HOA Wind and Hail Claim – Penalty Interest Recovered $214,500
Case Study
Found Money: $214,500 Recoverable After Carrier Missed Payment Deadline
Total Original Claim Payment: $1,300,000
- Property Type: Home Owners Association
- Peril: Wind / Hail
- Location: Midland, Texas
- Date of Loss: January 2022
- Docs Submitted: December 2022
- Payment Issued: June 2022
- Delay: 11 months
- Interest Rate: 18% Simple Annual Interest
- Penalty Interest Recovered: $214,500
A major multi-structure HOA loss where delays added up. Penalty interest came out to more than $200K — money the HOA was legally entitled to under Texas law. (This example reflects a typical large-loss case reviewed under Chapter 542. Actual results depend on case details.)
