Insurance News

FAQ Regarding Interpretation of Insurance Contracts, Including Annuity Contracts – South Florida Insurance Litigation and Arbitration Attorney

Published on: December 21, 2013 | By Russell L. Forkey, P.A.

FAQ’s Relative to the Interpretation of all Types of Insurance Contracts, Including Variable and Fixed Annuity Insurance Contracts – Florida Insurance Litigation and Arbitration Attorney:

Florida law requires that insurance contracts are construed according to their plain meaning and, if a policy provision is clear and unambiguous, it should be enforced according to its terms. When a contract of insurance is subject to multiple interpretations, the policy language should be construed liberally in favor of the insured and strictly against the insurer as author of the contract.

If, as an insured, you make a claim which is denied by your insurance carrier, it is imperative that you contact qualified counsel to make sure that the denial is justified. This is especially ture where the policy provision is subject to multiple interpretations.

General Features of Indexed Annuities – South Florida Indexed Annuity Misrepresentation and Fraud Litigation and FINRA Arbitration Attorney

Published on: November 12, 2013 | By Russell L. Forkey, P.A.

Florida Indexed Annuity Fraud and Misrepresentation FINRA Arbitration and Litigation Attorney:

Prior to purchasing an indexed annuity, it is important that you understand various features contained in the annuity contract. Some of these items are set forth below. Please keep in mind that this information is being provided for educational purposes only. It is not designed to be complete in all material respects. Thus, it should not be relied upon as legal or investment advice. If you you have any questions concerning the below information, you should contact a qualified professional.

What are some of the contract features of indexed annuities?

FAQ’s About Indexed Annuities – Florida Indexed Annuity Fraud and Misrepresentation FINRA Arbitration and Litigation Attorney

Published on: November 12, 2013 | By Russell L. Forkey, P.A.

South Florida Indexed Annuity Fraud and Misrepresentation Litigation and FINRA Arbitration Attorney:

What is an indexed annuity?

An indexed annuity is a type of contract between you and an insurance company. During the accumulation period – when you make either a lump sum payment or a series of payments – the insurance company credits you with a return that is based on changes in a securities index, such as the S&P 500 Composite Stock Price Index. Indexed annuity contracts also provide that the contract value will be no less than a specified minimum, regardless of index performance. After the accumulation period, the insurance company will make periodic payments to you under the terms of your contract, unless you choose to receive your contract value in a lump sum.

FAQ’s Annuities – South Florida Fixed and Variable – Deferred and Immediate Annuity Fraud and Misrepresentation FINRA Arbitration and Litigation Attorney

Published on: November 10, 2013 | By Russell L. Forkey, P.A.

Florida Fixed and Variable – Deferred and Immediate Annuity – Fraud and Misrepresentation Litigation and FINRA Arbitration Attorney:

FAQ’s About Annuities:

An annuity is a contract or agreement with an insurance or investment company that provides a source of income or series of payments, from the investment either now or at a set future date, such as retirement. There are two basic types of annuities, deferred and immediate. Deferred annuities allow assets to grow tax-deferred over time before being converted to payments to the annuitant. Immediate annuities allow payments to begin within a year of purchase.

Post-Employment Restrictive Covenants – South Florida Restrictive Covenant Litigation and Arbitration Attorney

Published on: November 10, 2013 | By Russell L. Forkey, P.A.

Post-Employment Restrictive Covenants – Insurance and other Businesses:

This post provides a general discussion concerning post-employment restrictive covenants that may be found in employment agreements in the State of Florida. The statute governing this issue is Florida Statute 542.335.

Florida, by statute, has determined that post-employment restrictive covenant agreements are valid restraints of trade or commence under certain conditions. Specifically, section 542.335, Florida Statutes (2005), which took effect on July 1, 1996, contains a comprehensive framework for analyzing, evaluating and enforcing restrictive covenants contained in employment contracts. A violation of an enforceable restrictive covenant creates a presumption of irreparable injury. Section 542.335 employs the term “restrictive covenants” and includes all contractual restrictions such as noncompetition/nonsolicitation agreements, confidentiality agreements, exclusive dealing agreements, and all other contractual restraints of trade. If valid, a restrictive covenant may be enforced by way of temporary and permanent injunctive relief. § 542.335(1)(j), Fla. Stat. (2005).

Johan Mary-Lyn Akal – South Florida Insurance Fraud, Regulation, Misrepresentation and Negligence Litigation and Arbitration Attorney

Published on: November 10, 2013 | By Russell L. Forkey, P.A.

State of Florida Insurance Fraud, Regulation, Misrepresentation, and Negligence Litigation and Arbitration Attorney:

In the Matter of Johan Mary-Lyn Akal, Case No.: 140353-13-AG:

On September 20, 2013, the Florida Department of Financial Services (“Department”) issued a Consent Order against Johan Mary-Lyn Akal, which, in part, required the Respondent to surrender to the Department of Insurance all licenses issued to the Respondent pursuant to the Florida Insurance Code.

Charlotte Bredal Oliver – Florida Variable and Fixed Annuity, Life and Health Insurance Fraud and Misrepresentation Litigation and Arbitration Attorney

Published on: October 27, 2013 | By Russell L. Forkey, P.A.

Florida Variable and Fixed Annuity, Life and Health Insurance Fraud and Misrepresentation Attorney:

In the Matter of: Charlotte Bredal Oliver, Case No.: 140535-13-AG:

On September 20, 2013, the Florida Department of Financial Services (“Department”) issued a Consent Order against Charlotte Bredal Oliver, which, in part, required the Respondent to surrender to the Department all licenses issued to the Respondent pursuant to the Florida Insurance Code.

Matthew Watson Shaw Consent Order – South Florida Insurance and Variable Annuity Consumer Advocate Litigation and Arbitration Attorney

Published on: October 26, 2013 | By Russell L. Forkey, P.A.

Variable Annuity Misrepresentation – Florida Litigation and Arbitration Attorney:

In the Matter of: Matthew Watson Shaw, Administrative Case No: 139968-13-AG:

On September 4, 2013, the Florida Department of Financial Services entered a Consent Order against Matthew Watson Shaw, which was based upon a Settlement Agreement for Consent Order dated August 9, 2013. In the Consent Order, the Respondent’s licensure and eligibility for licensure as an insurance agent within the State of Florida was surrendered to the Department.

A and D Insurance Consent Order – South Florida Insurance Fraud, Mismanagement and Theft Litigation Attorney

Published on: October 26, 2013 | By Russell L. Forkey, P.A.

In the Matter of A & D Insurance, Administrative Case No. 132225-13-AG.

On April 10, 2013, the Department issued a Consent Order against A & D Insurance, which provided in relevant part, that the respondent surrender to the Department is agency registration.

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Florida Insurance News and Enforcement Actions – Florida Insurance Fraud, Mismanagement and Breach of Fiduciary Duty Litigation and Arbitration Attorney

Published on: October 26, 2013 | By Russell L. Forkey, P.A.

The Florida Department of Insurance:

The mandate of the Florida Department of Insurance is to ensure that insurance companies licensed to do business in Florida are financially viable, operating within the laws and regulations governing the insurance industry; and offering insurance policy products at fair and adequate rates which do not unfairly discriminate against the buying public.

As part of its responsibility, the Florida Department of Insurance may elect to bring an enforcement action against those companies and licensed agents who it believes may be operating in violation of the laws and regulations governing the insurance industry.