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Case Study: Marco Island Condominium Hurricane Damage

Case Study: Marco Island Condominium Hurricane Damage

After Hurricane Irma came upon Marco Island and made its way north through Naples, in September of 2017, she left a path of heavily damaged structures behind her. One of those damaged properties, within the communities mentioned, included a condominium complex with 87 buildings. This location was an upscale community of luxury condominiums, lush tropical grounds, and was very well maintained. All of the two and three story buildings had cement tile roofs.  

For the first several months after the storm, the condominium association Board of Directors (BOD) patiently worked with its insurer and their “experts” expecting them to identify all of their damage, value its expected cost of repair, then send checks for them to start to fix their buildings. As it turned out, the insurance company only spent 3 days inspecting the 87 buildings. Little did this association know they were in for the fight. 

After many months of waiting for its insurer to make a claim offer with payment, well into 2018, the insurer presented the results of their investigation: the association would NOT be receiving replacement of tile roofs on their 87 buildings. In contrast, the insurance company provided a plan that intended to replace only 5 tile roofs out of 87 buildings, then use any tiles removed from those 5 roofs to “spot repair” any broken tiles on the other 82 buildings. This haphazard patch repair method was completely unacceptable to the association’s Board of Directors, who were charged with the responsibility of making sure that enough money was collected in the insurance claim, so all necessary repairs could be made, restoring the high standards this property had previously enjoyed. The Directors realized the enormity of this responsibility and knew they should seek expert assistance.

The Board hired Altieri Insurance Consultants to shoulder this responsibility, assert a position of association advocate, and provide industry expert leadership through the claim, which is so vital to attain a successful recovery. 

Knowing the association was already months behind in attaining proper financial settlement, Altieri Insurance Consultants immediately deployed several of its personnel to the complex beginning their damage analysis. Altieri personnel were on top of each roof combing it, marking it, and identifying all hurricane related damage from tiles blown off, cracked, chipped, dislodged, or loosened by uplift.  This was an effort required to establish exactly what happened to these roofs. It was determined that we deployed twice as many experts to the property as the insurance company, and spent 3 weeks (not 3 days like the insurer) inspecting these roofs and buildings, assuring this community that we would uncover and quantify all damages related to Hurricane Irma. 

As a result of our efforts, and while insurers tried to patch and “spot repair” their way through the claim by initially paying only $350,000.00 before the hiring of Altieri Insurance Consultants, Altieri was able to confirm full replacement damages to each roof, eliminating any chance for the carrier to force their “spot repair” process on the association. Altieri Insurance Consultants was able to present to the Board of Directors a settlement offer of almost $10,000,000.00.  As you could imagine, the Directors were ecstatic and immediately accepted the offer, allowing them to achieve the successful outcome that they had so badly hoped for, just a few months prior, when deciding to engage the services of Altieri Insurance Consultants.

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About The Author: Raymond A. Altieri, Jr.
Raymond A. Altieri, Jr. - Chairman & CEO

As a property insurance claims professional since 1980, Mr. Altieri leads the firm at Altieri Insurance Consultants in all matters of property claim adjusting and community outreach. His decades of property claim adjusting experience assure the firm’s clients they are well represented, whether they have suffered a multi-million-dollar commercial loss or have lost their home.

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