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Despite the urgings of Florida Insurance Commissioner Kevin McCarty and others, Gov. Charlie Crist has vetoed the omnibus property insurance bill passed at the close of the 2010 legislative session.

Despite the urgings of Florida Insurance Commissioner Kevin McCarty and others, Gov. Charlie Crist has vetoed the state's omnibus property insurance bill passed at the close of the 2010 legislative session.

Guy Carpenter had some good reinsurance news for Florida today.

Reinsurance pricing at the June 1, Florida renewals declined by 10 to 12 percent on average compared to last year, reflecting a return of significant reinsurer capital into the marketplace, according to Carpenter & Company, LLC.

Officials with AAMGA expressed confidence that few changes would be made in the surplus lines elements of financial services regulatory reform as the House and Senate work out differences in their respective bills.

Businesses often overlook the need to buy extra or excess liability insurance limits, but these prudent coverage purchases are an essential safeguard, protecting against asset depletion from unforeseen risks.

W.R. Berkley executives said they would not hesitate to write coverage again for the operator of the oil rig that exploded in the Gulf of Mexico last month, adding that increased prices and insurance requirements for operators could provide opportunities.

Expanding potential liability for employers and their employment practices insurers, the U.S. Supreme Court gave the green light to an employment case involving the use of tests that have a disparate impact on a protected employment class.