Filing Number: 798532
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| Filing Accepted: 12/27/2024 |
| Last/Business Name
*
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OTERO
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First Name |
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HIPOLITO |
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| Street Address
*
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5104 BIG STAND LN |
| City, State Zip
*
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WIMAUMA,
FL
33598
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| Email Address
*
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GTORRES@ITSABOUTJUSTICE.LAW |
| Complainant Type:
*
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Insured |
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| Last/Business Name* |
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OTERO |
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First Name |
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HIPOLITO |
| Policy # * |
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000988858890 |
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Claim #* |
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0757044300 |
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Attorney is Applicable
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| Last Name* |
TORRES
First Name *
GISELLE
Initial
M
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| Street Address* |
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350 N. LAKE DESTINY ROAD |
| City, State Zip* |
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MAITLAND
,
FLORIDA
32751
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| Email Address * |
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GTORRES@ITSABOUTJUSTICE.LAW |
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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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CASTLE KEY INDEMNITY 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 10835 |
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| Name of individual responsible for violation (if any):*
CASTLE KEY INDEMNITY COMPANY
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| Type of Insurance
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Residential Property & Casualty
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| Reason for Notice
*
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Other
:
Appraisal after Suit Filed
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Claim Denial
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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)(c) |
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Failing to acknowledge and act promptly upon communications with respect to claims.
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| 626.9541(1)(i)(3)(d) |
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Denying claims without conducting reasonable investigations based upon available information.
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| 626.9541(1)(i)(4) |
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Failing to pay undisputed amounts of partial or full benefits owed under first-party property insurance policies within 60 days after an insurer receives notice of a residential property insurance claim, determines the amounts of partial or full benefits, and agrees to coverage, unless payment of the undisputed benefits is prevented by factors beyond the control of the insurer as defined in s. 627.70131(5).
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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 following policy provisions are relevant to this civil remedy notice.
Section I - Your Property: Coverage A Dwelling Protection
Section I - Losses We Cover Under Coverages A, B and C
Section I - Conditions: Our Settlement of Loss […] We will settle any covered loss with you unless another payee is named in the policy or is legally entitled to receive payment. We will settle within 20 days after the amount of loss ins finally determined. […]
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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.
On or about May 14, 2024, Hipolito Otero (“Insured”) suffered a covered loss at his residence located at 5104 Big Stand Lane, Wimauma, FL 33598 caused by a storm event. Prior to the loss, Castle Key Indemnity Company (“Castle Key”) issued a homeowner’s insurance policy (Policy # 000988858890) for the Insured’s property. The policy was in full force and effect on the date of loss and Castle Key was timely notified of the claim.
After providing prompt notice of the loss, the Insured fully cooperated with Castle Key’s adjustment of the claim, including making his home available for inspection and providing documents requested. After completing its investigation, Castle Key accepted coverage for the loss. However, Castle Key failed to tender the full amount owed to actually complete the necessary repairs.
After being served with the Insured’s lawsuit, Castle Key immediately responded by demanding that the court abate litigation and compel appraisal. Prior to the Insured filing suit, Castle Key made no meaningful attempts to resolve the dispute or settle the claim, nor did it ever request appraisal with the Insured. It was only in response to the Insured’s lawsuit that Castle Key sought to resolve the dispute of through appraisal.
It has become a pattern and practice of Castle Key to deny full payment of claims without conducting a reasonable investigation. Castle Key routinely refuses to pay claims in full when it has the ability to do so, but instead waits to see if its insureds file suit and, only then, does Castle Key demand appraisal of the claim. As a general business practice, Castle Key intentionally delays resolution of its claims and leaves claimants with no choice but to pursue legal action or be underpaid for their damages. Furthermore, Castle Key knows that the relatively small amount in dispute makes the appraisal process cost prohibitive to the claimant because each party bears the expense of its own appraiser. Castle Key’s strategy to underpay claims and then demand appraisal if suit is filed is evidence that it does not act fairly or honestly towards its insureds and their assignees during the adjustment process and that Castle Key has failed to implement proper standards for the investigation and handling of its claims.
To remedy this CRN, Castle Key must immediately tender the full remaining amount of insurance benefits owed to the Insured for its services rendered in the amount of $26,041.43. The payment should be tendered to the Insured’s attorney, Giselle M. Torres, Esq. at 350 N. Lake Destiny Road, Suite 300, Maitland, FL 32751.
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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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