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HTMLFlorida's Citizens Property Insurance Board of Governors Approves Up to $1 Billion in Coastal Account Liquidity Financing
Colodny Fass P.A.;
Legal Alert/Article
April 17, 2015, previously published on April 7, 2015
At its meeting this morning, April 7, 2015, Citizens Property Insurance Corporation's ("Citizen's") Board of Governors ("Board") approved the issuance of up to $1 billion of Coastal Account Senior Secured Bonds, Series 2015A ("Series 2015A") as part of its ongoing...

 

HTMLTexas Department of Insurance Mandatory Data Call for First Quarter Experience Due May 15, 2015
Colodny Fass P.A.;
Legal Alert/Article
April 17, 2015, previously published on April 7, 2015
The Texas Department of Insurance ("TDI") advised today, April 7, 2015, that it has issued a mandatory data call for First Quarter Experience under Texas Insurance Code Sections 2251.003, 2251.008, and 38.001 to all insurance companies, corporations, exchanges, mutuals, reciprocals,...

 

HTMLNational Association of Insurance Commissioners (NAIC) 2015 Spring National Meeting Highlights
Colodny Fass P.A.;
Legal Alert/Article
April 17, 2015, previously published on April 6, 2015
With nearly a dozen new insurance commissioners or acting commissioners being welcomed as the newest members, the National Association of Insurance Commissioners ("NAIC") convened in Phoenix, Arizona during March 28-31 for its 2015 Spring National Meeting.

 

HTMLInsurance Electronic Notice, Four-Vehicle Policy Bills Now Ready For Governor's Consideration
Colodny Fass P.A.;
Legal Alert/Article
April 17, 2015, previously published on April 2, 2015
Two insurance-related bills are on their way to Florida Governor Rick Scott for consideration after the Florida House of Representatives' versions were each unanimously approved by the Senate on Third Reading yesterday, April 1, 2015.

 

HTMLMotion To Dismiss Not Suitable Means to Address Whether Insurer's Position Was Fairly Debatable, In This Action, And Was Therefore Denied (New Jersey Federal)
Fineman Krekstein Harris P.C.;
Legal Alert/Article
April 17, 2015, previously published on March 31, 2015
In Zodda v. National Union Fire Insurance Company, the insured pleaded bad faith, among other claims, for denial of benefits on a disability policy. The insured brought claims against multiple insurers, alleging an elaborate scheme in marketing the disability insurance at issue, and in denying...

 

HTMLColorado Division of Insurance Issues Regulation Regarding Appraisals
Gillian Dale, Malcolm S. Mead, Lisa F. Mickley, Rachel E. Yeates; Hall & Evans, L.L.C.;
Legal Alert/Article
April 16, 2015, previously published on March 20, 2015
To address industry concerns, the Colorado Division of Insurance recently revised Bulletin no. B-5.26, titled "Requirements Related to Disputed Claims Subject to Appraisal." The original Bulletin was addressed only to insurers and required appraisers and umpires to conduct appraisals in a...

 

HTMLFifth DCA Upholds Validity of Post-Loss Assignment of Insurance Benefits
Matthew C. Scarfone; Colodny Fass, P.A.;
Legal Alert/Article
April 16, 2015, previously published on April 10, 2015
The Fifth DCA issued an opinion today, April 10, 2015, in an appeal involving the validity of a post-loss assignment of homeowner's insurance benefits. The sole issue on appeal was whether section 627.405, Florida Statutes--known as the "insurable interest statute"--requires a post-loss...

 

HTMLUpdates to Florida Office of Insurance Regulation's Quarterly Supplemental Report Filing System Rated as a 'Substantial Improvement'
Colodny Fass P.A.;
Legal Alert/Article
April 16, 2015, previously published on April 7, 2015
To facilitate the electronic filing process for Florida residential property insurers, while keeping a high level of transparency for the consumer, the Florida Office of Insurance Regulation ("OIR") has revised its Quarterly Supplemental Reports ("QUASR") system.

 

HTMLWho Does an Insurance Broker Serve? Somebody!
Steven L. Young; Wilson Elser Moskowitz Edelman & Dicker LLP;
Legal Alert/Article
April 15, 2015, previously published on January 9, 2015
The year was 1979 when Bob Dylan’s song “Gotta Serve Somebody” was released on his album Slow Train Coming: “It may be the devil or it may be the Lord, but you’re gonna have to serve somebody.”

 

HTMLNotice-Prejudice Rule Does Not Apply to Claims-Made Policies
Gillian Dale, Malcolm S. Mead, Lisa F. Mickley, Rachel E. Yeates; Hall & Evans, L.L.C.;
Legal Alert/Article
April 15, 2015, previously published on March 20, 2015
There are two types of general liability insurance policies: those that provide coverage for an injury or event that occurs during the policy period ("occurrence policies") and those that provide coverage for claims made during the policy period ("claims-made policies"). Both...

 


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