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HTMLNAIC Releases 2014 Insurance Department Resources Report--Volume Two
Colodny Fass P.A.;
Legal Alert/Article
August 5, 2015, previously published on August 4, 2015
The National Association of Insurance Commissioners ("NAIC") released the second volume of the 28th edition of the Insurance Department Resources Report ("IDRR") today, August 4, 2015.

 

HTMLJeep Hack Drives Cyber, Crisis, Liability and Supply Chain Coverage Issues
Joseph F. Bermudez; Wilson Elser Moskowitz Edelman & Dicker LLP;
Legal Alert/Article
August 5, 2015, previously published on July 27, 2015
A recall notice to fix critical control software on 1.4 million vehicles should raise concerns for companies, brokers and insurers across several business lines. The vulnerability of vital control systems to a remote hacking threat is a significant exposure that raises concerns for many industries...

 

HTMLInsurer Civil Remedy Bill (HB 5) Filed For 2016 Florida Legislative Session Would Provide Bad Faith Immunity For 45-Day Settlement Window
Colodny Fass P.A.;
Legal Alert/Article
August 5, 2015, previously published on August 4, 2015
Filed by State Representative Mike Hill yesterday, August 3, 2015, HB 5 Relating to Civil Remedies Against Insurers would revise Florida's insurance laws relating to bad faith by providing a 45-day window in which insurers would be able to make payment offers and not be potentially liable for bad...

 

HTMLPennsylvania Supreme Court Holds That an Insurer Defending Under a Reservation of Rights Must Reimburse an Insured for an Unconsented-To Settlement So Long as the Settled Claim Is Covered and the Settlement Is Fair and Reasonable
John J. Hare, R. Bruce Morrison; Marshall Dennehey Warner Coleman & Goggin, P.C.;
Legal Alert/Article
August 5, 2015, previously published on July 23, 2015
The Pennsylvania Supreme Court has ruled in a 3-2 decision that an insurer defending under a reservation of rights must reimburse an insured for a tort settlement paid by the insured, despite the insurer’s lack of consent to the settlement, if the claim is covered by the policy and the...

 

HTMLFlorida Governor Rick Scott Orders Examination of Medicaid Insurer, Hospital Contracts
Colodny Fass P.A.;
Legal Alert/Article
August 5, 2015, previously published on August 3, 2015
Florida Governor Rick Scott sent Florida Agency for Health Care Administration ("AHCA") Secretary Liz Dudek a letter today, August 3, 2015, in which he asked AHCA to take immediate action with hospitals and insurance companies that have failed to certify that their contractual agreements...

 

HTMLU.S. Collaboration on International Insurance Capital Standards Could Be Enhanced, Government Accountability Office Reports
G. Donovan Brown; Colodny Fass, P.A.;
Legal Alert/Article
August 5, 2015, previously published on August 3, 2015
With large, internationally active insurance companies accounting for 28 percent of the aggregate insurance premiums underwritten in the United States in 2014, the U.S. Government Accountability Office ("GAO") was asked to review the international group-level insurance capital standards...

 

HTMLNational Association of Insurance Commissioners' Sharing Economy Working Group Reviews Home-Sharing Issues, Benchmark Florida Legislation
G. Donovan Brown; Colodny Fass, P.A.;
Legal Alert/Article
August 5, 2015, previously published on July 23, 2015
There had been no known state-level precedent anywhere in the nation for home-sharing legislation at the time that SB 1298 was filed in Florida, Colodny Fass Shareholder Donovan Brown told California Commissioner Dave Jones and other regulators during the National Association of Insurance...

 

HTMLFlorida Office of Insurance Regulation Updates NAIC Annual and Quarterly Reporting Requirements, Financial Condition Examiners Handbook
Colodny Fass P.A.;
Legal Alert/Article
August 4, 2015, previously published on July 29, 2015
Revisions to two Rules relating to National Association of Insurance Commissioners ("NAIC")-prescribed procedures adopted by the Florida Office of Insurance Regulation ("OIR") became effective yesterday, July 28, 2015.

 

HTMLFederal Advisory Committee on Insurance Expands Maximum Number of Members to 25
G. Donovan Brown; Colodny Fass, P.A.;
Legal Alert/Article
August 4, 2015, previously published on July 17, 2015
Membership of the Federal Advisory Committee on Insurance ("FACI") has been expanded from 21 members to up to 25 members, the U.S. Treasury announced today, July 17, 2015, in a notice that also advised the FACI charter has been renewed for a two-year period that began last week on July 8.

 

HTMLFlorida Office of Insurance Regulation Begins Insurance Holding Company Supervision Rule Development
Colodny Fass P.A.;
Legal Alert/Article
August 4, 2015, previously published on July 27, 2015
Rulemaking relating to insurance holding companies and acquisitions of entities regulated by the Florida Insurance Code has been initiated by the Florida Office of Insurance Regulation ("OIR").

 


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