Sandy P. Fay Law Blog

The law and governmental consulting firm of Colodny, Fass, Talenfeld, Karlinsky and Abate announced on May 11, 2012 that it has named founding partner Mike Colodny as Managing Partner. 

Mr. Colodny, who founded the Firm in the mid-1970s with Joel Fass and Howard Talenfeld, successfully developed it into its current prominence in the areas of commercial litigation, insurance regulatory law and governmental consulting.  He... Read More

Saying that its members have a duty to protect their constituents from possible insurer abuse through the use of credit-scoring practices, The National Conference of Insurance Legislators ("NCOIL") issued a letter to the National Association of Insurance Commissioners ("NAIC") reminding state regulators that, after "two years of special sessions, model drafts, and many hours of debate with all key players," its "Model Act Regarding Use of Credit Information in... Read More

Saying that its members have a duty to protect their constituents from possible insurer abuse through the use of credit-scoring practices, The National Conference of Insurance Legislators ("NCOIL") issued a letter to the National Association of Insurance Commissioners ("NAIC") reminding state regulators that, after "two years of special sessions, model drafts, and many hours of debate with all key players," its "Model Act Regarding Use of Credit Information in... Read More

Moody's Investor Service and Standard and Poor's Rating Service have issued negative outlook rating reports for Citizens Property Insurance Corporation ("Citizens") and its upcoming issuance of $2.5 billion in Series 2009A and Series 2009A-2 bonds... Read More

The Florida Office of Insurance Regulation issued an Order on March 20, 2009, approving the issuance of High-Risk Account Senior Secured Bonds, Series 2009, by Citizens Property Insurance Corporation ("Citizens") in an aggregate principal amount not exceeding $2,500,000,000 (the "Series 2009 Bonds").  With authorization from its Board of Governors, Citizens may issue the Series 2009 Bonds in one or more series, but, according to the Order, must do so before... Read More

The Florida Office of Insurance Regulation ("OIR") published its third annual "Freedom to Travel" Report on March 3, 2009.  The Report documents instances during 2009 under which applicants were denied life insurance, refused continuance, or had coverage limited based on future travel plans.  It also outlines the number of insurers taking such action and their rationale.... Read More

A Notice of Change has been issued for proposed Rule 690-138.005 (4) "Examination of Insurers" subsequent to public testimony at a Florida Office of Insurance Regulation ("OIR") public hearing on November 12, 2008 and concerns previously raised by the Joint Administrative Procedures Committee ("JAPC").

To view a draft of the amended Rule, click Read More

Florida Insurance Commissioner Approves Another Round of Policy Removals From Citizens Property Insurance Corp.

TALLAHASSEE, Fla. - Florida Insurance Commissioner Kevin McCarty today (November 13, 2008) announced the removal of up to 110,000 policies from Citizens Property Insurance Corp. (Citizens) beginning Nov. 14. Six companies, named below, are involved with this round of removals.  

Companies are approved by the office to... Read More