Charlie Crist Home Owner Insurance Issue

Florida bundlers help bring in big bucks for Obama

President Barack Obama's campaign last week announced that more than 1 million people had contributed to his re-election effort, a milestone that it said was well ahead of four years ago.

All told, the campaign has raised more than $90 million (not including what he has raised for the Democratic Party) and officials stress the number of grass roots, low-dollar donors, noting that the average donation is less than $60.

"No matter what our opponents do, and however many people end up becoming a part of this campaign — this first million will always be the group that put this movement in the best position possible for the fights ahead," Obama said in an e-mail to supporters.

But the Obama fundraising machine also is relying heavily on rainmakers delivering tens of hundreds or hundreds of thousands of dollars in individual campaign contributions. These are the so-called bundlers, elite fundraisers who may not personally be able to write big checks, but who can tap large networks of friends and associates to funnel multiple donations to the campaign of their choice.

Florida bundlers have raised at least $4.5 million for the Obama campaign directly and for the Democratic National Committee. Federal campaign laws allow donations up to $5,000 to the campaign and $33,500 to the national parties. Florida's more than two dozen Obama bundlers include a mix of veteran Democratic fundraisers and power brokers, and relative newcomers to the world of top-tier fundraising.

"Basically since we announced the re-election campaign in April, we've gotten the old band back together, along with some new players who helped out a little four years ago and want to do more, or new people who want to get involved," said Florida finance chairman Kirk Wagar, a lawyer in Coconut Grove.

Several of top fundraisers, including Tampa businessman Frank Sanchez, Tallahassee lawyer Allan Katz and Caren and Dick Lobo of Sarasota, are no longer raising money because they have jobs with the administration.

Florida Home Insurance Bill Vetoed by Governor Charlie Crist ...

Florida Property Insurance Bill Generates Controversy amongst Insurance Industry

Florida Governor Charlie Crist’s decision to veto an omnibus property insurance bill, SB 2044, has generated a considerable level of controversy after he was urged to sign it by homeowners insurance industry trade organizations, executives, and even Florida Insurance Commissioner Kevin McCarty. Despite the recommendations of those who backed the bill, Gov. Crist, who has left the Republican Party to run as an independent for the U.S. Senate, expressed concern over potential Florida home insurance rate hikes that may have resulted from the bill. In his veto message, Gov Crist stated, “I am most concerned about the expansion of the current expedited rate filing procedure for property insurers that makes it easier to increase Floridians’ premiums.”

Although the bill was indeed expected to increase home owners insurance rates, supporters of the bill assert that the increased rates and reduced claims costs that the bill entailed were imperative to avoid massive financial risk associated with the 2010 Atlantic hurricane season and ensure future stability in the Florida homeowner insurance market. According to a statement issued by the Property Casualty Insurers Association of America (PCI), for example, “without the bill, we continue to confront the problem of a huge and growing financial risk that Floridians face from the next storm.” Others, such as current Florida Senate President Jeff Atwater, have taken a more personal approach to expressing outrage over Gov. Crist’s actions: “He yet again has found a way to mischaracterize the substance of legislation to advance his own political career,” said Sen. Atwater.

Most of the rationale for the Florida homeowners insurance industry’s overwhelming support for the bill has derived from recent increases in costs that have troubled property insurers. These costs have largely been a result of rising non-catastrophe and sinkhole claims, as well as claims from Hurricane Wilma that claims adjustors are now reopening. Among the industry officials disappointed with Gov. Crist’s veto is the Florida Property & Casualty Association, an organization of insurance companies and consultants, who said that SB 2044 would have made Florida home owners insurance more accessible and affordable to consumers as a result of decreased claims and fraud abuse. The group issued a statement, saying, “Unfortunately, it was erroneously portrayed by critics as a bill that would have raised rates without regulatory oversight. Nothing could be further from the truth. The veto of this bill will ultimately saddle all insurers with continued escalating losses resulting in less availability and higher rates.

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