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Board authorizes contingency-fee contract to pursue insurance-recovery claims
Summary
Trustees approved entering a contingency-fee agreement with law/claims firms and Max Claims to review district property for storm-related insurance-recovery claims; presenters said there is no upfront cost and contingency fees (subject to Attorney General approval) typically cannot exceed 35%.
A representative for proposed counsel and claims consultants described a contingency-fee contract intended to identify and pursue insurance-recovery opportunities after a registered storm. Presenter Daniel Garcia said approval would allow the team to obtain district insurance policies, perform assessments (including drone roof inspections) and pursue covered claims; he said there would be no upfront cost to the district and that contingency-fee arrangements are subject to Attorney General approval and statutory limits.
Trustees asked clarification questions about fees and timing; presenters said the Attorney General must approve contingency arrangements and that a claim assessment could take roughly two months. A motion to approve the contingency-fee contract and allow the superintendent to execute the agreement was moved, seconded and carried.
