Florida Property Owner Made Fraudulent Claim, Insurer Says

An insurer sued a company managing an apartment complex in Fort Myers, Fla., alleging it waited nearly two years to report a $29 million Hurricane Ian claim while concealing damage and misrepresenting facts.

Princeton Excess and Surplus Lines Insurance Co. owes no coverage under the commercial property policy it issued to Aspen FM LLC, according to the insurer’s complaint Thursday in the US District Court for the Southern District of Florida.

Aspen allegedly knew about the damages shortly after Hurricane Ian hit in September 2022, made over 46 repairs in the following months, and obtained a $29.1 million damage estimate, ...