Florida’s Citizens Property Insurance Reaches Agreement With Trial Lawyer Firm on Sinkhole Repairs
Jul 17, 2014
Under an agreement reached between Florida-based law firm Thompson Trial Group, P.A. and Citizens Property Insurance Corporation (“Citizens”), approximately 300 homeowners with unresolved sinkhole claims will receive settlement offers to end litigation, and make critical repairs to their property.
Citizens made the announcement in a news release issued today, July 17, 2014, in which it explained that homeowners who accept the settlement will quickly receive repairs. The State-run insurer speculated that, with these repairs, local communities and future property buyers also would benefit through increased property values with the knowledge that the repairs have been completed professionally.
“After a long fight in the courts and a lengthy negotiation, we are really excited to have finally put in place a settlement opportunity for our clients that is fair and protects their valuable property rights,” said Lee Smith of Thompson Trial Group.
As part of the settlement, Citizens will pay for below-ground repairs recommended by a professional engineer, who also will monitor the work and direct any additional necessary below-ground repairs. Policyholders will choose their below-ground repair contractor from a pre-approved list. Once those repairs have been completed, Citizens will pay for any additional related above-ground damages. Importantly, each Thompson Trial Group client who participates in this settlement will receive a five-year warranty from the contractor who performs the below ground repairs.
“Citizens’ number one priority has always been to ensure the safety of our policyholders by making timely, appropriate repairs to their homes,” said Chris Gardner, chairman of Citizens’ Board of Governors. “This settlement allows us to do just that, providing much needed closure for homeowners on their most valuable investment.”
Citizens explained that, from a defense strategy standpoint, the agreement is expected to avert millions of dollars in potential litigation expenses.
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