The collapse of a section of a Surfside, Florida, condominium building in which at least 18 have been confirmed dead and 145 are still unaccounted for is likely to lead to protracted litigation that could trigger a widening pool of property and liability claims, experts say.
So far at least four negligence lawsuits have been filed on behalf of surviving residents and family of those missing against Champlain Towers South Condo Association Inc. alleging that it failed to secure and safeguard the lives and property of plaintiffs, and more are expected.
Property coverage for the building was led by Great American Insurance Co. under an all other perils property policy, market sources say. The condo association also had a $5 million commercial general liability policy provided by James River Insurance Co., according to various reports. Both insurers have yet to respond to calls for comment.
About 55 apartment units in