Insurance

Protecting Florida's Corporate Officers as D&O Suits Increase

Tuesday, October 28, 2008 by Megan M. Grant

Directors and officers face increasing liability created by corporate laws that continue to expand their duties and shareholder rights.  This move to increase accountability of officers and directors was largely initiated by the Sarbanes-Oxley Act, which was signed into law in 2002 to overhaul corporate governance requirements, federal disclosure laws and oversight of public accounting firms.  Sarbanes-Oxley requires CEOs and CFOs to certify the accuracy of periodic reports containing ... Read More
Posted at 13:34 PM  |  PERMALINK
Topic: Insurance

CATASTROPHE RISK IN FLORIDA: Efforts To Manage The Unmanageable

Tuesday, October 28, 2008 by Richard J. Fidei

In the wake of two tumultuous storm seasons, Florida has experienced the significant growth of both its state-backed insurer and reinsurance fund.  This article briefly summarizes the major legislative, regulatory, and market developments in Florida’s property insurance industry over the past four years.  It is also intended to highlight the state’s metamorphosis into a full-fledged market competitor and the deliberate steps the state took in making that transition. ... Read More

Posted at 13:01 PM  |  PERMALINK
Topic: Insurance

Florida Insurance Commissioner and Allstate Resolve Pending Litigation, Company to Expand Writing Homeowners Insurance in Florida

Tuesday, October 28, 2008 by Richard J. Fidei

Richard J. Fidei, Esq., a partner at Colodny, Fass, Talenfeld, Karlinsky & Abate, represents insurance and reinsurance companies, brokers and other related entities in transactional and corporate matters, as well as in claim and dispute resolution proceedings. His practice includes start-up activities, structuring and financing, vendor relationships, regulatory issues, and court proceedings, inclu... Read More
Posted at 12:44 PM  |  PERMALINK
Topic: Insurance

Credit Scoring Methodologies No Longer Confidential in Florida As of October 2

Tuesday, October 28, 2008 by Richard J. Fidei


The Florida Office of Insurance Regulation ("OIR") has advised Florida property and casualty insurers that state laws governing public records exemptions for credit scoring methodologies expire on October 2, 2008.  Rich Fidei, Partner; Colodny, Fass, Talenfeld, Karlinsky & Abate.

... Read More

Posted at 12:44 PM  |  PERMALINK
Topic: Insurance

Florida Department of Revenue: Bonuses should be excluded from insurers' salary tax credit calculations

Tuesday, October 28, 2008 by Erin T. Siska

Recently, during routine audits of insurers by the Florida Department of Revenue of Revenue (“DOR”), the DOR has found at least a dozen insurers which have been including executive bonuses as part of their salary tax credit calculations. These insurers have been assessed for certain past due taxes related to such calculations, as it is the DOR’s position that bonuses should be excluded from insurers’ salary tax credit calculations. Insurers who have not yet been audited b... Read More
Posted at 12:34 PM  |  PERMALINK
Topic: Insurance

Fred Karlinsky Comments in the Miami Herald on the Oct. 24 Landmark Florida Supreme Court Workers' Comp Ruling

Tuesday, October 28, 2008 by Fred E. Karlinsky

Fred Karlinsky of Colodny, Fass, Talenfeld, Karlinsky & Abate comments on Florida Workers' Compensation in The Miami Herald... Read More
Posted at 12:12 PM  |  PERMALINK
Topic: Insurance

Answers To Top Questions on Florida's New Reinsurance Collateral Rule

Tuesday, October 28, 2008 by Richard J. Fidei

During September, 2008, the Florida Cabinet adopted a potentially far-reaching Rule providing for an alternative ratings-based approach to the State’s reinsurance collateral requirement enabling ceding insurers to take credit for reinsurance. In essence, the new Rule provides for lower collateral requirements for certain reinsurers that are determined to be "eligible" by the Florida Insurance Commissioner after an application process. These requirements will be based upon insurer... Read More
Posted at 12:01 PM  |  PERMALINK
Topic: Insurance

Protecting yourself and your legal rights prior to filling an insurance claim.

Thursday, October 16, 2008 by Edward H. Zebersky

Before you contact your local lawyer or a Hollywood Florida insurance lawyer, it is important to know what you should do to protect your legal rights and ensure the safety of your family before a disaster, such as a hurricane, hits.

... Read More
Posted at 09:42 AM  |  PERMALINK
Topic: Insurance
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