3rd and 4th Horizons Condo Complex

Horizons Condominium Complex in North Miami, Florida is a set of 15 individual buildings which sustained a considerable amount of roof damage from Hurricane Wilma. Although each building has its own separate association, they were all covered under the same policy issued by their Insurance carrier. Third and Fourth Horizons buildings are two story structures with 50 to 60 units in each. The carrier used different adjusters to inspect and handle claims for the various buildings. This approach resulted in inconsistent handling of the claims wherein the buildings and damages were similar but the settlements were not. The carrier claimed 3rd Horizons building warranted no payment because the amount of damage assessed by their adjuster was under the deductible. On the 4th Horizons building the carrier said the amount of the damage was only slightly over the deductible and thus paid $2,996.68.

Prior to the final hearing we submitted a compromise offer to cover both buildings. We offered a settlement of $1,137,976.76 to the carrier’s appraiser with an expiration of a week or so to contemplate it. The insurance company did not reply by the deadline.

The umpire awarded as follows:. For Third Horizons the amount of the award was $718,520.55 and for Fourth Horizons the amount was $725,240.27. Had the carrier’s appraiser taken our offer of compromise he could have saved his principal some $50,000.00.


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