A new mediation program has been designed to help condominium associations resolve disputes with their insurance companies over hurricane claims. The program offers a dispute resolution process as an alternative to other options, such as going to court. The mediations are free of charge and using the program does not preclude an association's right to take the dispute to court or to invoke the policy appraisal clause.
"Many condominium communities in our state have not yet started to rebuild because they are struggling with their insurance companies to get their claims paid," said Tom Gallagher, Florida's chief financial officer, who oversees the Department of Financial Services.
When the department receives a request for mediation, the insurance company is informed it has 21 days to settle the claim, or it will have to appear at mediation with the policyholder or his legal representative.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.