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Insurance
Filling the Gaps
Afire sweeps through a row of condominiums, some of them partially-built units
that were caught in the financial downturn. What happens when empty condo
units, finished or otherwise, suffer damage? Who pays to rebuild them?
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Stormy Weather
The scenes are indelible: uprooted trees strewn across roadways. Windows broken. Streets flooded. Roofs torn from the homes they were designed to protect. Hurricanes are chaos machines, generating fear and destruction wherever and whenever they strike. Their after-effects can reverberate thousands of miles away and for years after they hit, especially when it comes to insurance coverage. Read More
Riding Out the Storm
As homeowner insurance costs continue to escalate in the coastal regions of New England, it has become harder to successfully wade through the morass of deductibles and
policy lingo on storm insurance coverage. But with a little knowledge and
shopping around, you can balance adequate coverage with reasonable expense,
leaving your condo sufficiently protected when storms darken the horizon.
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Understanding Your Condominium's Insurance Policy
For people with no experience in managing a community, understanding the fine print and the more obvious aspects of a building's insurance policy often can be a challenge. To the uninitiated, it sometimes may seem like the details of one's coverage were written to be deliberately confusing to anyone excpet insurance industry insiders. Read More
Injured on the Job
The roof of your condominium survived relatively unscathed through yet another
New England winter (OK, there was that one leak), but the condominium board has
unanimously agreed that it's time to reshingle.
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Protecting the Board
Say you’re a new association trustee in your condo. It’s a great honor—you’ve been recognized as a leader, and now you can try to put some of your ideas into effect. However, in your new position, you could now be sued because of your fiduciary responsibility. Read More
Missing Money
With the economy in the throes of the worst financial crisis in decades, it’s no wonder that the world’s second oldest profession – thievery – is on the rise. The nefarious Bernie Madoff and others of his ilk have highlighted the
vulnerabilities of all businesses to criminal activities, even ones that have
been, historically, safe – including condominiums.
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Insuring Home and Hearth
The importance of insuring one’s personal property is rarely grounds for debate, as people regularly make out
checks in varying sums for policies they hope they will never have to make use
of. And in theory, the concept is simple: You buy insurance, something is
damaged, insurance pays for the damage.
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Provincetown Massachusetts
Pop quiz: Where did the Pilgrims first land in America?
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Q&A: Clubhouse Rental Results in Legal Exposure for HOAs
I live in a 133-unit HOA with a nice clubhouse. The residents of the HOA are allowed to rent out the clubhouse. My question is, can a clubhouse be rented out to persons not living in the community? We are looking to bring in a little extra income. However, our insurance company will not cover us if we choose to do this, and wants to charge us extra per day to be able to rent out the clubhouse. What if a certificate of insurance was provided by the party renting the space? What are the possible liability issues? Read More
