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Wow get a hold of this story from the Insurance Journal:
Police Respond to ‘Chaos’ as Florida Condo Owners Outraged Over Insurance Fees
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 premiums.
Fortune magazine and WTVJ TV news reported that hundreds of residents showed up for the meeting at Century Village condominiums last week, but many were turned away and the doors were locked when officials said the meeting room was full. One resident said that a security guard forcibly threw an elderly gentleman to the curb “like a ragdoll.”
More than a dozen Pembroke Pines police officers were called to the clubhouse. No one was arrested and no major injuries were reported, the news outlets said.
The condo owners said they were outraged by a recent notice from the condo association that fees would climb as much as $200 a month, and possibly more, to cover property insurance premiums. It’s the latest fallout from Florida’s property insurance crisis, which has led to a dozen insurer insolvencies in the last three years and huge premium increases for many homeowners across the state.
While the Florida Legislature late last year and early this year approved major new laws designed to curb litigation costs for insurers, many have said it will take 18 months or so to stem rate increases. Some in the industry have predicted that premiums may stabilize but will never decline.
The Century Village residents, many of them retired, said the new fees are on top of $700 in existing association fees. The costs are forcing some owners to sell and move as soon as possible, the news outlets reported. One resident said he put his unit on the market just 10 minutes before the meeting began.
Police Respond to ‘Chaos’ as Florida Condo Owners Outraged Over Insurance Fees
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 premiums.
Fortune magazine and WTVJ TV news reported that hundreds of residents showed up for the meeting at Century Village condominiums last week, but many were turned away and the doors were locked when officials said the meeting room was full. One resident said that a security guard forcibly threw an elderly gentleman to the curb “like a ragdoll.”
More than a dozen Pembroke Pines police officers were called to the clubhouse. No one was arrested and no major injuries were reported, the news outlets said.
The condo owners said they were outraged by a recent notice from the condo association that fees would climb as much as $200 a month, and possibly more, to cover property insurance premiums. It’s the latest fallout from Florida’s property insurance crisis, which has led to a dozen insurer insolvencies in the last three years and huge premium increases for many homeowners across the state.
While the Florida Legislature late last year and early this year approved major new laws designed to curb litigation costs for insurers, many have said it will take 18 months or so to stem rate increases. Some in the industry have predicted that premiums may stabilize but will never decline.
The Century Village residents, many of them retired, said the new fees are on top of $700 in existing association fees. The costs are forcing some owners to sell and move as soon as possible, the news outlets reported. One resident said he put his unit on the market just 10 minutes before the meeting began.
