The experts who advise condo associations on insurance matters admit that the basic policies are pretty standardized and often seem to be all the same. Trustees may tend to gloss over the details and assume that anything important relative…
Ahhh, lawsuits. People suing people. Companies suing companies. People suing companies. Residents suing boards. A quick surf of the Internet and you can find many instances across the country where condo boards are sued. You can also find …
Flood” might as well be synonymous with “dread.” Or “mess.” Or “insurance hassle.” Think back to the devastating footage after Hurricane Sandy, and you may have a number of questions about flood zones and flood insurance. Knowing the…
Surprise. Surprise. The major storm events we’ve experienced in New England may give condo owners and trustees a very good reason to look at the insurance coverage for all of their association properties. While protection for major inci…
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—…