The 2004 and 2005 hurricanes have caused widespread damage in almost every region of our state. Many condominium communities have been burdened with significant damage and have been struggling with their insurance companies to get their claims paid to start rebuilding.
As Florida’s Chief Financial Officer, and head of the Florida Department of Financial Services (DFS), I want to share information with you about a new program that may help condominium communities successfully resolve outstanding hurricane claims.
During the 2005 session, state lawmakers passed legislation to expand our department’s mediation program to condominium associations. Set up in 2004, the mediation program has helped more than 11,000 homeowners reach a satisfactory settlement on their hurricane claims.
In partnership, the Department of Business and Professional Regulation is assisting DFS to urge condominium associations to participate in the mediation program and help facilitate prompt and fair settlement of outstanding claims.
Our mutual goal is to offer a no-cost dispute resolution alternative to resolving hurricane claims and to help with recovery from catastrophic damage.
I encourage participation in this process. Linked above are materials that help explain how the mediation process works and what actions must be taken to have a successful mediation.