Latest Condominium Headlines
All the headlines from our Condominium Topic Page, ordered by recency.
Despite Insurance Costs, Lux Condos Going Up: Miami Tower to Have $150M Penthouse
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...
HCI Execs to Launch Condo Insurance Exchange in Florida After OIR Approval
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...
Georgia Condo Association Leaders Charged with Taking Insurance Proceeds After Fire
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...
Police Respond to ‘Chaos’ as Florida Condo Owners Outraged Over Insurance Fees
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...
Collapsed Condo’s Pool Deck Failed to Comply with Codes, Prelim Report Says
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...
Week After Iowa Building Collapse, Minnesota Condo Evacuated Over Stability Concerns
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...
Four Injured in Explosion at Wisconsin Condominium Building
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...
Flood Requirements, Condo Inspection Rules Revised in Fla. Bills Sent to Governor
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...
South Florida Jury Awards Woman $5.5M from Mold, Water Damage in Condo
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...
South Florida Condo Building Evacuated After 60-Year Inspection
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...
Risk Management Considerations for Condo Association Boards
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...
After Nonrenewals, Castle Key Files 53.5% Increase for Remaining Fla. Condo Policies
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...
Florida Insurance Agent Who Used $5M in Premiums for Safari, Condos Gets 14 Years
Mar 23 2023 // More than 18 months after he pleaded guilty to absconding with almost $5 million in premiums, a Florida insurance agent has been sentenced to 14 years in prison. John M. Thomas, 52, the former owner of Thomas Insurance...
Worker Killed in High Rise Condo Balcony Collapse
Feb 27 2023 // A balcony on a high rise condominium on the New Jersey shore collapsed onto a lower balcony, killing a construction worker, authorities said. Officials in Sea Isle City said the eighth-floor balcony at the Spinnaker...
Ohio’s Branch to Launch Condo Insurance
Feb 9 2023 // Branch, a full-stack insurance company, announced it has launched condo insurance, expanding its list of instantly bindable products. Condo joins Branch’s existing arsenal of home, auto, renters, and umbrella...
Allstate’s Castle Key Plans to Drop 33,000 Condo Policies in Florida
Jan 30 2023 // At least one of Allstate Insurance group’s Florida subsidiaries plans to non-renew 33,000 Florida condominium policies, starting in June. In a notice sent to Florida agents this month, Allstate said its Castle Key...
Risk Strategies Buys Florida Condominium Insurance Agency
Dec 19 2022 // Boston-based broker Risk Strategies announced it has acquired Statewide Condominium Insurance, a Vero Beach, Florida, retail broker focused on the condominium and apartment complex sectors. Founded in 1996, Statewide...
Maryland Condo Explosion That Injured 14 Linked to Suicidal Resident
Nov 21 2022 // A fiery explosion that injured more than a dozen people at a Maryland condominium building was ignited by a resident who intended to kill himself and died in the blast, police said. Authorities found the 36-year-old...
Miami Beach Condo Evacuated After Cracks Worsen in Support Beams
Oct 28 2022 // A 14-story condominium building in Miami Beach, less than two miles from the collapsed Champlain Towers South, has been ordered evacuated after engineers found expanding cracks in a main support beam. The Miami Herald...
Lawyers to Share $70M in Surfside, Florida Condo Collapse Settlement
Sep 1 2022 // Lawyers who secured a $1.1 billion settlement in the deadly collapse last year of a beachfront Florida condominium building were awarded more than $70 million in fees Monday by a judge. The total was less than the...
