Search
 

Surplus Lines Courting Trouble

Significant issues have arisen in Florida's surplus lines industry that have their genesis in two recent decisions by the Florida Supreme Court and the U.S. Court of Appeals for the 11th Circuit.

By Fred E. Karlinsky, Esq. | Updated on January 31, 2009

Significant issues have arisen in Florida’s surplus lines industry that have their genesis in two recent decisions by the Florida Supreme Court and the U.S. Court of Appeals for the 11th Circuit. Based upon these decisions, it appears an argument could be made that surplus lines insurers have to file their policy forms with the Florida Office of Insurance Regulation (OIR) and comply with other standards under Florida law that heretofore were not considered to be applicable to surplus lines insurers.

In the Essex Insurance Company v. Meriades Zota decision, the Florida Supreme Court addressed the issue of whether certain statutory provisions found in Chapter 627, Part II of the Florida Insurance Code applied to surplus lines insurers. These provisions related to the delivery of insurance policies and the award of attorney’s fees to plaintiffs under certain circumstances.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.