Welcome!

News Feed Item

Zurich Insurance Group Faces Suspension of Business Operations in Florida Over Non-payment of Outstanding Attorneys' Fees and Costs, says Searcy Denney

Searcy Denney and FalconTrust Win Court Order Forcing State Regulator to Take Action

WEST PALM BEACH, Fla., Jan. 27, 2014 /PRNewswire/ -- South Florida law firm Searcy Denney Scarola Barnhart & Shipley, PA (Searcy Denney) announced that, on behalf of its client FalconTrust Group, Inc., a suit has been filed directing the Florida Office of Insurance Regulation (OIR) to revoke certificates of authority issued to Zurich U.S. and related entities unless Zurich adequately responds within 20 days of the date of service.

According to the ruling issued on January 6, 2014 by Florida's 2nd Judicial Circuit Court in Leon County, Zurich must show good cause why, pursuant to state statutory mandates, the Court should not issue a Writ of Mandamus directing the OIR to revoke Zurich's current licenses, and to not issue new certificates of authority. At issue is Zurich's continuing failure to pay the legal fees and expenses in a related case in which Zurich was found to have breached a multi-million dollar commission agreement with FalconTrust.

If Zurich fails to show good cause – or to meet all its obligations incurred as a result of FalconTrust's lawsuit – the company and its affiliates will be precluded from doing business in the state of Florida. Searcy Denny's Complaint seeking the Writ of Mandamus was filed on December 20, 2013 in FalconTrust Group, Inc. v. Florida Office of Insurance Regulation, Zurich U.S., et al. (Case No.: 2013 CA 003541).

The underlying case, FalconTrust Group, Inc. v. Zurich U.S., et al. (Case No. 07-06199 CA 40), originated in early 2007 when FalconTrust sued Zurich for not paying commissions due FalconTrust. Following an eight-day jury trial in December 2010, the jury concluded that FalconTrust was entitled to $7,592,029.00 in commissions. The award was set-off by monies previously deducted by FalconTrust, and on January 10, 2012, the court entered final judgment in favor of FalconTrust for $1,961,695.85.

On September 28, 2012, the trial court also granted FalconTrust's motion for attorneys' fees and costs. It is those fees and costs that have remained outstanding beyond the allowable time limits stipulated by the applicable statute. Zurich paid the judgment itself in October 2013, but failed to pay the associated attorneys' fees and costs. The time limit stipulated by Florida law for payment of the associated fees and costs has now elapsed.

"We thank the Court for its faithful adherence to the letter and spirit of the statute," said attorney Jack Scarola, the Search Denney name-shareholder who represents FalconTrust. "They've sent a clear message, that the most powerful insurers in the market must also meet their obligations under the law."

Related companies subject to the court-ordered suspension include Zurich American Insurance Company, Zurich American Insurance Company of Illinois, American Zurich Insurance Company, and American Guarantee and Liability Insurance Company.

For further information, contact Justin Wilson at 202.973.1324 or [email protected].

About Searcy Denney Scarola Barnhart & Shipley, PA
A nationally recognized trial law firm, Searcy Denney Scarola Barnhart & Shipley, P.A. is committed to protecting victims of negligence, defective products and corporate wrongdoing. Over the past 35 years, the firm has represented clients in courtrooms throughout Florida and across the nation.

SOURCE Searcy Denney Scarola Barnhart & Shipley, PA

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor – all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
"This week we're really focusing on scalability, asset preservation and how do you back up to the cloud and in the cloud with object storage, which is really a new way of attacking dealing with your file, your blocked data, where you put it and how you access it," stated Jeff Greenwald, Senior Director of Market Development at HGST, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busin...
"We formed Formation several years ago to really address the need for bring complete modernization and software-defined storage to the more classic private cloud marketplace," stated Mark Lewis, Chairman and CEO of Formation Data Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
There will be new vendors providing applications, middleware, and connected devices to support the thriving IoT ecosystem. This essentially means that electronic device manufacturers will also be in the software business. Many will be new to building embedded software or robust software. This creates an increased importance on software quality, particularly within the Industrial Internet of Things where business-critical applications are becoming dependent on products controlled by software. Qua...
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2016 Silicon Valley. The 19th Cloud Expo and 6th @ThingsExpo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Interne...
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
Redis is not only the fastest database, but it is the most popular among the new wave of databases running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 19th Cloud Expo, Dave Nielsen, Developer Advocate, Redis Labs, will share the functions and data structures used to solve everyday use cases that are driving Redis' popularity.
Predictive analytics tools monitor, report, and troubleshoot in order to make proactive decisions about the health, performance, and utilization of storage. Most enterprises combine cloud and on-premise storage, resulting in blended environments of physical, virtual, cloud, and other platforms, which justifies more sophisticated storage analytics. In his session at 18th Cloud Expo, Peter McCallum, Vice President of Datacenter Solutions at FalconStor, discussed using predictive analytics to mon...
Most organizations prioritize data security only after their data has already been compromised. Proactive prevention is important, but how can you accomplish that on a small budget? Learn how the cloud, combined with a defense and in-depth approach, creates efficiencies by transferring and assigning risk. Security requires a multi-defense approach, and an in-house team may only be able to cherry pick from the essential components. In his session at 19th Cloud Expo, Vlad Friedman, CEO/Founder o...
"We host and fully manage cloud data services, whether we store, the data, move the data, or run analytics on the data," stated Kamal Shannak, Senior Development Manager, Cloud Data Services, IBM, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. Commvault can ensure protection, access and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his general session at 18th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Part...
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develo...
SYS-CON Events announced today that MangoApps will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device.