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Florida Agents Must Return $4M in Unearned Commissions From Insolvent Gulfstream

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Florida Agents Must Return M in Unearned Commissions From Insolvent Gulfstream


Insurance company bankruptcies are hard sufficient on insurance policy holders and also firm execs, however neighborhood representatives throughout Florida additionally are really feeling the discomfort from one current liquidation and also might quickly feel it from others.

The Florida Division of Financial Solutions has actually alerted representatives that billings for unearned payments for Gulfstream Residential property and also Casualty Insurance Policy Co., which was sold off last summer season, would certainly be sent beginning today.

The overall payments that need to be returned total up to around $4.1 million, and also need to originate from 985 companies, stated Kyle Ulrich, head of state of the Florida Organization of Insurance Policy Professionals.

That’s approximately $4,162 per firm. Yet some Florida companies composed hundredss of Gulfstream plans that were terminated prior to they ended, and also might encounter substantial costs.

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“I assume we’re most likely obtaining a costs for regarding $20,000,” stated David Radcliffe, a branch supervisor and also manufacturer at Undergrowth Anderson Insurance policy firm in Gulf Wind, Florida. “We have the cash, however suddenly we need to create a look for that.”

Numerous representatives in Florida in 2022 will certainly additionally be asked to return unearned payments from St. Johns Insurance Policy Co. and also from Character Residential Property and also Casualty Insurance Policy, which were considered bankrupt previously this year. Lighthouse Residential Property Insurance policy Co. was put right into receivership recently by Louisiana regulatory authorities, and also representatives in Florida might be asked later on this year to return their payments on those plans.

And also a lot more bankruptcies are anticipated prior to the year is out as numerous insurance providers remain to encounter losses from cyclone cases, roof covering substitutes and also lawsuits expenses.

Bradford

“It’s not an enjoyable time to be in the insurance coverage company as a representative today,” stated Brownish-yellow Bradford, proprietor of the We Guarantee firm in Navarre, Florida.

Bradford stated she had actually blogged about 50 house owner plans with Gulfstream, however has actually not yet seen the costs from the Division of Financial Solutions.

“I envision some companies will certainly be harmed a great deal greater than we are,” she stated.

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One panhandle insurance coverage firm apparently had actually created 1,600 plans with Gulfstream in recent times, representatives stated. Various other high-volume manufacturers around the state might encounter also higher expenditures. Gulfstream had greater than 35,000 plans effective when it was sold off in July 2021, state authorities have actually stated.

DFS suggested that all billings for unearned payments ought to be sent out to representatives by the end of May. The division, which is functioning as the receiver for Gulfstream, will certainly collaborate with representatives that require aid in paying, the FAIA’s Dave Newell stated Tuesday in a notice to representatives.

“Do not be reluctant to connect to the receiver to exercise a settlement strategy,” the notice kept in mind. “Please upload any type of concerns you might have regarding this procedure, so we can obtain explanation from the receiver.”

Gulfstream additionally ran in Texas, Alabama, Mississippi and also South Carolina, so representatives in those states additionally are impacted. A notification southern Carolina Residential Property and also Casualty Insurance policy Warranty Organization stated that representatives because state will certainly obtain notifications from Florida regulatory authorities regarding unearned payments.

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Florida

Virginia boy charged with making swatting calls to Florida schools

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Virginia boy charged with making swatting calls to Florida schools



CBS News Miami

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An 11-year-Virginia boy has been charged in Florida with calling in more than 20 bomb or shooting threats to schools and other places, authorities said Thursday.

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Flagler County Sheriff Rick Staly said that authorities worked hard to find the caller before the school year resumes.

“This kid’s behavior was escalating and becoming more dangerous,” Staly said. “I’m glad we got him before he escalated out of control and hurt someone.”

Swatting is slang for making a prank call to emergency services in an attempt to send a SWAT team or other armed police officers to a particular place.

Flagler County emergency services initially received a bomb threat at Buddy Taylor Middle School on May 14, officials said. Additional threats were made between then and May 22. 

Investigators tracked the calls to a home in Henrico County, Virginia, just outside Richmond. Local deputies searched the home this month, and the 11-year-old boy who lived there admitted to placing the Florida swatting calls, as well as a threat made to the Maryland State House, authorities said. Investigators later determined that the boy also made swatting calls in Nebraska, Kansas, Alabama, Tennessee and Alaska.

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The boy faces 29 felony counts and 14 misdemeanors, officials said. He’s being held in a Virginia juvenile detention facility while Florida officials arrange for his extradition. Investigators didn’t immediately say whether the boy had a connection to Florida.

A 13-year-old boy was arrested in Florida in May, several days after the initial call, for making a copycat threat to Buddy Taylor Middle School.



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Is there a sunken nuclear bomb near Florida? Here’s what to know

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Is there a sunken nuclear bomb near Florida? Here’s what to know


TYBEE ISLAND, Ga. – Off the coast of Georgia, a massive bomb potentially sits in the water after having been flown out from Florida decades prior.

According to NPR, the whole incident began in 1958 when a B-47 bomber plane took off from Homestead AFB in Florida with the 7,600-pound nuclear bomb in tow, heading out to meet up with another bomber for a training exercise.

During an open house at Boeing Plant 2 in Seattle, Washington, people walk around to view the lineup of Boeing bomber planes. This lineup at the northend of Boeing Field includes the B-29, B-47 “Stratojet,” and the B-52 “Superfortress.” (Photo by © Museum of Flight/CORBIS/Corbis via Getty Images) (Museum of Flight/Getty Images)

HOW DID IT HAPPEN?

The plan was to reportedly simulate an attack on the Soviet Union as part of the exercise, and everything was going well — until another training mission mistakenly crashed into the B-47 carrying the bomb.

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As a result, the pilot chose to let loose the bomb over the water off Tybee Island in Georgia before making an emergency landing in a nearby swamp.

Tybee Island Lighthouse (Photo by J. Miers via Wikimedia/Creative Commons)

The bomb didn’t go off even after dropping into the ocean below, though that could be because the nuclear material needed to set such bombs off was typically kept separate from the weapon until it was needed, the BBC reports.

DID THEY FIND IT?

Federal officials spent over two weeks searching for the bomb in the aftermath, but it was ultimately determined to be irretrievable.

While a receipt written by the pilot shows that the necessary capsule wasn’t added to the bomb before the training exercise — meaning it wouldn’t be at a huge risk of detonation — other federal officials have claimed otherwise, such as a former Assistant Secretary of Defense W.J. Howard, who claimed that the bomb was “complete.”

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“He concluded that despite our best efforts, the possibility of an accidental nuclear explosion still existed,” a declassified report reads.

Nowadays, the bomb is thought to be covered by several feet of silt on the seabed, but if the explosives within are still intact, it could pose a major hazard to the environment. As such, federal officials have determined that it should be left undisturbed — even by further recovery attempts.

CAN AN ATOMIC BOMB GO OFF UNDERWATER?

If it’s actually off the coast of Tybee Island, then yes: the bomb can still detonate, even underwater.

In 1946, the U.S. tested an atomic bomb at the Bikini Atoll — in the Pacific Ocean far southwest of Hawaii — by suspending it below several ships filled with pigs and rats.

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After it was set off underwater, nearly all of the animals died, either thanks to the initial explosion or from the radiation poisoning afterward. And the area is still irradiated to this day.

The Baker test during Operation Crossroads, a series of two nuclear weapons tests conducted by the United States at Bikini Atoll. 25th July 1946. The purpose of the operation, which included two shots, ABLE and BAKER, was to investigate the effect of nuclear weapons on naval warships. Mushroom-shaped cloud and water column from the underwater Baker nuclear explosion. Photo taken from a tower on Bikini Island, 3.5 miles (5.6 km) away. Marshall Islands, Pacific. (PHoto by Galerie Bilderwelt/Getty Images) (2015 Galerie Bilderwelt/Getty Images)

WHAT HAPPENS IF IT DETONATES?

For starters: it doesn’t appear as likely that the bomb will explode.

While Howard initially claimed the bomb was complete, a military spokesman told The Atlantic in 2001 that they’d spoken with him, and “he agreed that his memo was in error.”

But if the bomb did manage to get outfitted with a plutonium trigger and detonated, it would erupt into an explosion with a mile-wide radius — and thermal radiation reaching 10 times that distance, according to the Savannah Morning News.

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That would no doubt cause havoc within the immediate proximity, but on the bright side, Tybee Island is well over 100 miles (roughly a two-hour drive) from Florida’s border. This means Florida residents have little to fear from the direct impacts of such an explosion.

So you can sleep tight knowing you’re not likely to find yourself on the worse end of a nuclear weapon.

That being said, there are still plenty of other scary things in Florida to keep you up at night.


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Trulieve adds $5M to recreational marijuana campaign in Florida

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Trulieve adds M to recreational marijuana campaign in Florida


Stream FOX 35 News

The medical cannabis company Trulieve has contributed another $5 million to a campaign to allow recreational marijuana in Florida, according to a newly filed finance report. 

The company made the contribution on July 15 to the Smart & Safe Florida political committee, which is leading efforts to pass a recreational marijuana initiative on the November ballot. 

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According to a state Division of Elections database, Trulieve had contributed about $60.39 million to the committee as of July 19. 

The committee raised a total of $66.475 million in cash and nearly $129,000 in in-kind contributions, and it spent $53.963 million. 

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The initiative, which will appear on the ballot as Amendment 3, says, in part, that it would allow “adults 21 years or older to possess, purchase, or use marijuana products and marijuana accessories for nonmedical personal consumption by smoking, ingestion, or otherwise.” 

Voters in 2016 passed a constitutional amendment that allowed medical marijuana.



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