Insurers Sue to Block Florida Law Mandating Search for Beneficiaries.
A new law requires life insurance companies to check to see if policy holders have died, and to seek out the beneficiaries if they have. Four companies that sell life insurance are suing the Chief Financial Officer of the agency responsible for enforcing law. The lawsuit asserts that, per the terms of the contract, it is not the death of the insured, but instead, plaintiffs receipt of due proof of death, that triggers their obligation to investigate and pay the claim. The insurance companies further claim that the law is unconstitutional because it applies retroactively to 150,000 policies.
This is a problem for insurance companies, who will incur additional expense in the process of seeking out these beneficiaries, as well as payment of several claims that would have otherwise been left unpaid.
This is problem for beneficiaries, who are meant to be protected by this law. The law suit could interfere with the agency’s ability to enforce the law, and claims due will remain uncollected.
Target recently announced that employees and customers could use restrooms and fitting rooms corresponding to their gender identity. The American Family Association sponsors a petition to boycott Target in opposition to the policy, contending that sex offenders will take advantage of the policy to peep at or molest women and girls.
This is a problem for Target, who stands to lose customers due to the boycott.
This is a problem for boycotters, who need the products and services they were getting from Target prior to the boycott.
Sanford Burnham received substantial economic incentives to located to Orlando in 2007, and has fulfilled expectations that it would build an outstanding medical research facility and catalyze development of a life science cluster in the Lake Nona area of Central Florida. The institute is now discussing a proposal with The University of Florida to allow UF to build upon and grow the research enterprise established in Lake Nona. This agreement requires support of stakeholders such as Orange County, Orlando, Lake Nona, the State of Florida, UF’s Board of Trustees and the State Board of Governors.
This could represent a problem for the stakeholders involved, particularly those who granted economic incentives for the institute to locate to the area for the stimulation of growth. This could represent opportunities for other institutions such as The University of Florida to fulfill the need for life science professionals and organizations to carry on the work of Sanford Burnham if they leave Orlando.
Three large construction projects in Central Florida have been under construction for 6 - 15 years, and estimates for their completion remain vague, with ranges from one year to 18 months.
This is a problem for the owners and developers of these projects. There is substantial expense associated with the length of time involved in these projects. Some of the delays have been due to unpredictable and prolonged shipping times of imported materials, language barriers with construction crews, use of exotic and unusual materials, the advancement of time has rendered aspects of the projects obsolete, requiring refurbishments simultaneous with construction, and financial challenges. Each of these causes of delays represents needs that are not being adequately addressed for the owners and developers.
This is a problem for the owners and developers of these projects. There is substantial expense associated with the length of time involved in these projects. Some of the delays have been due to unpredictable and prolonged shipping times of imported materials, language barriers with construction crews, use of exotic and unusual materials, the advancement of time has rendered aspects of the projects obsolete, requiring refurbishments simultaneous with construction, and financial challenges. Each of these causes of delays represents needs that are not being adequately addressed for the owners and developers.
A former Sea World manager was accused of voiding the sale of park tickets, and stealing the cash paid for the tickets.
This reveals a problem for Sea World, in that there appears to be a measure of security lacking that would prevent this type of theft from occurring.
This reveals a problem for the suspect, in that she likely has a compulsive problem, or is in a desperate financial situation, representing a need for mental health and financial management services.
Amira,
ReplyDeleteI think that the Target transgender policy sparking debates is very intriguing to watch play out. As something that is mandated by a company could spill out to play out in the courts system, and perhaps move further along into the federal system. The SeaWorld manager stealing cash for voided tickets is just crazy but it makes me wonder how often this happens with other ticket systems that get a lot people coming through with no monitoring from higher ups.
Amira,
ReplyDeleteI think it would be great if UF had the opportunity to build a research medical facility in the booming medical park in Lake Nona. This would keep UF's research competitive with UCF and other medical research.
For the manager at SeaWorld, this could pose an opportunity for a security company to help the company lock down on theft.
Do you think that it should be up to local governments to step up and require that for certain size scales of projects to have a time-to-completion requirement? To enforce that law, the state could have the authority to sell the debt of the company (maybe the bonds that were issued to the public to raise the funds) to investors that can claim the assets if the debts aren't paid. I could see this as an incentive for companies to complete their projects and overcome any obstacles or problems that occur. Think of the significant amount of resources that could be saved such as the unused space that is being taken up by the incomplete project. Space that could have been available to promote economic growth by another company.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteThese problems local to the Orlando area were very interesting and in most cases complex. The insurance one in particular is very intriguing, especially because it seems like the process to solve it will be difficult and drawn out, affecting the lives of many people in a very serious way. The Seaworld problem was also particularly interesting, because that seems like it was way to easy for that employee to do that! SeaWorld does seem to have some serious security issues, as you pointed out.
ReplyDeletehttp://ablopablo.blogspot.com/2016/05/identifying-local-opportunities.html
Amira, your local opportunities list is very strong. I like how you listed more than one opportunity for each article. For instance, the transgender bathroom policy at Target affects many people since it's such a controversial topic. You listed the opportunity for both sides which revealed the thought you put into the article. As well as how there can be multiple opportunities per issue depending on how you look at it. Well done!
ReplyDelete