The condominium association insurance or HOA insurance sector is particularly vulnerable to insurance premium hikes. Unit owner assessments, the market value of a condo, and other variables are impacted not just by hurricane activity itself, but by the financial aftermath of increasing condominium association insurance premiums. As rates continue to fall, a pessimist would note that we are just one large storm away from a similar reaction by the insurance industry.  2004 & 2005 combined to equal over $100 billion in insurable losses and now rates are quickly approaching 2004 levels. For now, condominium association insurance premiums are falling as unit owners of condominium associations hope for a continued slide in premiums, which is expected as we enter 2008.