Radey is an AV-rated firm consisting of lawyers who practice before state agencies and in all state and federal courts.
The Florida Supreme Court in American Optical Corporation v. Spiewak has invalidated legislation enacted by the legislature in 2005 designed to reduce asbestos related litigation in Florida. The legislature enacted the Asbestos and Silica Compensation Fairness Act to make significant changes to the cause of action for damages relating to exposure to asbestos. The Fourth […]
Each year, the legislature asks its committees to review significant issues and prepare reports in anticipation of the the next legislative session. This year is no different, and the Senate recently released its list of interim projects. Projects of the Banking & Insurance Committee can be seen in the attached document. Project 2012-11 will be […]
Insurers seeking to assume policies from Citizens Property Insurance Corporation understand the need to periodically obtain the most recent data from Citizens regarding its in-force policies. Likewise, a prospective investor group may be interested in obtaining the Citizens data to evaluate assumption opportunities and develop its business plan. Under updated procedures recently developed by Citizens, […]
The Florida Office of Insurance Regulation has issued an informational memorandum (OIR-11-05m) summarizing the minimum surplus requirements for property and casualty insurers as revised in SB 408. The bill was signed into law on May 17, 2011, and the surplus requirements became effective at that time. The new law specifies that a new insurer writing […]
The Division of Workers’ Compensation has issued 2 informational memoranda setting assessment rates for the 2012 calendar year. Workers’ Compensation Administration Trust Fund – DFS-02-2011 – The assessment rate for 2012 is 1.75%. Each year the Department estimates the amounts needed for the administration of Chapter 440, Florida Statutes. This figure takes into account the […]
The legislature passed HB 445 during the 2011 session creating an exception to unfair insurance trade practices statutes allowing health insurers and HMOs to offer rewards or incentives for wellness or health improvements. The incentives may take the form of merchandise, gift cards, debit cards, premium discounts, contributions to HSAs or similar items. Governor Rick […]
The Florida legislature passed HB 723 during the 2011 legislative session relating to reciprocity of workers’ compensation claims. Governor Rick Scott has signed the bill into law, and the new law takes effect July 1, 2011. By its terms, the law applies to any claim made on or after July 1, 2011, regardless of the […]
The insurance practice at Radey Thomas Yon & Clark, P.A. has again been named a Top Tier Practice by Chambers USA. Chambers again cited the work of David Yon, Harry Thomas, and Travis Miller as key components of the firm’s strong presence in insurance law. Chambers mentions that RTYC “has a reputation for being able […]
In the last weeks of the 2011 legislative session, HB 1087 picked up a number of amendments that resulted in its becoming the insurance “train” bill for this year. Governor Scott has now signed this bill into law. Most of its provisions become effective July 1, 2011, although some provisions are effective immediately. For a summary […]
Governor Rick Scott has signed HB 99 into law, reducing Florida’s regulation of commercial insurance rates. In 2010, the legislature amended section 627.062 to provide that limited types of commercial insurance rates are not subject to prior regulatory approval. Instead, insurers writing the listed types of products can implement rate changes subject to a notice […]
