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Category: Insurance

Insurance
2020 August Insurance Coverage vs. COVID-19

By its very definition, insurance coverage is planned protection against both the expected and the unexpected. Life insurance clearly provides financial security in the event of death, which of course is an eventual certainty. But at the sa…

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Insurance
2020 February Parsing the Insurance Market

Insurance is cyclical; there are hard markets and soft markets, and insurance companies typically make money in two ways: underwriting profit, and investment income. When the market is soft, insurance companies are looking for market share,…

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Insurance
2019 December Insurance Rates to Rise in 2020

Economists often say that markets love consistency. So do condos and HOAs – and they share that preference for stability with another important group: insurance companies. Residential communities seek to keep their costs stable, and insuran…

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Insurance
2019 August Combatting Kickbacks

Running a community association can be – and often is – stressful enough without the added issue of people in a position of power in the community using that position for personal gain in the form of kickbacks. Whether the offender is a sup…

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Insurance
2019 August Why Managers Quit

Co-op, condo and HOA communities are a property manager’s bread and butter.  Ensuring that their client buildings and associations run smoothly everyday provides managers with both purpose and pay. Therefore, it stands to reason that a dedi…

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Insurance
2019 August Board Transition

Community associations are microcosms of democracy, run by an elected board of volunteers trusted to make good decisions on behalf of the community as a whole. Boards make the call on every large and small issue for their constituency. So i…

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Insurance
2018 August The Chain of Communication

The board of a condominium, cooperative, or homeowners’ association literally exists to serve, and to represent residents’ best interests in the day-to-day business of the association. The relationship between the owner/shareholder and the …

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Insurance
2018 August The Upsides of Board Service

One of the unique things that sets co-op, condo and HOA living apart from living in a single-family home, or even a rental, is the buyer’s choice to live in a community-within-a-community. By purchasing a unit in a particular building or de…

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Insurance
2018 August Responsibility for Repairs

There’s an old adage that ‘insurance is for pessimists’ – but that’s very much not the case. In the world of home ownership, and especially in shared communities, proper insurance is a critical factor in protecting not only your most import…

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Insurance
2018 August The Risks of Being Un(or Under)insured

Insurance can seem like a mundane administrative afterthought – right up to the moment you need coverage. In a community association, just because a responsible board handles the lion’s share of maintaining the policy covering common areas …

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