As Seen In: Daily Business Review ‘Witch’s Brew of Swelling Insurance Costs and Regulation Compliance Creates Distress for Florida’s Community Associations’
By Kluger, Kaplan, Silverman, Katzen & Levine, P.L. August 29, 2023
“It is just a witch’s brew of all of these things that drive the premiums and drive the litigation, which in turn drives increased premiums again.”
Kluger, Kaplan, Silverman, Katzen & Levine, P.L.’s Steve Silverman spoke with Alexander Lugo of the Daily Business Review about the effects of rising insurance premiums and recent legislation passed post-Surfside on local HOAs and condo associations.
‘Witch’s Brew’ of Swelling Insurance Costs and Regulation Compliance Creates Distress for Florida’s Community Associations
By: Alexander Lugo
Cost pressures are starting to be felt among community associations across Florida as rising insurance premiums and zoning code compliance costs hit their budgets, according to local attorneys.
Following the Champlain Towers collapse, Florida passed laws to avoid similar tragedies by tightening restrictions on building codes and forcing more thorough inspections. But those inspections are only supercharging the already rising cost of insurance premiums for some community associations, fueling more work for lawyers in the space.