Lawyers.com Blog

Luxembourg - Investment Funds - Impact of the Madoff fraud case

nospam@example.com (Olivier Sciales) — Mon, 05 Jan 2009 16:57:58 -0500

The Luxembourg regulator (CSSF) has on 22 December 2008 issued a press release analysing the impact of the Madoff fraud case on the Luxembourg investment funds.

The CSSF noted that the impact on Luxembourg investment funds which are directly or indirectly exposed to the Madoff case amounts to 1.9 billion Euro which represents only 0.15% of the total net assets of undertakings of collective investment as at 30 November 2008. The CSSF furthermore noted that it does not imply that this amount is entirely lost but that it represents the maximum responsibility at stake.

Chevalier & Sciales is a Luxembourg law firm mainly focused on Investment Funds (UCITS and SIFs), Securitizations, Corporate Law and Private Equity. For more information please visit our website at www.cs-avocats.lu or contact Olivier Sciales at oliviersciales@cs-avocats.lu.

EVIDENCE, EVIDENCE, EVIDENCE

nospam@example.com (Robert I. Feinberg) — Mon, 05 Jan 2009 08:23:53 -0500

It is often said that the three most important factors in assessing the value of real estate are location, location, location. Well, the three most important factors in assessing the liability of a case are evidence, evidence, evidence.

What about hearsay – the biggest impediment to introducing evidence? Hearsay, as many of you know, is defined as an out of court statement offered to prove the truth of the matter asserted. That definition opens the door to exceptions and provides fertile grounds for the imaginative lawyer. The first consideration is that, for the most part, hearsay pertains to spoken words. (Non-verbal conduct intended as an assertion is, however, hearsay.) Observations of a testifying witness, therefore, are not hearsay. However, if those observations are instead introduced through a report, the report is itself hearsay.

How then does the aforementioned imaginative lawyer use exceptions? Statements of a party to a lawsuit are admissions of a party opponent and are admissible. (The Federal Rules of Evidence define admissions as non-hearsay but effectively the result is the same.) Other exceptions, numbering almost two dozen, are useful because, if properly used, will result in the admission in evidence of those out of court statements offered to prove the truth of the matter asserted.

Those exceptions, it seems to me (a personal injury attorney in Boston), are grounded in one enduring principle: they have an indicia of reliability such that the admission of such evidence has an element of trustworthiness. Hearsay has to come within an exception as the proffered statement, when made, was neither under oath nor subject to cross-examination.

Defining whether something is hearsay and whether the statement/declaration falls within an exception can be complex. A proper assessment can go a long toward determining whether your case is a winner.

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What are the consequences of driving on a suspended license due to a DUI?

nospam@example.com (Matthew J. Ruff) — Sun, 04 Jan 2009 11:23:03 -0500

In California the law imposes harsh penalties for being caught driving while your license has been suspended due to a DUI or drunk driving conviction. Vehicle Code section 14601.2 governs the area dealing with license suspension charges because of driving under the influence. Fortunately, a driving on suspended license attorney can offer guidance and sound legal advice to those facing a criminal charge of VC14601 and other offenses pertaining to the suspension of driving privileges.

Due to the pressures put forth by poliitically influential groups such as MADD and the insurance industry, California has enacted some of the most stringent laws and consequences for driving on a suspended license violations. The most severe of all the charges is the one that punishes those who continue to drive after the Court took their license away following a DUI conviction. A minimum of 10 days jail is required for a conviction of the statute and the Judge is also compelled to order that an ignition interlock device be installed on all vehicle registered to a convicted person.

A first offense driving on a suspended license charge (14601.2) in Los Angeles County are punishable by a fine of approximately $2000, 10 days in jail, and mandatory IID on all cars owned. Once again, it is important to emphasize that a lawyer can often negotiate a lesser charge or work a deal that does not require jail. Driving on suspended with priors becomes much more serious and a lawyer should certainly be hired to represent folks accused of this type of case.

The other thing to remember when dealing with driving on suspended license violations is that usually the individual cited will be on probation for the underlying charge (DUI, etc) and a plea of guilty or no contest will trigger a violation of probation and additional consequences.

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FERS & CSRS Disability Retirements: The Office of Personnel Management

nospam@example.com (Robert R. McGill) — Sat, 03 Jan 2009 21:17:40 -0500

I once heard a pastor make a rather unremarkable statement, but profound nevertheless in its simplicity and truth: "Where there are people, there are problems." To assume that an Agency will make a proper, objective and legally sufficient decision all the time, most of the time, or even more often than not, is probably asking too much. The Office of Personnel Management, as with any Agency, is an entity -- a large bureaucracy -- made up of "people". Yes, there are laws governing disability retirement; yes, there are rules, regulations and "criteria" which form the foundational basis for the "decision-making" part of evaluating each disability retirement case; but more profoundly, there are "people" who review, interpret, and apply those rules, regulations, and legal criteria in determining the final outcome: approval or disapproval of a claim. That is why it is important in "how" a case is presented, as much as "what" it is that is being presented. With people, there are personalities; with personalities, there are variances in how any given OPM person reviews a case and makes a decision, from one to another. Where an attorney can be most helpful, is to "elevate" a case out of being merely one case among many, to making a presentation of a case on three fundamental levels: (1) the seriousness of the medical condition, (2) the legal sufficiency of the disability retirement application, and (3) persuasion by argumentation that it would be a mistake -- a misapplication of the legal criteria -- to disapprove a disability retirement application. All in all, this comes down to one profound issue: Where there are people, there are problems; and where there are problems, it is often a good idea to make the best presentation possible, at the outset of a disability retirement case.

Sincerely,

Robert R. McGill, Esquire

When should I hire the services of a criminal defense attorney when I am suspected of wrongdoing?

nospam@example.com (Matthew J. Ruff) — Sat, 03 Jan 2009 14:15:24 -0500

It is a common question of people who are being investigated by the police. The answer to the question depends much on what level of risk a particular peson is accustomed to. Many individuals are gamblers and roll the dice when it comes to their future, taking a chance with being arrested and charged with a crime is reckless and often turns out badly for those who bury their head in the sand and hope that things will just go away.

Having a lawyer familiar with criminal investigations on your side early on in the investigation of the case can provide a litany of advantages. A lawyer can contact law enforcement regarding your case. However, law enforcement is not required to speak with your attorney and may choose to not discuss the allegations. Furthermore, governmental officials can take whatever actions the law permits (including detention, arrest or filing of charges) with or without your attorney’s knowledge or prior approval. A suspect in a crime investigation may be arrested at any time, anywhere, as permitted by law, if the police feel they have probable cause or enough evidence to make a good provable case, regardless of whether the suspect has an attorney.

Nevertheless, having a well connected legal counselor for a
pending case has several advantages, including: 1) an attorney can be a contact, insulator and intermediary for official contacts between a suspect and intimidating police officers, 2) the presence of an attorney can give the police assurance that a suspect will not flee the jurisdiction, which may lead to lower bail or immediate release on a person's own recogizance after an arrest, and 3) an attorney already familiar with the allegations, who is “up to speed”, can act quickly after an arrest to advocate on behalf of a client.

A criminal investigation can last for days, weeks, or months, and long periods of time can pass without any new information or communication. Criminal charges, depending on the allegations, can be filed up to one year, and sometimes as long as six years after the date of alleged wrongdoing. Police agencies are overwhelmed with work, and sometimes this creates a backlog resulting in delays unrelated to the substance of a particular case.

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Can I be found guilty of vandalism when the property destroyed is my own community property?

nospam@example.com (Matthew J. Ruff) — Sat, 03 Jan 2009 00:58:44 -0500

Vandalism is the malicious destruction of property, not his own. California Courts have endorsed a broad view of what property constitutes "not his own" for purposes of criminal prosecution and have included community property under the definition of vandalism. A Criminal Vandalism Defense Lawyer can render assistance in determining whether viable defenses may exist that could exonerate a defendant charged with Penal Code 594 in the state of California.

Recently a Court of Appeal broadened the scope of prosecution for criminal vandalism where the Court opined that a conviction for vandalism was lega and required after defendant caused more than $15,000 in damage to his wife's house and belongings. The court embraced the emerging rule imposing criminal liability on a spouse for intentionally causing harm to property in which the other spouse had an interest, whether the property was individual or marital, and whether the harm occurred outside or inside the marital home. People v. Wallace (2004, Cal App 5th Dist) 123 Cal App 4th 144.

In what seems good for the gander, the Court similarly found criminal culpability in finding that a wife was properly convicted of vandalism (Pen Code 594, subd. (b) (3)), for throwing a bottle through the rear window of the couple's automobile, even though the vehicle was her own community property. The Court came down that each community property owner has an equal ownership interest in the property, and, although undivided, it is one which the criminal law protects from unilateral, nonconsensual damage or destruction by the other marital partner. The essence of the crime is in the physical acts against the ownership interest of another, even though that ownership is less than exclusive. People v. Kahanic (1987, Cal App 5th Dist) 196 Cal App 3d 461.

Therefore it seems clear that acts involving husband and wife that result in damage to community property may result in charges of vandalism.

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Can One Get Workers Compensation for Mental Stress in Virginia?

nospam@example.com (Gerald G. Lutkenhaus) — Fri, 02 Jan 2009 12:00:25 -0500

In my 30 years of practice as a Virginia Workers' Compensation Lawyer, I have had many claimants contact me and say my work or my supervisor is causing me mental stress. Many times these claimants have gone to a psychiatrist or a psychologist for treatment. Often, the impairment has become so severe they have been taken out of work. They want to know can they be compensated for their lost time through the Virginia Workers' Compensation system. They say (1) my stress happened at work and (2) my doctors say I have lost time and incurred medical bills due to this stress. They say why cannot I be compensated under the workers' compensation law?

The short answer is "NO" as a general rule mental stress is not compensable. Gradual infliction of mental stress by your work or by your supervisor is not an "accident" or a "disease" under the Virginia Workers' Compensation law. As defined by the Workers' Compensation Commission, an "accident" to be compensable must occur at a specific time and thus gradually occurring mental stress cannot qualify as an accident. It is also not an occupational disease unless it can be shown that mental stress is "characteristic" of only that employment which is normally an impossible burden. The Commission has said in the past problems associated with personnel and management are inherent in all employment.

The first exception to the above rule is if the claimant's work is in a particularly high stress occupation it is possible for a claimant to show his or her "mental stress" is characteristic of the employment. For example, the Commission has found an emergency dispatcher was employed in an occupation where stress was characteristic of the employment.

The second exception to this rule is if the claimant has a compensable "accident" or "disease" that aggravates or causes mental stress or depression then the aggravation may be compensable. The typical example of this is the worker who has a severe injury which results in chronic pain. The pain causes depression. In that instance, the depression will compensable. Of course, the treating physician must make the connection between the accident and the stress.

A third exception to the general rule that mental stress is not compensable is if the mental stress arises out of a single specific incident. A typical example of this would be the rescue squad worker who has to go to the scene of a horrible accident and develops a mental impairment due to the exposure to the accident. I had a case involving a school bus driver who had a student point a gun at her head and pull the trigger. The gun was not loaded but the driver developed a post traumatic stress disorder as a result of the incident and the Commission found her claim to be compensable.

In summary, even though your boss has treated you badly, harassed you and has made you go to a doctor and lose time from work, your mental stress is not compensable under the Virginia Workers' Compensation Act. Also, even though you have deadlines to meet which has caused you stress, it is not compensable in Virginia. Nonetheless, you should always check with an experienced Virginia workers' compensation attorney. Your problem may meet one of the exceptions I have listed above.

This may be considered AN ADVERTISEMENT or Advertising Material under the Rules of Professional Conduct governing lawyers in Virginia. This note is designed for general information only. The information presented in this note should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.

Submitted by Jerry Lutkenhaus. Please contact me: http://www.virginiadisabilitylawyer.com or you can reach me at http://www.geraldlutkenhaus.com I have been representing Workers Compensation claimants for 30 years in the Central Richmond Area in Virginia. Martindale Hubbell awarded me its highest rating of "AV" in 2003. In the July 1999 issue of Richmond Magazine I was recognized as the One of the Best Workers' Compensation Attorneys in Central Virginia

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Can One Get Social Security Disability for Fibromyalgia?

nospam@example.com (Gerald G. Lutkenhaus) — Fri, 02 Jan 2009 11:50:21 -0500

Social Security has Impairment Listings for Heart Ailments, Back Ailments, Lung Ailments, etc. Fibromyalgia is not found among the Impairment Listings. Thus, an applicant cannot obtain a favorable disability "Impairment Listing" ruling because Fibromyalgia is not found among the Listings. The inquiry must proceed further.

Social Security has a five step disability process. First, if you are working, then the inquiry stops. Second, if you do not have a "severe impairment," the inquiry stops. Third, if you are not working and you have a "severe impairment" the next inquiry is does your "severe impairment" meet or equal a Listed Impairment. You cannot win a fibromyalgia case at this step because there is no listing for fibromyalgia although it can be a "severe impairment" and get you past step two. Thus, with a fibromyalgia case, you will have to go to step four. At step four the judge must decide if you can do your past relevant work (PRW). This is any work you did in the past 15 years prior to your onset of disability. If the judge finds you cannot do PRW, then you go to step five which is can you do any other work in the national economy. All my fibromyalgia cases have gone to step five.

Social Security has begun to recognize fibromyalgia as a legitimate impairment:

On May 11, 1998 the Deputy Commissioner for Disability indicated as follows: Fibromyalgia is a disorder defined by the American College of Rheumatology (ACR) and we recognize it as medically determinable if there are signs that are clinically established by the medical record. The signs are primarily the tender points. The ACR defines the disorder in patients as "widespread pain in all four quadrants of the body for a minimum duration of 3 months and at least 11 of the 18 specified tender points which cluster around the neck and shoulder, chest, hip, knee, and elbow regions." Other typical symptoms, some of which can be signs if clinically documented over time, are irritable bowel syndrome, chronic headaches, temporomandibular joint dysfunction, sleep disorder, severe fatigue, and cognitive dysfunction.

How To Win The Fibromyalgia Social Security Disability Case.

Thus, with the above in mind, you try to win a fibromyalgia case with a report from a doctor who specializes in arthritis or rheumatology and who can state the claimant's case meets the above guidelines & the impairment is so severe it affects the claimant's functions to such a degree the claimant cannot work. Of course, the doctor needs to itemize how the fibromyalgia adversely affects standing, walking, lifting, sitting, reaching, etc. The doctor's treatment records need to support his disability report. Recently, I have good success in this area. However, there still is a lot of prejudice out there against fibromyalgia.

I have been a practitioner of Social Security Disability & Workers Compensation law in the Richmond, Virginia area for over 30 years I was awarded an "AV" rating by Martindale-Hubbell in 2003. For more information, see our websites at http://www.geraldlutkenhaus.com and http://www.virginiadisabilitylawyer.com or call Jerry Lutkenhaus at 804-358-4766 for a free consultation on your claim.

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Can I convicted of Drunk Driving just by having alcohol on my breath while driving?

nospam@example.com (Matthew J. Ruff) — Thu, 01 Jan 2009 03:42:36 -0500

The crime of drunk driving requires more than simply having a drink and then driving a car. In California, the law requires that the person be impaired to the degree they cannot drive safely. A Drunk Driving Lawyer can defend citizens who are not impaired and mistakenly arrested and charged with a DUI. Commonly, people are detained and even arrested for drunk driving by the police because they smell of alcohol but are not impaired by the alcohol.

For example, many field sobriety tests are inadequate in distinguishing true drunk drivers from, say people that are simply trired or fatigued from a long day at work. the problem is often compounded when faulty breath testing equipment is administered to the suspected drunk driver on the side of the road. So called "DUI Experts" in police departments often are wrong in their assessment of whether someone is impaired by the consumption of alcohol.

The bottom line is that the police report is merely one officer's opinion of whether the suspect is in fact DUI and only a properly administered blood alcohol test can really tell a individual's level of intoxication.

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Can I sue my lawyer for over charging?

nospam@example.com (Elliot R. Schiff) — Wed, 31 Dec 2008 16:23:59 -0500

Can I sue my lawyer for over charging? Yes. You should require your attorney provide you with a written fee agreement prior to hiring the attorney. As a Chicago Legal Malpractice Attorney, I’ve seen many cases where the charges are inconsistent with an agreement.

Request that your lawyer provide an explanation for the charges, and correction of any errors. If you continue to feel unsatisfied, contact the state bar association. Some bar associations offer free arbitration services for settling attorney/ client disputes. If the fee dispute remains unresolved, you may want to pursue a legal malpractice action against the attorney based upon fraud, breach of contract, or other theories of liability.

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Understanding Probate Law in California

nospam@example.com (Trudy Nearn) — Wed, 31 Dec 2008 14:00:39 -0500

Probate in California is defined as legally settling the deceased’s property, which is referred to as their estate. When a death occurs, the deceased's debts, property, possessions and money must be dealt with in a legal manner in accords with their wishes.

If a will has been drafted, it will name an executor of the estate, usually a relative, and will be notified by a Sacramento probate attorney. The executor is responsible for implementing instructions the deceased has written into the will and ensure that the probate process is followed accordingly.

The aspects of California probate court, which is where the probate process takes place generally includes the following stages to ensure that debts are paid and assets are properly transferred. Upon the death of a person, the executor is sworn in to oversee the will. All creditors, the public and heirs are notified of the death. The property is then inventoried. Finally the estate is distributed in an orderly fashion.

It is important to understand there are some possessions and property that may not be presented in courts. A good example is a life insurance policy. If a beneficiary listed on the policy then the policy will transferred to the person named. The only time this will not occur is if the named beneficiary is deceased as well, and no other beneficiary is named. Other types of possessions and property that cannot be presented include anything that is payable upon death to named beneficiaries.

Probate may not be needed if a death occurs and the person is married, as in most cases everything belonging to the deceased is transferred to their spouse if there is no will. However, the courts will need to ensure that all the property left by the deceased is distributed legally.

Additionally there are alternatives in California to probate. One of the most common is a Spousal Property Petition or a small estate transfer as long as the estate's value does not exceed $100,000. Your estate planning attorney can help you decide the best course of action.

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Federal Disability Retirement: Proper Response to the Agency

nospam@example.com (Robert R. McGill) — Tue, 30 Dec 2008 22:52:32 -0500

It is often difficult to inform an Agency of one's decision to file for disability retirement. On the one hand, it is often a place where a Federal Employee has spent many years working for; with multiple years of interaction, both good and bad, it is a place which has grown to play a prominent role in the employee's daily life, with necessary interpersonal infusions of personalities, playing such an influence as important as one's personal family life -- and, because a person may spend 8 - 10 hours a day, week after week, month after month, like life in a family, it has come to embrace a place of primary importance in one's life. As such, to inform such a place of one's decision to file for disability retirement is, in effect, to inform them of one's separation from that primary location of importance. Such separation can be as psychologically devastating as a "divorce" which, in many respects, it is similar to. That is often why the role of an attorney can be important. An attorney can be a "middle-man", an arbiter to soften the strain of such a separation from a federal employee from his or her "family". Remember, this is an administrative process; it need not be an adversarial process. An attorney experienced in disability retirement law should know the process, and act to soften the separation which has been long in coming, and work to garner a sense of "teamwork" between Agency and employee, to attain as amicable a separation as possible.

Sincerely, Robert R. McGill,Esquire

Understand your rights as a tourist.

nospam@example.com (David L. Templer) — Tue, 30 Dec 2008 15:24:59 -0500

It turns out that the United States happens to be a very popular tourist destination. At this point, we have a weak dollar, which brings in tourists from all over the world.

South Florida, in particular Miami Beach, and even Aventura, having a very large and dense population with a regional mall here, we attract a large number of people from all different continents and countries. As injury attorneys in Aventura Florida we often see these tourists end up in our office unsure of their rights.

These people have the same rights as would any naturalized citizen here in the United States to be here freely, shop freely, without being exposed to unnecessary or unreasonable dangers. And if and when they are injured, they have the same rights to make claim for their damages resulting from those injuries.

As Aventura Florida and Miami Beach Personal Injury Lawyers of Templer & Hirsch, we’re one of the few firms that actually make ourselves specifically available to tourists and we utilize a variety of different translators to assist us in doing that.

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Importance of Becoming a US Citizen.

nospam@example.com (Janis Peterson-Lord) — Tue, 30 Dec 2008 15:06:29 -0500

At the law offices of Janis Peterson-Lord we encourage those who are not US Citizens to become one!

One reason to become a citizen is that you don’t have to worry about continually renewing your green card. Becoming a US Citizen would add force of the US government behind you if you travel outside the United States.

In addition,there are certain rights that those without a citizenship do not have. The most obvious one is they do not get to vote. But they also are limited in government benefits. There are certain tax rules that are more generous to citizens.

It is important to claim your citizenship within the United States. If you are in need of legal assistance regarding United States citizenship or in need of an Immigration Lawyer please contact the Law office of Janis Peterson-Lord.

Janis Peterson-Lord an Immigration Lawyer in Long Beach, CA describes the importance of becoming a US Citizen. The law office of Janis Peterson-Lord handles i-601 waivers and is an experienced H-1B Visa Lawyer.

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FPCA News Brief: A.M. Best Restores Ratings of Insurers Tied to Florida Hurricane Fund

nospam@example.com (Mike Colodny) — Tue, 30 Dec 2008 11:45:27 -0500

A.M. Best Co. recently issued a press release announcing the removal of certain Florida insurance companies from its "Under Review" list. It also affirmed ratings of several other Florida companies following the completion of the 2008 hurricane season.

A related article from Insurance Journal and the A.M. Best press release are reprinted below.

Should you have any comments or questions, please do not hesitate to contact Colodny, Fass, Talenfeld, Karlinsky & Abate.

Insurance Journal Southeast News
A.M. Best Restores Ratings of Insurers Tied to Florida Hurricane Fund

December 19, 2008

Following the completion of the 2008 hurricane season, A.M. Best Co. has removed from under review and affirmed several insurers' ratings it had issued in October when there was concern over the insurers' exposure to the state's hurricane fund in a time of credit market difficulties.

No catastrophes occurred through the end of the season, which could have adversely impacted Florida Hurricane Catastrophe Fund's (FHCF) ability to fund its claims-paying capacity. Due to the recent considerable contraction in the credit markets, the FHCF announced in October a revision to its estimated claims-paying capacity, as a large portion of its capacity relies on potential bond issuances. These actions prompted A.M. Best to place the ratings under review on Oct. 29, 2008, as the rated entities' catastrophe reinsurance programs rely significantly on the FHCF.

However, as no catastrophe occurred, A.M. Best decided there was no adverse impact on the entities' risk-adjusted capitalization, based on a reduction in the potential coverage available from the FHCF. Therefore, A.M. Best is reverting back to the opinions it had on the entities regarding the financial strength rating (FSR), issuer credit rating (ICR) and outlooks, which it had prior to FHCF's announcement.

A.M Best said it will will continue to monitor the capacity of the FHCF given the evolving credit market conditions and said this will be a critical component of its analysis of insurer's risk-adjusted capitalization, particularly with regards to the development of the 2009 reinsurance programs. The rating agency said aAny potential gaps in coverage with regards to FHCF capacity will be incorporated into its analysis prior to start of the 2009 hurricane season.

A.M. Best affirmed the following rated entities' FSRs and ICRs:

Allstate Floridian Insurance Group -- FSR of B+ (Good) and ICR of "bbb-" with a negative outlook
Argus Fire & Casualty Insurance Company -- FSR of C- (Weak) and ICR of "ccc-" with a negative outlook
Omega Insurance Company -- FSR of B (Fair) and ICR of "bb" with a negative outlook
Safeway Property Insurance Company -- FSR of B (Fair) and ICR of "bb +" with a stable outlook
Tower Hill Preferred Insurance Company -- FSR of B (Fair) and ICR of "bb" with a negative outlook
Tower Hill Prime Insurance Company -- FSR of B (Fair) and ICR of "bb" with a negative outlook
United Automobile Insurance Group -- FSR of B- (Fair) and ICR of
"bb-" with a stable outlook

Source: Best's Ratingswww.ambest.com/ratings
www.ambest.com

A.M. Best Removes from Under Review & Affirms Various Ratings Regarding Potential Exposure to Florida Hurricane Catastrophe Fund

OLDWICK, N.J., DECEMBER 19, 2008--A.M. Best Co. has removed from under review and affirmed several ratings, following the completion of the 2008 hurricane season. (See below for a detailed listing of the rated entities). No catastrophes occurred through the end of the season, which could have adversely impacted Florida Hurricane Catastrophe Fund's (FHCF) ability to fund its claims-paying capacity. Due to the recent considerable contraction in the credit markets, the FHCF announced in October a revision to its estimated claims-paying capacity, as a large portion of its capacity relies on potential bond issuances. These actions prompted A.M. Best to place the ratings under review on October 29, 2008, as the rated entities' catastrophe reinsurance programs rely significantly on the FHCF. However, as no catastrophe occurred, there was no adverse impact on the entities' risk-adjusted capitalization, based on a reduction in the potential coverage available from the FHCF. Therefore, A.M. Best is reverting back to the opinions it had on the entities regarding the financial strength rating (FSR), issuer credit rating (ICR) and outlooks, which it had prior to FHCF's announcement. However, A.M Best will continue to monitor the capacity of the FHCF given the evolving credit market conditions. This will be a critical component of A.M. Best's analysis of insurer's risk-adjusted capitalization, particularly with regards to the development of the 2009 reinsurance programs. Any potential gaps in coverage with regards to FHCF capacity will be incorporated into A.M. Best's analysis prior to start of the 2009 hurricane season.

The following rated entities' FSRs and ICRs have been affirmed:

-- Allstate Floridian Insurance Group -- FSR of B+ (Good) and ICR of "bbb-" with a negative outlook
-- Argus Fire & Casualty Insurance Company -- FSR of C- (Weak) and ICR of "ccc-" with a negative outlook
-- Omega Insurance Company -- FSR of B (Fair) and ICR of "bb" with a negative outlook
-- Safeway Property Insurance Company -- FSR of B (Fair) and ICR of "bb+" with a stable outlook
-- Tower Hill Preferred Insurance Company -- FSR of B (Fair) and ICR of "bb" with a negative outlook
-- Tower Hill Prime Insurance Company -- FSR of B (Fair) and ICR of "bb" with a negative outlook
-- United Automobile Insurance Group -- FSR of B- (Fair) and ICR of "bb-" with a stable outlook

For Best's Ratings, an overview of the rating process and rating methodologies, please visit Best's Rating Center.

Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers.

To view a list of companies related to this press release, click here. The list will include Best's Ratings along with links to additional company specific information including related news and reports.

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