Miami developer sues Zurich, Allianz, ACE over $22 million Builder’s Risk gap

700 Edgewater Development, LLC, the company behind Missoni Baia – a 249-unit luxury residential condominium in Miami – filed suit on April 15, 2026, in the US District Court for the Southern District of Florida against four of the industry’s most recognized names. The case centers on what the developer says is an unpaid balance under Builder’s Risk policies issued by Zurich American Insurance Company, Allianz Global Risks US Insurance Company, ACE American Insurance Company, and National Fire & Marine Insurance Company.