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Thursday's Daily Pulse
What you need to know about Florida today
Citizens coverage cap eyed as insurance crisis worsens
With homeowners struggling to find coverage, insurance regulators are looking at the possibility of lifting a $700,000 cap on policies sold by the state-backed Citizens Property Insurance Corp. Citizens is barred by law from providing what is known as a “replacement cost” coverage of more than $700,000 for homes, except in Miami-Dade and Monroe counties, where the limit is $1 million. But as Florida’s property-insurance market has crumbled and home values have soared, many homeowners have been dropped by private insurers and cannot qualify for Citizens coverage because of the $700,000 cap. [Source: News Service of Florida]
Florida sues U.S. Food and Drug Administration over plan to import prescription drugs from Canada
Florida has waited long enough. That's what Gov. Ron DeSantis said Wednesday while announcing that his administration is suing the U.S. Food and Drug Administration over a plan he claims will save Floridians hundreds of millions of dollars on prescription drugs. The governor said his administration has submitted multiple proposals to the FDA and U.S. Department of Health and Human Services since late 2020, seeking federal approval to import prescription drugs from Canada. [Source: WPTV]
The health of honey bee colonies in Florida
A world without bees would be bleak; there would be less food for human consumption, less variety among the fruits, vegetables, and nuts that remain, and the impacts of their absence would ripple throughout the food web. Stacker compiled statistics on honey bee populations in Florida using the most recent annual data from the U.S. Department of Agriculture. So far in 2022, colonies are down by 22% according to the most recent data from the U.S. Department of Agriculture. [Source: KPVI]
DeSantis ban on ‘woke’ investments could hurt state pension fund, experts say
After banning CRT in the classroom and board room, Gov. Ron DeSantis has a new target in his culture war against “wokeness” with another acronym most folks have never heard of — ESG. ESG is an investment strategy used to calculate the risk of long-term investments. The move against it comes as Florida’s pension fund dropped from a high of almost $200 billion a year ago to $179 billion in June as the stock market fell, according to a monthly SBA report to the trustees. [Source: Orlando Sentinel]
Florida monkeypox cases continue to climb
Monkeypox cases in Florida have more than tripled since the beginning of August, as an upward trend in infections continues. Data from the Florida Department of Health showed that the state has recorded 1,913 monkeypox cases of Monday, up from 525 cases reported through Aug. 2. Miami-Dade and Broward counties continue to report the vast majority of monkeypox cases, with 704 in Miami-Dade and 578 in Broward. [Source: News Service of Florida]
ALSO AROUND FLORIDA:
› Tampa is helping people pay rent. But some landlords won’t accept it.
In Florida, landlords of private properties don’t have to accept rent money from assistance programs, even if their tenants qualify for them. That nuance comes at a high cost for some Tampa residents who qualified for the city’s program. Of the 355 people who qualified for the aid, about 35 — or roughly 10% — couldn’t use it because their landlords refused the money, according to a city spokesperson.
› Brevard commissioners approve 10 grants for projects to help restore Indian River Lagoon
Brevard County commissioners this week unanimously approved grants for 10 projects designed to benefit the Indian River Lagoon. The Tourist Development Council's Tourism + Lagoon Grant Program allocations — which will total $939,343 — are funded by revenue from Brevard County's 5% tourist development tax on hotel rooms and other short-term rentals.
› ‘Festival of Speed’ could bring British motor event to South Beach for spring break 2024
Miami Beach is looking at importing a major motorsport festival from England in March 2024 that would likely bring tens of thousands of visitors to South Beach during spring break. Representatives for the Goodwood Festival of Speed — which is held annually at the Duke of Richmond’s estate in England and attracts over 100,000 people — are pitching Miami Beach officials on the idea.
› Health is wealth, but one economist says for some in Florida it’s also debt
An ownership group including former Heisman Trophy-winning quarterback Tim Tebow has acquired the rights to form a new franchise within the United Soccer League, aiming to return professional soccer to Jacksonville in 2025. Pending successful progress on establishing a home venue, the club intends to begin competition in the USL Championship — equivalent to the second level of the American soccer structure — in the spring of 2025.
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