HOAs Should Have Both “Directors & Officers” Insurance and “Crime/Fidelity” Insurance
HOAs Should Have Both “Directors & Officers” Insurance and “Crime/Fidelity” Insurance Notwithstanding the fact that state statutes and homeowners’ association governing documents contain specific provisions regarding insurance coverage that is necessary, it is...
CONDOMINIUM OWNERS NEED TO HAVE THEIR OWN INSURANCE POLICY
CONDOMINIUM OWNERS NEED TO HAVE THEIR OWN INSURANCE POLICY A common mistake made by condominium owners is not having condominium owners’ insurance. This content is for Subscribers. To continue reading, you must have a Subscription with HOA Member Services. Click here...
HOA Concealment of Threatened Lawsuit Results in Loss of Insurance Coverage
HOA Concealment of Threatened Lawsuit Results in Loss of Insurance Coverage This case involved a dispute between a California homeowners association (“Association”) and its management company on one hand, and Association’s liability insurance carrier (“Insurance...
Misrepresentations to Insurance Carrier Cost Association Over $700,000.00
Misrepresentations to Insurance Carrier Cost Association Over $700,000.00 United States Court of Appeals decision (February 7, 2020). The case involved a dispute between a condominium owners association (“Association”) and its property insurance carrier (“Carrier”)...
What HOA Directors Should Know When Making Decisions Not to Have Earthquake Insurance
What HOA Directors Should Know When Making Decisions Not to Have Earthquake Insurance The recent 7.0 earthquake in Alaska has brought to light the importance of homeowners associations having proper insurance coverage when a catastrophic event occurs. Unfortunately,...
