In the wake of recent natural disasters and the evolving landscape of insurance legislation, it’s imperative for property owners, community association boards, and business owners to reassess how they approach insurance claims. This is especially true for community association boards, where the responsibility to protect the financial interests of their communities is paramount. The recent misleading data about lawsuits leading to anti-consumer insurance legislation, combined with the alarming delays and unethical practices in claims processing post-Hurricane Ian, underscore the need for professional guidance right from the onset of a loss. In light of recent events and discoveries in the insurance industry, it’s time to ask a critical question: “As a community association board, are you fulfilling your fiduciary obligations without the representation by a public adjuster in property insurance claims?”

UNDERSTANDING THE REAL FACTORS BEHIND CHANGING INSURANCE MARKETS AND THE IMPORTANCE OF PUBLIC ADJUSTERS

By Matthew Sengsourinh, President of GlobalPro Florida

In recent times, there’s been a lot of discussion around the rising costs and changing dynamics of the property and casualty (P&C) insurance market. As someone deeply involved in both construction and insurance industries, I’ve closely followed these trends, including the misleading data often circulated and the enlightening findings of recent studies, such as the J.D. Power report. My experience has consistently shown that policyholders need strong advocates, particularly public adjusters, to protect their interests, especially in the wake of a loss.