Fla. Condo Group, Insurer Settle $25M Sinkhole Loss Suit

Law360 (October 30, 2019, 4:40 PM EDT) -- Philadelphia Indemnity Insurance Co. has reached a settlement to resolve a Florida condominium association's breach of contract suit over the insurer's refusal to cover a $25 million claim for alleged sinkhole damage, according to a notice filed Wednesday.

Autumnwood Grove Condominium Association Inc. informed a Florida federal court in Tampa of the parties' agreement to resolve its September 2018 lawsuit, and U.S. District Judge Charlene Edwards Honeywell entered an order administratively closing the case and giving the parties 60 days to finalize the deal.

Details of the agreement were not immediately available Wednesday. The complaint asked the district court to award...

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