Rescue Efforts Fell Short for Gulfstream Insurance
Plagued by worsening financial issues and under pressure from credit rating agencies, Gulfstream Property and Casualty Insurance Co. entered the first months of 2021 determined to increase its capital contributions.
The Sarasota-based personal residential insurer had just come off a bleak 2020 calendar year and was struggling to maintain the minimum $10 million surplus.
Gulfstream believed it had finally found an adequate investor by early 2021. The suitor had approximately $3 billion in assets and was deep in due diligence with the Sarasota-based residential insurer when disaster struck. Severe winter storms hit the south-central region, where the company has thousands of policies in Texas and Louisiana. Gulfstream, which also operates in Florida, Alabama, Mississippi and South Carolina, was forced to demand higher required contributions. The suitor pulled out.
Applied Underwriters Acquires Generali s U S Specialty Lines Division insurancejournal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from insurancejournal.com Daily Mail and Mail on Sunday newspapers.
This week we take a look at a potentially deceptive and misleading billing practice which may be used by retailers generally, and by travel sellers in particular.
This week we take a look at a potentially deceptive and misleading billing practice which may be used by retailers generally, and by travel sellers in particular. This practice is known variously as “opt-out sales practices” or billing charges made “on an automatically-renewing continuing monthly basis without adequate notice or consent”. Judicial scrutiny of this annoying sales practice has arisen within the context of the sale of travel insurance [see Matter of Frankel v. Citicorp Insurance Services, 80 A.D. 3d 280 (N.Y.A.D. 2010)] and in-flight Wi-Fi services [see Berkson v. Gogo LLC., 2015 WL 1600755 (E.D.N.Y. 2015)]. In addition to the propriety of opt-out sales practices in the travel industry, these cases also raise issues regarding the enforceability of mandatory arbitration, forum selection and choice of l
7/6/2021
The State of Florida Issues Tropical Storm Elsa Updates
Governor Ron DeSantis is in constant communication with Florida Division of Emergency Management (FDEM) Director Kevin Guthrie as the State of Florida continues to monitor and respond to the threat of Tropical Storm Elsa.
Today, Governor DeSantis held two press conferences regarding Tropical Storm Elsa at the State Emergency Operations Center with Florida Division of Emergency Management (FDEM) Director Kevin Guthrie. Full remarks from this morning s press conference are available here. The evening press conference is available below.
Current forecasts project Tropical Storm Elsa will make landfall in the eastern Big Bend of Florida or Nature Coast north of Tampa Bay early tomorrow morning, July 7. Elsa is now forecast to become a hurricane before making landfall in Florida. The Florida Keys are currently experiencing tropical storm strength winds and rainfall. The storm remains lopsided with nearly all wind, rain
20210707 The State of Florida Issues Tropical Storm Elsa Updates floridadisaster.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from floridadisaster.org Daily Mail and Mail on Sunday newspapers.