Charlotte Allen is our resident blogger, self admitted fashion failure, addict of all things colorful (particularly hair dye), and wannabe home chef. She turns anything she touches into pure fun so leave it to her to pursue an interactive blog about all things insurance, and somehow make it exciting! “Ask Charlotte” gives you a chance to ask those burning insurance questions. If your question is featured in a blog your entire office will receive a delivery of fresh donuts or bagels (your choice). Please click here to submit your questions, no topic is off limits.
Insurance: How Does a Board Ensure Both The Association and Unit Owners Are Complying?
"It is one thing to have requirements for owner insurance in the CC&Rs, obviously an important matter these days as such things as wildfires increase risk to entire communities. But it is another thing to assure compliance. Declarations from companies...
What Is a Broker of Record Letter?
A broker of record letter (BOR) is a document a board member or community manager (if applicable) can sign, that identifies one broker as the representative for an insurance policy. Signing a BOR in favor of a broker, gives that broker sole authority over the policy...
How To Deal with Insurance Recommendations
Q: Recommendations can be a point of frustration. Sometimes we find ourselves surprised by recommendations after an insurance carrier inspects our properties. Any advice on how to avoid or get through them painlessly?A: When a carrier starts insuring a property, an...
Loss Assessment Coverage and Earthquakes
Individual homeowners policies, whether HO-3 (single family unit), HO-4 (landlord policy) or HO-6 (residing unit owner in a condominium or townhouse) can provide loss assessment coverage. Loss assessment coverage will pay for an amount of special assessment a unit...
Recognizing a D&O claim
When does a threat, complaint or situation become serious enough to warrant a D&O claim? This is by far one of the toughest things to consider as a Board Member or Community Manager. As your broker, we take a very conservative approach. We’ve seen numerous...
Why should an Association purchase a workers compensation policy if they have no payroll or employees?
Answer: Associations should carry workers compensation even if they do not hire employees. Despite an association’s lack of employees or any direct payroll, the association may still be held liable and deemed an employer in some situations. Several recent court...
How often should building coverage limits be reviewed?
Jason Brown of Homeowners Management Company, LLC asks “How often should building coverage limits be reviewed?” Great question. My personal opinion? Annually. Each and every time an association’s policy renews, building values should be reviewed. There are several...
Why do you always ask for loss run reports?
Our first question comes from Ann Marquis Fisher with Deer Oaks Association. Ann asks “Why do you always ask for loss run reports?” This is a great question and I imagine something that causes extra work for our clients and may seem unnecessary. Requesting loss...
