Working With Insurance Agents

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The Need for Professional Liability Insurance for Architects, Engineers and Construction Managers

There are numerous insurance risks associated with every construction project, however, one of the most important policies is all too often overlooked by architects, engineers and construction managers. While many construction firms will do what they can to ensure they

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When To Call In The Professionals To Advise Your Board

Common areas of a community are vitally important. Not only do they ensure a better quality of life for residents, they also help the resale value of properties. So it makes sense that two of the most important duties of

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Does your community’s relationship with your insurance agent qualify as a “special relationship”?

Does your board consider itself “special” in the eyes of your insurance agent? Do you believe your agent has a duty to advise you whether or not the coverage you are purchasing and the limits you are seeking are sufficient?

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Filing Insurance Claims: Choosing Wisely Can Save Money

Boards and associations, just like individuals, carry insurance coverage to protect them from liability, loss and other financial and legal problems, although the issues may be a little different than the typical auto or single-family homeowners’ insurance. But deciding when,

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Insuring Winter’s Woes: Dealing with the Problems of Ice Dams

The birds are chirping, the trees are plush and green, and the beaches are lined with people. The record-breaking winter of only a few months ago, when inch after inch of snow piled up in New England, causing trouble for

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How to build an effective community association team

Community associations are run by volunteer boards, but even the best ones can’t do the job alone. They need a team of professionals to guide them through the thorny maze of communal living.    Read the article………

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Insurance Complexities Create Challenges and Liability Risks for Condo Boards and Managers

“My condo community is insured for full replacement value,” the board’s president announced confidently. “Our manager assures us,” he added, “that we have all coverage we need.” I hear these confident assertions often, and they make me shudder. Many condo

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Does Your NC Property Owners Association Need Workers’ Compensation Insurance? Yes!

The North Carolina Workers’ Compensation Act (“Act”) requires all employers with three or more employees to carry workers’ compensation insurance. The purpose of this requirement is to ensure that employees injured by an accident while working have a safety net

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Miscommunication and Missed Insurance Payment Could Cost Condo $24 Million

Lido Beach Towers, the historic, 184-unit complex in Nassau County, Long Island, is appealing a decision by the Federal Emergency Management Agency (FEMA) that resulted in the condominium receiving only $8 million in flood-insurance coverage despite suffering what FEMA acknowledged

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Homeowner Associations and Insurance Problems

One of the all too frequent occurrences in common-wall homeowner associations occurs when a gap exists between insurance carried by the association and insurance carried by each homeowner. This is not a small problem. According to Murphy’s Law: If there

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So You Have an Insurance Claim?

Do the words, “my ceiling’s collapsed” and “water is pouring in” strike fear into your heart? Does the thought of dialing the insurance claim hotline for yet another claim give you a sinking feeling? Well, fear not. Take it from

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7 Common Mistakes Made By Agents

As anyone that specializes in associations can tell you, condominium and homeowners associations have many unique issues. The same is true for the insurance they require. These associations are not like any other commercial entity in many ways. It takes

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HOA Insurance Glossary

Cost of replacing damaged or destroyed property with comparable new property, minus depreciation and obsolescence. For example, a 10-year-old sofa will not be replaced at current full value because of a decade of depreciation      Read more…….

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