Our association received a quote to renew insurance for our Comminity Interest townhome association. Is it ethical to send that quote to another insurance professional to compare information to their quote and to comment whether or not coverage appears to be adequate?
In light of the Palm case, I know that attorneys and accountants have been speaking about it at seminars, but would like to know if there's anything we should be reviewing with our insurance in reference to this case?
Is it necessary to supply the association board ,with an insurance declaration of a homeowners property every year?
We were going to sell our house and the man said it was not built square. Can the insurance company correct this?
A leaky roof caused damage to interior walls and ceiling of a condo unit. Is the Association liable for repairs?
I am a Property Manager of a condo Association. The Board does not understand why they need to carry workers compensation insurance when they do not have employees and only use subcontractors. Can you provide a straightforward explanation that I can provide to my Board?
We are a not-for- profit homeowners association and utility company (water and sewer) we have 72 homes. We have not insurance what kind and how much should we get or don't we need to have it?
If my washing machine or dishwasher or toilet,etc.. leaks into other units, who is responsible for the damage to those units? Do I need to carry some kind of insurance that will cover not only my floors, carpets...but also the other units damage? My current Allstate policy reads:Building Property Protection-$78,400, Personal Property Protection-$20,000, Family Liability Protection-$100,000,Guest Medical Protection-$1,000, Loss Assessments-$1,000(Huh?), Condo Unit Owner's Extended Protection-$10,000(Huh again?)
The state licensing act has risks associated with the complaint process; one risk to PM's is the concern about frivolous complaints being filed against them personally when they are acting on behalf of a Board and a specific association. PM's are being advised to seek representation from counsel if a complaint is filed against them. If the PM is covered under the Assoc. D&O policy, does the D&O provide defense coverage for legal fees for IDFPR complaints?
Directors & Officers Insurance View >
Protecting the Board of Directors and the Association from being named in a lawsuit.
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Protect your Associations funds/assest from theft, embezzlement and computer fraud.
Theft of funds in Associations View >
Protect the Associations funds/assets through these simple procedures.
Community Association Insurance 101 View >
Basics of Community Association Insurance
Cyber Theft Insurance View >
Theft of funds through computer fraud!
Protecting your association in a volatile insurance market View >
Tips for protecting yourself & your
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Impacts on Insurance in Difficult Financial Times View >
This financial crisis is how these issues affect the insurance market, and how those issues affect us as consumers.
Foreclosures & Properly funding the Association View >
How to properly protect the Association from foreclosures
Insuring to full value View >
Insuring to 100% of the value and why. Properly valuing your associations property.
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