Last Call for 10.22.24 – A prime-time read of what’s going down in Florida politics

Last Call – A prime-time read of what’s going down in Florida politics.

First Shot

Chief Financial Officer Jimmy Patronis talked about the elephant in the room when he took the stage at Tuesday’s 2024 Florida Chamber of Commerce Future of Florida Forum.

The Panama City Republican opened with positive stats on the state’s fiscal health, telling attendees that Florida’s economic growth has shielded the state from the harsher impacts of inflation, and its comparatively low taxes continue attracting Americans from other states.

“I’m glad to say that we’re in the best fiscal health we’ve ever been in the history of the state,” Patronis said.

While the overall economic prognosis is favorable, one sector commands most of the CFO’s attention, rarely for good reasons.

Property insurance premiums have been skyrocketing — in some cases logarithmically — for years, and a string of major insurer exits and minor insurer insolvencies has made it difficult to see if laws passed to stabilize the market are starting to produce results. Throw in back-to-back blows from Helene and Milton, and the anxiety mounts further.

Patronis assured the crowd at F3 that the state’s property insurance market is bouncing back.

“You know, the one thing that people love to pick on Florida about is the collapsing insurance market. And if I’ve answered it once, I’ve answered it 30 times, especially over the last two weeks. ‘Well, is this not going to lead to heightened insurance rates and the collapse in the Florida market?’ And there’s no doubt that Florida’s had its challenges. But if I can quote Mark Twain, the news of my death has been greatly exaggerated,” Patronis said.

Most insurance legislation added to the books in recent years has focused on curbing so-called “lawsuit abuse,” including restrictions on AOB agreements and the end of one-way attorney fees.

In a potential preview of future legislation, Patronis said excessive litigation was still the main driver behind premiums increases and shared anecdotes about businesses that have found ways to work around the restrictions. Closing those “loopholes” will require action from the Legislature.

Notably, Patronis downplayed the actuarial impact of strengthening tropical cyclones, recalling something he was told by a representative of insurance titan Lloyd’s of London: “Jimmy, we can model for hurricanes that are affecting the Florida insurance market. We cannot model for the litigation environment in your state.”

Evening Reads

—”Early-voting data shows Republican reversal appears to be paying off” via Amy Gardner, Patrick Marley, Colby Itkowitz and Yvonne Wingett Sanchez of The Washington Post

—”Wall Street pros get into position to profit from a Donald Trump win” via Caitlin McCabe of The Wall Street Journal

—”2 charts that tell TOTALLY different stories of the 2024 Election” via Chris Cillizza of So What

—“The clock is ticking on Kamala Harris” via Jonathan Martin of POLITICO Magazine

—“Likability isn’t enough” via Nate Silver of the Silver Bulletin

—”If Harris loses, expect Democrats to move right” via Eric Levitz of Vox

—”The improbable coalition that is Harris’ best hope” via Ronald Brownstein of The Atlantic

—“Why abortion bans, union busting, and tax breaks for billionaires go together” via Jason Garcia of Seeking Rents

—“Democrats’ McDonald’s meltdown continues” via Jamie Miller of Reasonable Arguments

—“The many links between Project 2025 and Trump’s world” via Elena Shao and Ashley Wu of The New York Times

—”Who are Florida Supreme Court Justices Meredith Sasso and Renatha Francis?” via Krista Torralva of The Tributary

—“Supermajority cracks? These 10 districts could prompt a Florida House power shift” via Florida Politics

Quote of the Day

“I’m not sure I’d put my money on the Gators on this one, but you never know, right?”

— Gov. Ron DeSantis, gently reminding Gators fans that their football team is mid, at best.

Put it on the Tab

Look to your left, then look to your right. If you see one of these people at your happy hour haunt, flag down the bartender and put one of these on your tab. Recipes included, just in case the Cocktail Codex fell into the well.

We’re recommending Inconvenient Truth for the Governor. That’s not a play on the climate change doc; it’s merely a commendation for his willingness to speak plainly about how abysmal the Noles and Gators are this year.

Former U.S. House Speaker Nancy Pelosi boosted Florida Democrats’ GOTV efforts this afternoon. If the bartender has any aged Canadian whiskey, have them mod this Speaker of the House Cocktail into a “Speaker Emerita.”

New data from OIR shows most insurance claims filed after the three hurricanes that hit Florida this year were closed without insurers shelling out any cash. If that doesn’t trigger alarm bells, order a Pay It No Mind. 

Breakthrough Insights

Tune In

Panthers conclude home stand vs. Wild

Division-leading Florida Panthers host the Minnesota Wild tonight in South Florida (6:30 p.m. ET, Scripps Sports, ESPN+).

After winning the Stanley Cup for the first time in franchise history last season, the Panthers have opened the 2024-2025 season on a hot streak. In the season’s first seven games, Florida has won four and earned nine points to take the early lead in the Eastern Conference’s Atlantic Division.

Remarkably, Florida has been outscored by a goal in the season’s first seven games.

Florida is coming off a 4-3 overtime win over the Vegas Golden Knights in a rematch of the Stanley Cup Finals. Gustav Forsling’s goal with 17 seconds remaining in overtime proved the game-winner.

The Panthers’ center, Sam Reinhart, has recorded a point in five straight games, scoring four goals and six assists in the five-game stretch. Reinhart leads the team and is tied for the NHL lead with 12 points. Artemi Panarin of the New York Rangers and Colorado’s Cale Makar also have 12 points this season.

Florida is winning despite a rash of injuries. Center Aleksander Barkov is out for the rest of the month with a lower-body injury. Lew winger Tomas Nosek is also likely out for the rest of the month. Wingers Matthew Tkachuck and Jonah Gadjovich are both day-to-day.

Tonight’s game is the final matchup in a three-game homestand at Amerant Bank Arena.

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Last Call is published by Peter Schorsch, assembled and edited by Phil Ammann and Drew Wilson, with contributions from the staff of Florida Politics.