Fellow Floridian:

Colorado State University hurricane forecaster William Gray announced today his prediction that seven storms will form into hurricanes during the 2008 hurricane season.  Fortunately, Florida did not experience severe hurricane damage during the 2007 hurricane season.   However, Floridians know all too well how destructive these powerful storms can be.  

By offering free wind inspections, the My Safe Florida Home (MSFH) program helps Floridians learn how to harden their homes against windstorm damage.  But did you also know that the MSFH program might be able to help you get a discount on your windstorm insurance? 

Many insurance companies provide discounts to homeowners who take steps to fortify their homes against the strong winds a hurricane can bring.  In fact, many homeowners are already eligible to save money on their insurance-- without making any improvements-- because their homes have additional protections, such as shutter protection on windows and doors.  

Approximately 75 percent of the homeowners who’ve applied for a free wind inspection have learned they are eligible to immediately save money on their windstorm insurance.   On average, the savings is $200, but we’ve heard from homeowners who are saving as much as $2000 each year!     

And it's easy to apply.  Any Floridian that lives in a single-family, site-built home is eligible.  Just fill out an application at www.MySafeFloridaHome.com or call our toll-free number at 1-866-513-MSFH (6734).  In just two minutes, you can be on your way to learning how to harden your home and determining if you are eligible for a discount on your wind insurance premiums. 

Sincerely,  

Alex

CFO Sink spoke today to more than 200 members of the Florida School Boards Association and representatives of several other education organizations gathered for their 62^nd Annual Joint Conference in Tampa.  She asked to speak to the group as she knew many had concerns about recent events with the Local Government Investment Pool operated by the State Board of Administration (SBA).  The CFO serves along with Florida’s Governor and Attorney General on the SBA Board of Directors that oversees the SBA.  After a brief speech in which she said she intends to work with her SBA board colleagues to bring more transparency and communication between SBA fund managers and investors, she took several questions. She got a hearty round of applause when Bill Montford, Chief Executive Officer of the Florida Association of District School Superintendents, thanked her for her “unprecedented access.”

STATEMENT FROM SBA TRUSTEES

After the first morning’s activity in the Local Government Investment Pool, Governor Charlie Crist, Attorney General Bill McCollum and Chief Financial Officer Alex Sink released the following statement:

“We are pleased to see the Local Government Investment Pool opened on time today and we are encouraged by the fact that new deposits were made into the fund. Withdrawal activity in the fund this morning was below expected levels, which continues to demonstrate cooperation among the fund’s investors and an interest in preserving the fund. We hope to see continued deposits from fund investors and remind local governments that all new subscriptions are fully available for withdrawal under the new plan.”

SBA TRUSTEES SEEK TO RESTORE PUBLIC'S TRUST

EDITOR'S NOTE:
• GOV. Charlie Crist, Chief Financial Officer Alex Sink and Attorney General Bill McCollum serve as trustees for the State Board of Administration, which handles investment and trust management services for the state. They issued this statement collectively on Thursday:

A decline in the real-estate market and the growing subprime mortgage lending crisis have impacted the U.S. financial market. In Florida, we are keeping a watchful eye over the state's investment funds, particularly our model pension fund.

As part of this oversight, the three of us, sitting together as the State Board of Administration's (SBA) Board of Trustees, took steps this week to address a lack of investor confidence in one of the investment pools.  CONTINUED

1-800-GET-LEAN
(1-800-438-5326)

CFO SINK IMPLEMENTS NEW TOOL TO SAVE MONEY, IMPROVE SERVICE

Florida Chief Financial Officer Alex Sink announced that Florida is the first state to implement the use of a new program that will improve services and save money in the administration of insurance company receiverships.

The Department of Financial Services (DFS), Division of Rehabilitation and Liquidation, recently used ClaimNet, a Web-based application that makes it easier for claimants in a receivership to submit a claim, update a claim or check on the status of an existing claim. The National Association of Insurance Commissioners (NAIC) launched ClaimNet in December 2006 to provide a uniform method for collecting and processing a receivership's claims data. Florida recently used the program for a receivership with more than 1,400 policies, and nearly half of the claimants used the program to submit their claims on line, saving money and time.

“As Florida’s fiscal watchdog, I am continually working to improve services and find ways to save taxpayer dollars,” said CFO Sink, who oversees the department. “Processing claims is one of the largest and costliest tasks associated with a receivership or liquidation, which can be a financial and emotional burden for consumers. With this program, we have improved the process and will have more funds to pay claims.”

DFS serves as receiver of any insurance company placed into receivership in Florida. The Division of Rehabilitation and Liquidation is responsible for performing the duties of the Department of Financial Services in the department's capacity as receiver. The basic responsibilities of the receiver include the collection of assets or debts due to the company and the evaluation of all known claims against the company. For more information on the responsibilities of a receiver, go to http://www.MyFloridaCFO.com/Receiver/ or call
1-877-MyFLCFO.

NTBAA
Immediate Final Order