Florida Developments

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As one of his first actions upon taking office in January 2007, Florida Governor Charlie Crist asked the state legislature to increase the state’s hurricane catastrophe fund.  Crist’s initiative was designed to lower insurers’ costs, and insurers, which bought reinsurance from the state, were supposed to pass their savings on to policyholders. 

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Read More Governor Crist Assembles Trial Team To Review Insurers’ Compliance With Rate Reform

Florida’s Office of Insurance Regulation (OIR) has announced that it has settled its differences with Universal Health Care Insurance Company (UHCIC) through a consent order.  UHCIC had previously commenced numerous court actions to fend off receivership proceedings. 

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Read More Florida Regulators Reach Settlement with Universal Health Care Insurance Company

In Shenandoah Chiropractic, P.A. v. National Specialty Ins. Co., 2007 WL 4276531 (S.D. Fla. Dec. 3, 2007), the United States District Court for the Southern District of Florida recently dismissed a class action complaint, seeking declaratory relief and alleging breach of contract in relation to a claim for Personal Injury Protection  (“PIP”) benefits. 

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Read More Federal District Court Dismisses PIP Class Action Suit

As we previously discussed here, the move to change the rules governing collateral requirements for foreign reinsurers has been gaining momentum in a number of U.S. states.  New York started the trend last October, when its Superintendent of Insurance, Eric Dinallo, introduced a draft regulation that seeks to eliminate the existing collateral requirements imposed on foreign and alien reinsurers operating in New York. …
Read More Florida to Change Foreign Reinsurer Collateral Requirements

As of January 1, 2008, the workers’ compensation rate in the State of Florida will decrease by 18.4%.  On October 22, 2007, Florida Insurance Commissioner McCarty requested the National Council on Compensation Insurance make an amended filing to increase the originally proposed 16.5% reduction, as previously reported about here.  Commissioner McCarty believes the rate reduction will save Florida employers over $700 million.  To view a copy of the press release, click here. 

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Read More Florida Workers’ Compensation Rate Decrease Approved

In Transportation Insurance Company v. The Regency Roofing Companies, Inc., C.A. No. 05-80830 (S.D. Fla. Oct. 2, 2007), the United States District Court for the Southern District of Florida recently ruled that the “known loss” exclusion in a commercial general liability (“CGL”) policy did not preclude coverage for mold related injuries that arose from the insured’s faulty roof installation and repair. 

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Read More Federal District Court Holds “Known Loss” Exclusion Does Not Apply to Mold Damage Resulting From Faulty Roof Repair

In Garcia v. Federal Ins. Co., No. SC06-2524 (Fla. Oct. 25, 2007), on two questions certified by the Eleventh Circuit, the Florida Supreme Court recently held that an employer’s insurance policy was not ambiguous and that it covered an employee, as an additional insured, only when the employee was vicariously liable for her employer’s conduct. 

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Read More Coverage for Additional Insured Limited to Vicarious Liability

In the wake of New York Superintendent Eric Dinallo’s announcement that New York was changing the rules surrounding collateral requirements for foreign reinsurers, it was reported last week that several other U.S. states are contemplating similar changes. 

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Read More Other States Contemplate Following N.Y.’s Lead to Change Foreign Reinsurer Collateral Requirements

US law firm Edwards Angell Palmer & Dodge LLP (“EAPD”) and Kendall Freeman of London today announced a plan to merge effective January 1, 2008. 

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Read More Merger Plans Announced Between Edwards Angell Palmer & Dodge LLP and Kendall Freeman of London