Please Join Us for a Locke Lord Webinar – Dissecting the Amendments to Florida’s Viatical Settlement Act – December 20
You are invited to a Complimentary Webinar for Clients and Friends of Locke Lord LLP
Read MoreTopic: Florida Developments
2017 Hurricane Season the Costliest on Record
The 2017 United States Atlantic hurricane season, which officially ended on November 30, was the most expensive ever according to one report. Disaster modelers Chuck Watson and Mark Johnson concluded that total damages for the season, which included Hurricanes Harvey, Irma and Maria, topped $202 billion.
Read MoreThe Pruco Florida Supreme Court decision has been legislatively reversed by a recent amendment to the Florida Viatical Settlement Act
The Florida Supreme Court Pruco advisory opinion, Wells Fargo Bank, N.A. v. Pruco Life Ins. Co., 200 So. 3d at 1203 & 1206-07, to the United States Eleventh Circuit Court of Appeals held that an insurer may not challenge the...
Read MoreNew Notice Requirement for Insurers under Florida’s Viatical Settlement Act
Florida has recently adopted amendments to its Viatical Settlement Act. One of the new provisions, Section 626.99292 Notice to life insurance policyholders, provides: “(1) A life insurer shall provide an individual life...
Read MoreFlorida may have outlawed the secondary sale of policies if at any time during the five year period post issuance there was a loan secured by the policy
Florida has recently adopted amendments to its Viatical Settlement Act. One of the new provisions, Section 626.99287 Contestability of viaticated policies, provides as follows: (2) Except as hereinafter provided [certain life...
Read MoreFlorida may have outlawed legitimate premium finance lending
Florida has recently adopted amendments to its Viatical Settlement Act. One of the new provisions, Section 626.9911 (9), defines a prohibited stranger-originated life insurance practice as: (9) “Stranger-originated life...
Read MoreMind the Gap! Hurricanes may have significant impact on Gap coverage
Some estimates peg the number of cars flooded by Hurricane Harvey at more than a half million. So too, the number of flooded cars following Irma will be legion.
Read MoreFlorida Governor Scott Orders Freeze on Property and Casualty Rate Increases
On Tuesday, September 12th, Florida Governor Rick Scott directed Insurance Commissioner David Altmaier to “freeze any and all efforts” to increase property insurance rates.
Read MoreSenate Passes Bill Proposing Three Month NFIP Extension
On Friday, September 7th, the Senate passed a bill increasing the disaster aid within the National Flood Insurance Program (the “NFIP”) to $15 billion.
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