Mike Colodny, CEO, Colodny Fass

May 2026 — Invest: sat down with Mike Colodny, CEO of Colodny Fass, to discuss how Florida’s insurance market is evolving, what is shifting for marine and supply chain clients, and why steady leadership matters for regional momentum. “We’re in one of the better phases that we’ve been in for a long time,” Colodny said.

What changes have been the most significant for your industry over the last 12 to 18 months?

There has been a lot of activity in the insurance area, and a lot of discussion around rates, affordability, and rate adequacy. The general consensus, across homeowners, auto, and commercial lines, is that rates have been coming down.

A big driver goes back to legislation from a couple years ago that addressed what I would call irresponsible litigation. There’s always responsible litigation, but it’s the irresponsible litigation that raises rates. The statistics on litigation have come down drastically, and that affects the overall pricing environment.

We’ve also become very involved in marine insurance, including work for marine insurers and cargo carriers. The supply chain faces difficult hurdles, and adequate insurance and liability coverage are part of that conversation. Those issues are always evolving, but we’re in one of the better phases that we’ve been in for a long time.

Are there any new or recent state-level reforms that could affect how insurance clients operate?

We constantly watch what’s coming out of Tallahassee, and I expect certain issues will be addressed again this year. Building codes and the hardening of existing facilities remain front and center. There’s also a lot of discussion around condominiums, including reviews and financing, and all of that has insurance impacts.

What new client needs or legal risks are emerging as South Florida’s infrastructure, logistics, and population continue to grow?

Logistical needs and the supply chain have become very important, not only in construction, but also in the furnishing of necessities. When growth accelerates, every link gets tested, from how materials arrive to how they’re stored, moved, and delivered.

We’ve been involved with the Council of Supply Chain Management Professionals, and there’s a clear desire not only to articulate problems, but to identify solutions. It’s also important to say this isn’t only a South Florida situation. This is a national situation. But in a region like Broward, where growth intersects with ports, tourism, and development activity, you feel the pressure points sooner.

Last year you noted that unified leadership in Broward County was key to regional momentum. A year later, how has that alignment continued or changed?

If you look at the Broward County Commission, unlike many other municipal legislative bodies, they meet with a quorum and they meet effectively. They’re not all on the same page, but they conduct themselves in a manner that’s responsible and productive.

One of the strengths here is clearly the administration. The county administrator and her staff are greatly attuned to everything, including transportation, parks, public safety, and more. That matters, because competent administration creates continuity, and continuity makes it easier to plan, execute, and sustain momentum.

It comes down to leadership and responsible people. When you have that, even disagreement can be constructive, because the process stays functional and focused on outcomes.

How is the growth of marine and logistics influencing your strategy and client base?

Greatly. It’s a vibrant segment of the economy, and it starts with the port. The port facility is a major asset for the region. The only thing that could have been better for the port is if it had more land, because it’s that active.

When you look at the hotels near U.S. 1 and the cruise industry, the economic impact is significant. If you look at the volume of goods that comes through the port, it’s remarkable. I heard a statistic that 80% of the concrete that comes into the state of Florida is directly relevant to Port Everglades.

Beyond cargo, the port supports jobs, logistics operations, tourism, and a long list of related businesses. It’s resilient, and it influences how we think about legal needs around insurance, liability, contracts, and the documentation behind supply chain operations.

We also see how South Florida functions as a commercial hub for neighboring markets. There’s a direct relationship between the Bahamas and Broward County, and we’ve looked closely at the economic impact of that connection.

Where do you see the biggest opportunities and challenges for firms and insurers when adopting technology?

I probably have a more constrained view on this than some. My feeling is that the capabilities of AI and its applications are advancing, but it’s premature to rush into programs and implementations just because they’re available.

These tools have to be tested. They have to fulfill the need and not create other questions. I think there’s too much of a rush to implement innovations before they’re worthwhile for the functions they’re supposed to handle.

Part of the challenge is that there’s a lot of competition and a lot of vendors, and it can be difficult to distinguish between what is useful and what is simply new. I think the market needs a step back, a clearer understanding of what works, what doesn’t, and where technology can genuinely improve outcomes.

AI can do a lot, but many users don’t need a lot. They need a refined, definitive, productive application of it.

How are you thinking about recruiting, retaining, and keeping your team prepared as the industry evolves?

When you add new areas of expertise, you do need practitioners. But you also have to realize you can take competent associates and partners who are very skilled in one area and retrain them.

What I’ve found is that people are open to it. They’re interested, and they’re enthusiastic about learning a new area of endeavor.

You can take somebody who’s been doing a certain area and doing it well, update their knowledge, update their participation, and move them into a space where they can add value. That approach helps you build capability while also strengthening culture.

What is your view on the future of insurance in Florida, and how might it affect market stability and consumer protection over the next few years?

We’ve been very involved in anti-fraud activities, not only in Florida but nationally. The current leadership within the insurance function of the state is totally involved in fighting fraud, including fraud tied to vendors and schemes that try to take advantage of the elderly.

What has been refreshing is the confluence of forces aligned on this. You see the legislature and state insurance administration focused not only on cracking down on fraud, but also on improper actions more broadly.

That kind of attention improves confidence in the system. It’s a good sign. You’re a lot safer today in the insurance arena than you were 30, 35 years ago. And when you reduce fraud and improve accountability, it supports stability.

What are your top priorities over the next three to five years?

Continue to diversify. Continue to invest internally in quality people. And, hopefully, prosper.

Diversification matters because it strengthens resilience. If you can serve clients across several practice areas that are relevant to the region’s economy, you’re better positioned for shifts in cycles, shifts in risk, and shifts in demand.

Is there anything you would like to add about the region or the market?

I still sincerely feel that, from a county and geographical level, you have a dynamic county here. It’s not only a location where people want to come. It’s a place where people want to stay, continue to grow, bring up their families, expand their businesses, and expand their business reach.

That kind of momentum doesn’t happen by accident. It reflects assets like the port, a diversified economy, and leadership that functions. When those pieces line up, it creates opportunity and confidence, which drives the kind of long-term growth you want to see.