Judge Says $48M Insurance Coverage is Inadequate for Collapsed Condo (Insurance Business)

Judge Says $48M Insurance Coverage is Inadequate for Collapsed Condo

  Wednesday, July 7th, 2021 Source: Insurance Business

A judge has ruled that the reported $48 million insurance coverage of a collapsed condominium building in Florida is ‘simply not enough,’ as the association responsible for the facility faces five separate lawsuits.

The Champlain Towers South condominium in Surfside, FL fell on June 24. Long-term degradation of the reinforced concrete support structures in its underground parking garage is believed to be the cause of the cave-in.

As of July 06, the confirmed death toll of the tragic incident was 36. Some 109 individuals who may still be inside the collapsed structure are still unaccounted for.

Following the incident, five separate lawsuits have been filed against the Champlain Towers South Condominium Association; other defendants include a structural engineering firm and an architectural firm responsible for the recertification of the building.

Many more lawsuits are expected to be filed in the coming months.

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