Monday's Afternoon Update
What you need to know about Florida today
Why Florida small business owners should put fraud protection at the top of their holiday wish lists
The holiday season can be the most wonderful time of the year for many small businesses, with sales boost from gift buying and holiday party spending. It’s a happy time for employees, too, as they receive word of end-of-year pay raises and bonuses. But larger sales volumes can make it harder for business owners to spot suspicious activity. And increased communication about bonuses or annual benefits changes encourages fraudsters to pump out phishing emails. More from the Orlando Business Journal.
Florida’s Citizens may seek $5.5 billion in reinsurance in 2024
Florida's insurer of last resort Citizens may seek some $5.5 billion in traditional and capital market reinsurance for the 2024 season, a proposal prepared for board consideration indicates. The $5.5 billion in traditional reinsurance and capital market instruments would singlehandedly cover $4.88 billion of the combined tower above $9.47 billion (loss & LAE) and additionally pick up 10% of a $6.2 billion layer above $3.25 billion alongside the state-run Florida Hurricane Catastrophe Fund (FHCF). More from Intelligent Insurer.
A wet future: South Florida’s plan to fight flooding if sea levels rise 3 feet by 2075
Last month, over the course of a few days, 12 inches of rain fell on much of Broward and Miami-Dade counties. As western suburbs began to flood, king tides pushed in from the ocean, and there was nowhere for the floodwater to go. This scenario is a harbinger of things to come for South Florida, as sea-level rise creeps inland and storms become more intense. The multitude of canals and spillways that drain Miami-Dade and Broward counties are becoming obsolete, and the Army Corps of Engineers and SFWMD are concerned enough to hatch a plan. More from the South Florida Sun-Sentinel.
Manatees that have lived at Florida theme park since 1956 to be freed
After a near lifetime of captivity, two manatees will finally be freed from a Florida aquarium that authorities say held at least one of them in deteriorating living conditions. Romeo and Juliet, 67 and 61 years old, have lived at the Miami Seaquarium since they were captured as calves in 1956. More from the Business Observer.
Florida gasoline price averages flirt with sub-$3 before spike in last week of November
Florida gasoline prices are falling again after a sudden spike in the middle of last week. Gas hit a new low of $3.01 per gallon last Monday, but jumped to $3.17 by Thursday. AAA-The Auto Club Group spokesperson Mark Jenkins said there isn't a "clear explanation" for the increase last week, but drivers are going to find prices near where they were at the beginning of last week. More from the Tallahassee Democrat.
Out of the Box
Florida-based flying car company gets FAA approval. When will they be on the market?
Flying cars might sound like science fiction, but hundreds of startups around the world – including some based in Florida – have been testing flying car technology for years and are almost ready to start selling them. According to Morgan Stanley Research and Business Insider, the advanced air mobility market (AAM) is projected to surpass $1 trillion by 2040. And Florida could count for a sizable piece of that pie.
» More from the Palm Beach Post.
Yes, Florida has Christmas tree farms
Yes, Florida has Christmas tree farms, and yes, you can pick and cut down your own a la "National Lampoon's Christmas Vacation." The farms offer a unique experience for Floridians used to shopping for pre-cut trees at big-box stores or church parking lots — and they provide a glimpse into a time before those big-box stores even existed.
» Read more from Axios.
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