Condo Association Management Blog

You need to regularly update your condo association insurance

Did you know that Condo Association Directors and Officer's Liability policies routinely exclude insurance related claims? This means that if a condo experiences a large claim and it is discovered that the association did not carry enough insurance on the building the Directors and Officers policy may not provide coverage in the event of a lawsuit. This means that if an association does not regularly update their property insurance to reflect increased values they do so at their peril.