OKO Group Affiliate v. Zurich American Insurance Co. et al. (Missoni Baia Builder's-Risk Coverage Suit)
An affiliate of OKO Group sued four insurers, Zurich American Insurance, Allianz Global Risks US Insurance, ACE American Insurance, and National Fire & Marine Insurance Company, in Miami federal court on April 3, 2026, seeking $22.4 million in unpaid builder's-risk benefits tied to foundation settling during construction of the Missoni Baia condo tower. The suit follows a January 2026 lawsuit by the tower's own condo association accusing OKO and roughly two dozen contractors and design firms of pervasive construction defects.
Why it matters
Illustrates how a large builder's-risk claim on a complex vertical project can generate its own protracted first-party coverage litigation running in parallel with, and informed by, third-party construction-defect claims arising from the same damage. Developers negotiating multi-carrier builder's-risk programs should scrutinize how policies define covered resulting damage versus excluded faulty workmanship before a loss occurs.
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