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.