Examining the insurance problem in Florida

Because of the routinely extreme weather combined with other market conditions, many national insurance carriers have shutdown business in the Sunshine State, leaving only smaller Florida-based insurance companies to address the complex needs of residents. Clearsurance, an independent online insurance resource, has released a survey of the top 10 most happy - and least happy - states for homeowner's insurance. Florida is #1 on the unhappy list. But, Clearsurance also states that customers in the least happy states mentioned damaging weather nearly twice as much – 8 percent of the time. See a summary report here. Also read more at Property Casualty 360.

See also:
» Insurer: Florida's assignment-of-benefit law leads to fraud, lawsuit abuse
» Commentary: How Florida’s flood insurance model could work nationwide
» Quick poll: How confident are you that your homeowner's insurance policy will cover you when you need it?

Future of Florida hops just got a little brighter

Researchers, as well as private industry, are starting to shine light on growing hops in Florida and are indeed pushing for development of a Florida hop industry. This summer, University of Florida researchers, as well as researchers from the USDA and Florida Hops LLC, revealed results of their individual light treatment studies. Results showed by using lighting, hops plants can be controlled as to when to flower and timed to meet market and environmental demands. Read Richard M. Smith's column in Growing Produce.

New rival for Publix? Kroger buys Florida shopping center

Et tu, Kroger? The nation’s largest grocer appears to be pushing into the backyard of Florida’s largest grocer. If Kroger were to open in Palm Beach County, it would be the grocery giant’s first appearance in Florida. Kroger operates in 35 states, but Florida is conspicuously absent from that list. More from the Palm Beach Post and the Real Deal.

Crackdown on dirty money shook Miami real estate. Now, Rubio wants to take it national

In a move with significant implications for the U.S. housing market, Florida Republican Sen. Marco Rubio is seeking to take a Treasury Department crackdown on dirty money in luxury real estate and expand it from a few high-priced enclaves to the entire nation. [Source: Miami Herald]

Pediatric spinal surgery at Miami's Nicklaus Children's Hospital

The Division of Spinal Surgery at Nicklaus Children’s is one of the nation’s leading providers of treatment for children with spinal conditions such as scoliosis. The division has been providing treatment for more than 35 years and has been instrumental in development of corrective surgical procedures for spine conditions now in use throughout the world. Full story here. [Sponsored report]

ALSO AROUND FLORIDA:

› Carnival Triumph getting $200 million overhaul and new name [News release]
Carnival Triumph is getting a $200 million bow-to-stem makeover and a new name prior to its planned return to Port Everglades in October 2019. The ship will be renamed Carnival Sunrise following a two-monthlong dry dock refurbishment in Cadiz, Spain, beginning March 1.

› DaVita laying off 109 at Orlando facility after selling prescription unit [Orlando Sentinel]
Dialysis provider DaVita Inc. is laying off 109 employees at a prescription-drug distribution facility in Orlando. The layoffs come after a sale involving its DaVita Rx prescription-drug unit to pharmacy retailer Walgreens, spokesman Skip Thurman said.

› PGT selling $315 million in notes to finance latest deal [Sarasota Herald-Tribune]
PGT Innovations Inc. announced Tuesday a private offering of up to $315 million of senior notes to finance its $360 million purchase of an Arizona window and door manufacturer. The Venice-based maker of impact-resistant windows and doors announced a deal last week to buy Western Window Systems from PWP Growth Equity.

› First Citizens Bank names Monica Hummel as Tampa-area executive [Tampa Bay Times]
First Citizens Bank has named longtime-executive Monica Hummel as its Tampa-area executive, the bank announced Tuesday. First Citizens Bank & Trust Co. acquired Tampa-based HomeBancorp in May.

Go to page 2 for more stories ...

› Sewage leak sends nearly 1 million gallons of waste into Indian River Lagoon [WESH]
Hundreds of thousands of gallons of sewage spilled into the Indian River Lagoon after a leak opened in Titusville, officials said. The city of Titusville said it became aware on Monday of the leak behind one of its lift stations on Indian River Avenue.

› Boulder edibles company sets sights on Florida [Business Den]
Boulder-based Wana Brands, one of Colorado’s largest producers of cannabis-infused edibles, is making a bet on the Sunshine State — even though Florida hasn’t legalized cannabis consumables yet.

› A new JEA tower near TIAA Bank Field? It’s possible [Florida Times-Union]
A new JEA headquarters could become one of downtown’s most significant construction projects in years and potentially anchor one of several high-profile private developments planned in downtown, according to new plans shown to the utility’s board of directors Monday.

› Where Florida stands among states with the most millionaires [Tampa Bay Business Journal]
Florida's concentration of millionaires is 5.23 percent, ranking it No. 31 among the 50 states. There are 427,824 millionaire households in the Sunshine State, according to Kiplinger, a Washington, D.C.-based publisher of business forecasts and personal finance advice.