Citizens continues to put $$ into defense lawyers coffers while losing $12.7 million sinkhole verdict
Citizens Insurance is spending tons of policyholder premiums to pay its lawyer friends to fight these claims it clearly should be covering!! Citizens hit with a $12.7 million verdict, acted in monumental bad faith and as a result 500 people who own property in this community continue to suffer from a claim that has languished since 2007. It makes me wonder who is running this company, management or the attorneys?
While a victory for David who is battling Goliath, Citizen’s will still appeal this ruling without batting an eye and keep the register ringing for the law firm while the heartache for homeowners will continue for years to come. If Citizens was subject to the same bad faith laws as all other insurance carriers these type of issues might not happen. Wake up Tallahassee!
And if you don’t think this impacts others, Citizens will need to increase insurance rates and premiums on everyone insured by them to cover for these costs all while blaming it on increased water losses and fraud. This is completely egregious!! I hope our consumer friendly Florida Public Adjuster Association and others can lobby for some positive policyholder friendly changes.
Let us know what you think.