By Barbara Liston ORLANDO Fla. (Reuters) - As Florida seeks to revive its private home insurance market after almost a decade without a hurricane, homeowners are pouring $6 billion a year in premiums into a new generation of small, in-state insurance companies with an unproven record of withstanding a major hurricane. A consumer-oriented rating agency, Weiss Rating, recently awarded the companies a median grade of C-minus, and even without a major storm to drive up claims, 11 of them have already failed in Florida since 2006, according to state records. “This is an accident waiting to happen," said Gavin Magor, senior financial analyst with Weiss, a national agency with a reputation for tough ratings based in Jupiter, Florida. Responding to the Weiss ratings, Robert Hartwig, president of the Insurance Information Institute, a trade association, said all the companies meet state regulations, noting that other rating agencies gave higher grades.
HONOLULU (AP) — In Hawaii's popular Waikiki neighborhood — a renowned destination for surfing and mai tais — people were lying down near the entrance to Macy's, human waste was on the sidewalk, and parents had to explain to their children why people were begging for money.
FLAGSTAFF, Ariz. (AP) — Chris Deschene says he has the resume to preside over the country's largest American Indian reservation. He's a graduate of the U.S. Naval Academy, served in the Marines, owns a private law practice, and aims to defend tribal tradition in the Navajo Nation's top elected post.