The recent Florida Supreme Court’s decision in QBE Insurance v. Chalfonte Condominium Apartment Association raises significant concerns for insurance policyholders in the state of Florida. On May 31, the Florida Supreme Court rendered decisions on multiple highly disputed issues of first-party property insurance law. Although legally sound, the result leaves property owners increasingly susceptible to foul play at the hands of insurance carriers.
Before Chalfonte , Florida law had long recognized that the obligation to act in good faith and deal fairly is implied in every contract. That is no longer the case, at least with respect to insurance policyholders, as the court held that Florida law does not recognize an insured’s right to bring a cause of action against its insurer for breach of the implied covenant of good faith and fair dealing.
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