Cypress Property & Casualty: the denial record

Cypress performed an initial evaluation of the claim and on December 19, 2022, issued an initial payment for undisputed damages for $57,331.85 ($453,802.85 minus deductible and depreciation).

The December 3, [address redacted]ate that while the policy does not cover the roof damage, the ensuing water damages are covered in the amount of $19,238.50 which represents the amount specifically contained within [name redacted] 's estimate, less depreciation and the Insureds $28,560.00 Hurricane

THE DISPARITY BETWEEN CYPRESS' VALUATION AND FAIRWINDS' ESTIMATE OF $188,152.14 HIGHLIGHTS THIS POINT AND DEMONSTRATES CYPRESS' FAILURE TO PROPERLY ASSESS THE FULL EXTENT OF THE LOSS.

Indeed, mitigation invoices for water damage restoration, mold remediation, and plumbing as well as an estimate for repair of all damages were prepared on their behalf totaling $43,071.93 were submitted to Cypress; well above the amount from Cypress.

Despite having extensive knowledge of the foregoing information, Insurer has failed to adjust the claim in a manner favorable to the Insured, despite having the opportunity to inspect the damaged property and there being sufficient evidence of damage.

The Insurer was provided with an estimate; however, the Insurer still failed to properly evaluate this claim and promptly settle although it has become reasonably clear that it should do so.

After providing prompt notice of the loss, Insureds fully cooperated with Cypress's adjustment of the claim, including making their home available for inspection.