Fla. High Court Takes Flexible View Of Self-Insured Retentions

Law360, New York (February 6, 2014, 5:24 PM EST) -- The Florida Supreme Court held Thursday that indemnification payments from a third party could count toward a policyholder's self-insured retention, siding against General Fidelity Insurance Co. in a dispute stemming from a contractor's $1.6 million settlement of an injury claim.

Answering questions sent over by the Eleventh Circuit, the state high court held that the $1 million that a subcontractor's insurer paid to Intervest Construction of Jax Inc. and ICI Homes Inc., which ultimately went to the underlying plaintiff, satisfied ICI's $1 million self-insured retention under...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.