Florida's Latest News

In 2023, Florida insurers turned first profit in seven years, new report says

In 2023, Florida’s domestic insurers turned a net profit for the first time in seven years, a new report by marketing intelligence company S&P Global said. The study of “around 50” Florida-based insurers credited the turnaround to investment income, a mild hurricane year, and tort reforms that took effect in March 2023.

The group reported $147.3 million in net income for 2023, according to the analysis by Jason Woleben of S&P Global Market Intelligence that was released on Wednesday. That compares to net losses of more than $1 billion in each of the previous two years.

The results are likely to renew hopes that insurers might soon begin to reduce property insurer rates for Florida’s homeowners.

The report quoted Universal Insurance Holdings CEO Stephen Donaghy as telling investors during the company’s third-quarter earnings report last year that future rate reductions in Florida might be possible.

Gov. DeSantis signs Kathleen Passidomo’s signature ‘Live Healthy’ package

'This is a game changer, our state will forever be changed.'

Gov. Ron DeSantis has signed a health care overhaul orchestrated by Senate President Kathleen Passidomo, who called it the pinnacle of her legislative career.

The suite of bills (SB 1758, SB 7016, SB 7018 and SB 330) deal with everything from where babies are born to the creation of new behavioral health teaching hospitals. But the core of the legislation is designed to boost the number of health care professionals working in a state that is growing yet also getting older.

“This is a game changer, our state will forever be changed,” said Passidomo before DeSantis signed the bills at an event held in Bonita Springs. Joining DeSantis and Passidomo were Florida Surgeon General Joseph Ladapo, Agency for Persons with Disabilities Director Taylor Hatch and Tampa General Hospital CEO Jon Couris, along with a bevy of legislators involved in passing the bills.

Florida Supreme Court dismisses challenge against Seminole Gaming Compact

The Florida Supreme Court on Thursday denied a challenge against a state compact with the Seminole Tribe that allows for mobile sports betting.

The case, brought forth by parties including West Flagler Associates, parent company of Magic City Casino in Miami and the Bonita Springs Poker Room, argued that the compact’s provisions violated the Florida Constitution.

Specifically, they contended that the expansion of casino gambling, including sports betting, should be decided by voter initiative rather than by state compacts or legislative action.

However, the court ruled unanimously that the legal method chosen by the petitioners, a writ of quo warranto, was not the appropriate avenue for challenging the law’s constitutionality. Quo warranto actions are typically used to address whether an individual has the authority to hold a particular public office or exercise certain powers, not to question the legality of enacted laws or state agreements.

Trump's Truth Social company files lawsuit in Sarasota County

The road to a merger of two companies that could net Donald Trump a windfall of over $3 billion was rocked by accusations of impropriety and sabotage, the extent of which is detailed in a lawsuit filed in Sarasota County.

Shareholders on Friday voted to approve a merger between Trump Media & Technology Group – the parent of social media platform Truth Social – and a company called Digital World Acquisition Corp., or DWAC.

As a result of the merger, TMTG – based on Cattlemen Road in Sarasota – will soon begin trading on the Nasdaq stock market and Trump could profit substantially at a time when he owes more than $500 million in legal fines.

The merger vote was delayed by problems for years, including scrutiny by the Securities and Exchange Commission and the U.S. Department of Justice, rendering Friday's vote crucial to Trump's financial portfolio as the 2024 election approaches.