All professional contractors and service providers are required by law to carry insurance to cover their activities. Any condo building should also carry its own insurance to cover accidents or other incidents on the property—this could…
When you decide to run for a board, you’re usually thinking about all the great changes you’re going to make to your building community, along with all the time and effort that you’re prepared to sacrifice for the good of your home. …
I think there’s this mindset when they buy a condo that they’re not responsible for anything,” says Robert Masse of W.T. Phelan Insurance. As a quarter-century veteran of condo insurance, the Arlington, Massachusetts-based Masse has ofte…
Too often, association boards—and condo residents—discover serious coverage gaps in their insurance policies in the face of a claim. And often, the gap occurs when neither group wants to pay a high deductible. In recent years,…
When fraud is discovered in the context of community associations, or any non-profit, it usually takes shape as embezzlement over many years by a trusted member or employee. Insurance companies that defend non-profit clients from fraud…
Insurance sounds like a simple concept: you pay a premium to your insurer, and then when you file a claim, your insurer pays you. Simple. Insuring a condominium or association property shouldn’t be much different than insuring yourself—…
During the 1940s, Willie Sutton developed a lucrative niche of robbing banks. During his unapproved withdrawals, he sometimes made use of ingenious disguises. Those were the days when grand larceny took place in a bank lobby rather tha…
Congratulations. You have been chosen to help lead your community on a small governing body that will determine the major policy decisions affecting everyone who lives in your community. From finances to rules enforcement to selection …
Imagine the panic that sets in when a home is lost or damaged. Now imagine navigating through that fear alone. Whether it’s fire or flooding or the violent effects of a storm, anything that damages or destroys a home will have a lasting…