Miami, Florida (PressExposure) March 19, 2012 -- The Continental Group (TCG), a FirstService Residential Management company, will host a historic check presentation to celebrate the successful culmination of years of their efforts on behalf of 65 Independent Condominium Association (ICA) at Kings Point in Delray Beach on March 26th at 11 a.m. at The Continental Group Corporate Offices at 6300 Park of Commerce Blvd. Boca Raton, Fla. The ICA will receive the last of a $30 million insurance settlement from Florida Insurance Guaranty Association (FIGA).
When Wilma hit South Florida in 2005, the Kings Point Delray Beach retirement community as a whole was devastated. The ICA buildings and their 3120 units suffered extensive damages to the roofs, siding, patios, expansion joints and meter rooms. TCG cleaned up the destruction as best they could and suggested to the ICA that they hire a public adjuster to represent them. The fact that the ICA had the FFI-obtained Ordinance/ Law coverage, allowed them to ask to have the damaged buildings brought up to new code requirements. Over the years, repairs had been achieved with materials that were no longer considered safe and, in some cases, were no longer manufactured. TCG and public adjusters Goodman, Gable & Gould (GGG) pursued the insurance company to replace roofs and siding completely rather than perform patchwork and bring everything up to new code requirements. Although board members did not expect to surpass the building's 3% windstorm deductible, they put their faith in the public adjuster and allowed TCG to guide them through the process.
It took three years, but thanks to GGG, Rolyn Restoration Company, CPA firm Gerstle & Rosen and Attorney George W. Bush Jr., FIGA agreed to replace the roofs in June 2008. In addition, over half of the ICA buildings received new siding and/or significant allowances for siding replacement. The process was drawn out because the insurance company adjusters refused to acknowledge the extent of the damages and do what should have been done from the onset. Thanks to the key players' perseverance and the patience and trust that the ICA boards placed in their management company, the ICA received a $30 million settlement for the damages and upgrades needed.
Residents of the ICA now live in safer units that are stronger and better built than before the devastating storm. In addition, the ICA is now able to receive better quality insurance because of the structural upgrades.