All the headlines from our Condominium Topic Page, ordered by recency.
Mar 7 2024 // A Florida pilot program to fortify coastal-area condominiums is on its way to the governor but other property insurance bills may have hit a snag after last-minute changes – with just two days left in the legislative...
Feb 28 2024 // Condominium sales and prices in Miami, Jacksonville and Tampa and other parts of Florida have dropped over the past year, largely due to the soaring cost of property insurance and association fees, according to Redfin, a...
Feb 22 2024 // When Allstate’s Florida unit, Castle Key Indemnity Co., entered the surging condominium insurance market in 2020, it looked like it had made a smart bet: Within two years, the carrier had added no fewer than 123,000...
Feb 13 2024 // The Florida Office of Insurance Regulation next week will hold hearings on two property insurers’ requests for 54% average rate increases, one of which has already affected more than 105,000 condominium unit...
Feb 7 2024 // First came the My Safe Florida Home program, providing matching grants to homeowners who fortify their homes against wind damage in exchange for premium discounts. Seeing the popularity and effectiveness of that program,...
Feb 6 2024 // Arthur J. Gallagher & Co. has acquired Fort Lauderdale-based John Galt Insurance Agency, expanding Gallagher’s presence in the beleaguered condominium and association market in Florida, the global insurance...
Jan 24 2024 // When a Florida Senate committee last week approved a bill that would raise the policy limit on homes that can be written by the state-backed Citizens Property Insurance Corp., state Sen. Doug Broxson said the change was...
Dec 12 2023 // A bill introduced by a Democrat and trial attorney would take a step toward something that property insurers have longed for in recent years – actual cash value coverage on roofs, at least condominium roofs.State Rep....
Dec 1 2023 // (Bloomberg) — A roughly 13,000-square-foot, full-floor penthouse and roof at the Rosewood Residences, a 17-story condo tower designed by Peter Marino in Miami’s South Beach, could soon be the most expensive in...
Nov 27 2023 // Executives at Tampa-based HCI Group, the holding company for Homeowners Choice and TypTap Insurance companies, are having a busy fourth quarter.Just a day after HCI announced that Homeowners Choice had successfully assumed...
Nov 6 2023 // Police in South Fulton, Georgia, have charged the president and treasurer of a large condominium association with stealing more than $1.5 million in insurance payouts after two fires in 2020 destroyed a building.Multiple...
Aug 21 2023 // Shouts, shoves and chaos broke out and police had to be called when condominium owners in Pembroke Pines, Florida, objected to being shut out of an association meeting called to discuss higher fees due to spiking insurance...
Jun 19 2023 // The swimming pool deck of a beachfront South Florida condominium that collapsed two years ago, killing 98 people, failed to comply with the original building codes and standards, did not stick to the original design, and...
Jun 7 2023 // ROCHESTER, Minn. (AP) – Less than a week after an apartment building partially collapsed in Iowa, more than 140 people were evacuated from a condominium in Minnesota after a structural engineer expressed concerns...
May 11 2023 // MADISON, Wis. (AP) – Four people were injured in an apparent explosion at a Madison condominium building Tuesday evening, the city’s fire chief said.One person was taken to an area hospital by ambulance, and...
May 11 2023 // When a bill passed at a December special session of the Florida Legislature required all Citizens Property Insurance policyholders to buy flood insurance, many owners in high-rise condominiums were outraged. Already facing...
May 1 2023 // A south Florida jury has awarded $5.5 million to a woman who sued her condominium association after years of water infiltration and mold that the woman blamed for the death of her longtime domestic partner in 2021.The...
Apr 26 2023 // Residents of a South Florida waterfront condominium that was deemed unsafe during a recent inspection have until Tuesday morning to evacuate.A building engineer conducting an inspection on April 14 for the Majestic Isle...
Apr 3 2023 // The condo association takes on a special level of responsibility because of the unique form of ownership that is the condominium. To make sure we are all on the same footing — a condominium is a form of ownership...
Mar 24 2023 // Two months after Allstate announced that a Florida subsidiary would non-renew 33,000 condominium policies, the company has filed for a 53.5% average rate increase.Castle Key Indemnity Co., which as of year-end 2022 held...