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
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
SYS-CON Events announced today that Numerex Corp, a leading provider of managed enterprise solutions enabling the Internet of Things (IoT), will exhibit at the 19th International Cloud Expo | @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Numerex Corp. (NASDAQ:NMRX) is a leading provider of managed enterprise solutions enabling the Internet of Things (IoT). The Company's solutions produce new revenue streams or create operating...
While DevOps promises a better and tighter integration among an organization’s development and operation teams and transforms an application life cycle into a continual deployment, Chef and Azure together provides a speedy, cost-effective and highly scalable vehicle for realizing the business values of this transformation. In his session at @DevOpsSummit at 19th Cloud Expo, Yung Chou, a Technology Evangelist at Microsoft, will present a unique opportunity to witness how Chef and Azure work tog...
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
I'm a lonely sensor. I spend all day telling the world how I'm feeling, but none of the other sensors seem to care. I want to be connected. I want to build relationships with other sensors to be more useful for my human. I want my human to understand that when my friends next door are too hot for a while, I'll soon be flaming. And when all my friends go outside without me, I may be left behind. Don't just log my data; use the relationship graph. In his session at @ThingsExpo, Ryan Boyd, Engi...
SYS-CON Events announced today that Secure Channels 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. The bedrock of Secure Channels Technology is a uniquely modified and enhanced process based on superencipherment. Superencipherment is the process of encrypting an already encrypted message one or more times, either using the same or a different algorithm.
The vision of a connected smart home is becoming reality with the application of integrated wireless technologies in devices and appliances. The use of standardized and TCP/IP networked wireless technologies in line-powered and battery operated sensors and controls has led to the adoption of radios in the 2.4GHz band, including Wi-Fi, BT/BLE and 802.15.4 applied ZigBee and Thread. This is driving the need for robust wireless coexistence for multiple radios to ensure throughput performance and th...
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, will discuss the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports. The session will include a working demo and a technical d...
SYS-CON Events announced today the Enterprise IoT Bootcamp, being held November 1-2, 2016, in conjunction with 19th Cloud Expo | @ThingsExpo at the Santa Clara Convention Center in Santa Clara, CA. Combined with real-world scenarios and use cases, the Enterprise IoT Bootcamp is not just based on presentations but with hands-on demos and detailed walkthroughs. We will introduce you to a variety of real world use cases prototyped using Arduino, Raspberry Pi, BeagleBone, Spark, and Intel Edison. Y...
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
If you’re responsible for an application that depends on the data or functionality of various IoT endpoints – either sensors or devices – your brand reputation depends on the security, reliability, and compliance of its many integrated parts. If your application fails to deliver the expected business results, your customers and partners won't care if that failure stems from the code you developed or from a component that you integrated. What can you do to ensure that the endpoints work as expect...
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
SYS-CON Events announced today that China Unicom 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. China United Network Communications Group Co. Ltd ("China Unicom") was officially established in 2009 on the basis of the merger of former China Netcom and former China Unicom. China Unicom mainly operates a full range of telecommunications services including mobile broadband (GSM, WCDMA, LTE F...
Enterprise IT has been in the era of Hybrid Cloud for some time now. But it seems most conversations about Hybrid are focused on integrating AWS, Microsoft Azure, or Google ECM into existing on-premises systems. Where is all the Private Cloud? What do technology providers need to do to make their offerings more compelling? How should enterprise IT executives and buyers define their focus, needs, and roadmap, and communicate that clearly to the providers?