Florida News That Impacts You – October 11th, 2023
Bottom Line: Your daily recap of the biggest news from around the state that impacts you in South Florida.
- Two disturbances are active in the Atlantic. A tropical depression has formed off the coast of Africa which is expected to develop into a tropical storm before weakening in the mid-Atlantic. Another disturbance off the coast of Africa is being given a 20% chance of development over the next week.
- In advance of January’s state legislative session, the state’s Senate Banking and Insurance Committee held a hearing on the status of Florida’s property insurance market. Florida’s Insurance Commissioner, Michael Yaworsky testified that reforms passed during the previous two years have begun to work to “restore rationality” in the market. The state’s insurance commissioner also said two additional property insurers, that have yet been named, are seeking to enter Florida’s market following seven other property insurers in recent months.
- Governor DeSantis announced a series of sanctions against Iran in the wake of the Iranian-sponsored Hamas terror attacks against Israel. Quoting DeSantis, Florida is standing with Israel and taking action to expand sanctions against the Iranian regime. I urge the federal government to follow suit and get rid of the delusion that you can make deals with Iranian mullahs without funding terrorism. The sanctions ban will include: the financial, construction, manufacturing, textile, technology, mining, metals, shipping, shipbuilding and port sectors.
- Gas prices are two cents lower today. Statewide the average price for regular unleaded is $3.42 per gallon – 10 cents lower than a week ago. In Palm Beach County the average price is $3.63 per gallon, which is the 4th highest price in the state. Oil prices have stabilized after a 4% increase on Monday resulting from the Israel-Hamas war.