, selling and shipping fresh citrus to customers around the world.
Should Florida residents be allowed to purchase electricity from independant solar power companies, and not be restricted to just purchasing power from utilities?