Filing Number: 791078
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| Filing Accepted: 11/8/2024 |
| Last/Business Name
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PREMIER RESORT & MANAGEMENT, INC.
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First Name |
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| Street Address
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3301 S., 930 N., 730 N., 2560 N. ATLANTIC AVENUE |
| City, State Zip
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DAYTONA BEACH SHORES,
FL
32118
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| Email Address
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FIRM@FLORIDAINSLAW.COM |
| Complainant Type:
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Insured |
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| Last/Business Name* |
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PREMIER RESORT & MANAGEMENT, INC. |
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First Name |
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| Policy # * |
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ESP1005841-01 |
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Claim #* |
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000013859040 |
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Attorney is Applicable
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| Last Name* |
CIOCCHETTI
First Name *
MICHAEL
Initial
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| Street Address* |
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125 N. RIDGEWOOD AVENUE, SUITE 100 |
| City, State Zip* |
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DAYTONA BEACH
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FLORIDA
32114
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| Email Address * |
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FIRM@FLORIDAINSLAW.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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ARCH SPECIALTY 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 21199 |
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| Name of individual responsible for violation (if any):*
EDWARD WALSH, LARRY KAPLAN, SONYA GONZALEZ, ROBERT W. MURRAY, ANDREW NOBOA
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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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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)(2) |
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A material misrepresentation made to an insured or any other person having an interest in the proceeds payable under such contract or policy, for the purpose and with the intent of effecting settlement of such claims, loss, or damage under such contract or policy on less favorable terms than those provided in, and contemplated by, such contract or policy.
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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.
The Building Coverage and Business Interruption Coverage portions of the multiple Policies are relevant to the Claims.
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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.
This complaint is made on behalf of the insured, PREMIER RESORT & MANAGEMENT, INC. Further, this complaint is a statement that notice is hereby given in order to perfect the right to pursue the civil remedy pursuant to Florida Statute §624.155.
In consideration of the premium paid to it, the carriers, ARCH SPECIALTY INSURANCE COMPANY, INDEPENDENT SPECIALTY INSURANCE COMPANY, , CERTAIN UNDERWRITERS AT LLOYDS, LONDON SUBSCRIBING TO BINDING AUTHORITY B604510568622021, and INTERSTATE FIRE & CASUALTY INSURANCE COMPANY (“Carriers”), issued multiple policies, Policy Nos. ESP1005841-01 (ARCH), VNB-CA-003808-01 (INDEPENDENT SPECIALTY), VRN-CN-003808-01 (UNDERWRITERS), and VUX-CN-003808-01 (INTERSTATE) to PREMIER RESORT & MANAGEMENT, INC. (“Insured”) where the policy provided coverage for all losses, except those losses which were expressly excluded, for the property located at 3301 S. Atlantic Ave., Daytona Beach Shores 32118, 930 N. Atlantic Ave., Daytona Beach Shores 32118, 730 N. Atlantic Ave., Daytona Beach Shores 32118 and 2560 Atlantic Ave., Daytona Beach 32118. The policies were in full force and effect at the time the damage occurred from Hurricane Ian, and the ensuing damage as a direct result thereof, to the Insured Properties, on or about September 29, 2022.
Thereafter, the Carriers were timely notified of the Losses. In particular, the Carriers were put on notice of covered direct damages and ensuing damages and of the request that a claim be opened pursuant to the terms and conditions of the Policies. Claim numbers 000013859040 (ARCH), SDA22041690 (INDEPENDENT SPECIALTY), 957019 (UNDERWRITERS), 1000380338 (INTERSTATE), (“Claim”) were assigned to the Losses.
The Carriers sent adjusters, consultants and engineers to the Insured Properties to perform various inspections. The Carriers performed cursory inspections of the Insured Properties and failed to retain unbiased experts necessary to scope the entirety of the Losses and covered repairs necessary to restore the Insured Properties to their pre-loss conditions. This was done deliberately by Carriers to undervalue portions of the claims. The Carriers know their aforementioned investigations are insufficient and that they have failed to provide proper payment to restore the properties to their pre-loss conditions. These inspections placed The Carriers on notice of the severity of the Losses.
Throughout the claim, the Insureds were represented by a public adjuster who ensured the proper estimation of the losses and compliance with all Policy conditions. The public adjuster submitted comprehensive estimates to the Carriers for the full scope of damages to the Insured Properties. The Carriers disregarded these comprehensive estimates, and, instead, underpaid the Claims. The Carriers have refused to reassess their payments of benefits and the basis of the payments and have refused to properly adjust and settle the Claims.
The Carriers submitted numerous overwhelming requests to the Insureds for documents despite being provided with necessary documentation showing the Insureds had not been indemnified for their extensive losses to their buildings as well as the Business interruption portions of their Claims.
The Carriers violated the provisions of Florida Statute §624.155(1)(b)(1) by failing to attempt in good faith to resolve these claims when, under all circumstances, it could and should have done so had it acted fairly and honestly toward its insureds with due regard for their interests. When the Carriers were confronted with comprehensive estimates and verifiable cause of Losses, the Carriers chose to underpay the Insureds’ valid Claims for extensive damages that exceed the amount paid.
The Carriers violated the provisions of Florida Statute §626.9541(1)(i)(2) by materially misrepresenting to the Insureds that Policy coverage was unavailable for the Insureds’ Claims and Losses to the Insured Properties. This misrepresentation was made in an attempt to underpay the Insureds’ Claims and escape without paying for the full extent of substantial damage.
The Carriers violated the provisions of Florida Statute §626.9541(1)(i)(3)(a) by failing to adopt and implement standards for the proper investigation of claims. When confronted with comprehensive estimates and verifiable cause of Losses, the Carriers apparently had no system or standards prepared or implemented which would allow them to evaluate the Claims as submitted by its Insureds.
The Carriers violated the provisions of Florida Statute §626.9541(1)(i)(3)(b) by misrepresenting pertinent facts or insurance policy provisions relating to the coverages at issue. This has been discussed fully hereinabove.
The Carriers have refused to properly assess their payment of benefits and the basis of payments and have refused to properly adjust and settle the claims constituting unfair claim settlement practices under Florida Statute §626.9541(1)(i)(3)(i).
The Carriers can cure these violations by payment, within 60 days of the date hereof, of all funds contractual owed to the Insureds under the terms and conditions of the Policies.
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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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