Filing Number: 790421
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| Filing Accepted: 11/6/2024 |
| Last/Business Name
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THE CONDOMINIUM AT WATERSIDE ASSOCIATION, INC.
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First Name |
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| Street Address
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101 NATURE’S WAY |
| City, State Zip
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PLACIDA,
FL
33947
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| Email Address
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INSURED@MCDONALDBARNHILL.COM |
| Complainant Type:
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Insured |
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| Last/Business Name* |
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THE CONDOMINIUM AT WATERSIDE ASSOCIATION, INC. |
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First Name |
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| Policy # * |
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ORNSPR001497-00 |
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Claim #* |
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R022100098 |
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Attorney is Applicable
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| Last Name* |
GONTRUM
First Name *
RYAN
Initial
L
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| Street Address* |
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505 S. MAGNOLIA AVENUE |
| City, State Zip* |
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TAMPA
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FL
33606
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| Email Address * |
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TAL@MCDONALDBARNHILL.COM |
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| Insurer Type
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Authorized Insurer
Unauthorized Insurer
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| Insurer Name |
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| Insurer Name* |
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OLD REPUBLIC UNION INSURANCE COMPANY
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| Insurer Name* |
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| Street Address* |
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| City, State Zip* |
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,
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NAIC Company Code 31143 |
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| Name of individual responsible for violation (if any):*
GORDON WELCH AND DAVID MISTICK
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| Type of Insurance
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Commercial Property & Casualty
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| Reason for Notice
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Claim Denial
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Claim Delay
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Unsatisfactory Settlement Offer
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Unfair Trade Practice
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Statutory provision(s) which the insurer allegedly violated.
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| 624.155(1)(b)(1) |
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Not attempting in good faith to settle claims when, under all the circumstances, it could and should have done so, had it acted fairly and honestly toward its insured and with due regard for her or his interests.
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| 626.9541(1)(i)(3)(a) |
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Failing to adopt and implement standards for the proper investigation of claims.
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| 626.9541(1)(i)(3)(b) |
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Misrepresenting pertinent facts or insurance policy provisions relating to coverages at issue.
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Specific policy language that is relevant to the violation.
Enter all words or phrases (one at a time) that should be used to filter.
***ADDITIONAL STATUTORY PROVISIONS ALLEGED TO HAVE BEEN VIOLATED AS FOLLOWS:***
§624.155 (5) No punitive damages shall be awarded under this section unless the acts giving rise to the violation occur with such frequency as to indicate a general business practice and these acts are:
(a) Willful, wanton, and malicious;
(b) In reckless disregard for the rights of any insured; or
(c) In reckless disregard for the rights of a beneficiary under a life insurance contract;
(8) The damages recoverable pursuant to this section shall include those damages which are a reasonably foreseeable result of a specified violation of this section by the authorized insurer and may include an award or judgment in an amount that exceeds the policy limits.
***Specific policy language that is relevant to the violation***
Renaissance Re – Syndicate 1458 and Old Republic Union Insurance Company (Insurers) failed to adequately adjust and pay the claim covered under the subject insurance policy. Specifically, but not limited to, Insurers failed to properly apply the Loss Payment, Valuation, and Conditions provisions of the policy. In addition to the policy sections specifically cited herein, any endorsements or changes to said sections are relevant to the Insured’s claim for civil remedy. There may be additional policy language relevant to this violation that may be discovered.
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Facts and circumstances giving rise to the violation.
Enter all words or phrases (one at a time) that should be used to filter.
The Condominium at Waterside Association, Inc.’s claim results from wind and water damage from Hurricane Ian which occurred on or about September 28, 2022, to their property located at 101 Nature’s Way, Placida, FL 33947. The property was insured by a syndicate of Renaissance Re – Syndicate 1458 and Old Republic Union Insurance Company (Insurers), with policy numbers NSM-1216-01 and ORNSPR001497-00. The intense wind and rain from the storm caused damage to the Insured’s property including the roofs, exteriors, and windows of the two buildings and clubhouse. The exterior damage resulted in numerous interior leaks which caused water damage to the interiors of the apartments. The claim was reported to Insurers and both McClarens and Athens Insurance were assigned as claim administrators. The claim was given claim number R022100098 and Gordon Welch was assigned as the field adjuster. Insurers sent both Mr. Welch and an engineer to inspect the loss. After drafting two estimates, the larger of which totaling $1,511,123.24 and deducting the deductible and depreciation, Insurers have paid a total of $926,483.26 for the substantial loss.
The Insured retained the services of Stellar Public Adjusting Services (Stellar) to represent their interests in the claim. Stellar inspected the property with Insurers and prepared an estimate of the damages totaling $4,220,378.23. Stellar submitted this estimate, along with photos and other supporting documentation to Insurers, and requested a reinspection. While reinspecting the property with an adjuster and loss consultant sent by Insurers, Stellar was optimistic about agreement on many of the issues needing repair. However, when a supplemental estimate was sent to Stellar, it was missing many of the items discussed. This supplemental estimate, prepared by David Mistick, totaled $2,194,240.78. Despite completing this estimate, Insurers refused to issue payment on this estimate despite that amount being clearly owed to the insured. The Insurers’ course of action has continuously delayed indemnification while the Insured’s costs continue to rise.
In Florida, the work of adjusting insurance claims engages the public trust. Insurers have breached this duty in the adjustment of this loss by refusing to provide proper indemnity, failing to pay amounts clearly owed, unnecessarily delaying resolution of the claim, and failing to take into consideration documentation provided to them which would support compensation. Insurers has failed to create and implement adequate guidelines for proper investigation of claims handling and for training and supervision of employees and representatives which have resulted in some of the statutory violations set forth above.
Insurers charged The Condominium at Waterside Association, Inc. a substantial premium for these coverages but has refused to tender proper payment when under all circumstances it could have and should have done so had it acted fairly and honestly. Additionally, it appears this is done companywide. The Insureds have been forced to consider legal counsel to protect their interests.
Therefore, to cure the defects outlined in this Civil Remedy Notice, Insurers must:
1. Immediately tender all insurance monies due to the Insureds for the loss;
2. Act fairly and honestly towards the Insureds and with due regard for their interests in attempting to settle the claim;
3. Pay statutory interest on the amount of unpaid contractual damages from the date the claim was reported;
4. Cease and desist all present and future bad faith actions with regard to the Insureds’ claim;
Failure to cure all defects during the 60-day safe harbor period may result in additional extra-contractual damages.
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The submitter hereby states that this notice is given in order to perfect the rights of the
person(s) damaged to pursue civil remedies authorized by Section 624.155, Florida Statutes.
Before submitting a Notice using this system, please verify that all text has been entered
correctly and completely. Once the Notice has been submitted, the text cannot be changed
or deleted.
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DFS-10-363
Rev. 10/14/2008
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