Hurricane Insurance Claim Update

The information below is confidential.

Please do not discuss outside the Moonspinner homeowner community.


May 18, 2019


So here is the latest on the Hurricane Michael insurance claim.


We received the draft claim last weekend, somewhat reviewed it, and sent it out to Board on Monday, 13th. Errors were found, and we met with Pat Garrett and George Atchison on Thursday afternoon. Errors were corrected, and a final version was received late Friday afternoon. I had received a hardcopy via Fedex on the previous Saturday – a full box of paper said to be over 2,000 pages.


The claim is extremely detailed – as I would expect – and to me is convoluted in its organization and presentation. I have spent many hours with it, and I would not say that I have it figured out.


We have to remember that this is a claim that most likely in no way represents what the insurance company will finally honor. Also, this is Moonspinner business, and we should treat it as such and not share it with the rests of the world – not dollar amounts or our personal opinions.


The bottom line of the claim is $23,777,032 (ACV) before the $750K that we have already received.


This claim amount included money that we have already spent – about $291K, complete building envelope replacement on 3 sides A, B, and C, and complete 4-side waterproofing/repaint, building envelope replacement on Dinnich, all new windows, all new sliding glass doors, all new roofs, and funds for interior damage as estimated by NAIC.. In short, we are claiming for practically new building exteriors.


This Proof of Loss will be signed with the Board’s approval, and returned to NAIC, who will deliver the completed claim to the insurance adjuster. According to Florida statutes, they then have 60 days to answer the claim. Garret stated on Thursday that the adjuster is anxious to move forward, and he predicts a much more rapid response, beginning with more visits to the Moonspinner for inspections. From there, we do not know what the adjuster will recommend/do.


Meanwhile we need to start planning what we will do to make repairs, in what order do we do it, and when do we start. I recommend that we not start anything until we have some indication of when/how we settle. Approval for white windows ? change building color(s) ? walkway covering if not carpet ?


We also need to think about how we go forward with approval of any potential settlement.


Bob Reeves

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