Residents of the El Dorado condo association finally borrowed a $15 million loan to get the work done, and have sued the insurer for the repair money
The residents of an Aventura condominium, whose properties were devastated by Hurricane Wilma, have been in a long battle for repair claims with their insurance company – reported in Miami Herald.
The residents of the El Dorado condo association finally borrowed a $15 million loan to get the work done, and have sued the insurer for the repair money.
QBE Insurance, a private insurer of condo associations in Florida, has been sued 72 times in federal and state courts. The cases filed were based on claims that the company has either delayed or denied payment on claims. The lawsuits cover claims from the eight hurricanes that hit Florida in 2004 and 2005.
Another South Florida condo hit by Wilma, Buckley Towers in North Miami Beach, won a federal jury verdict against QBE for about $25 million in February.