V3 Launches Community Association Package Program

V3 Insurance Partners LLC has launched V3 CAPP+, a new package program for condominium & homeowner associations, cooperative apartments and office condominium associations.

V3 CAPP+ is backed by Hiscox Insurance Co., Inc. The multi-line policy is designed to cover the needs of community associations, insuring the property, crime, general liability and directors and officers needs of targeted community association clients.

Susan Rivera, V3 President and CEO said offering the program in a package approach makes it easier for the board of community associations to buy one policy that addresses all of the typical exposures they encounter.

According to Jason Holmes, V3 Chief Partnership Officer, the V3 form is enhanced to include key property sub-limits addressing community association exposures, such as machinery and equipment breakdown, employee dishonesty, landscaping and elevator collision. “Our D&O section includes enhancements for crisis management expense and privacy event protection to address these emerging risks,” he said.

With limits available up to $50 million, V3 will launch the program initially in the following states: Ariz., Calif., Colo., Conn., Ga., Ill., Ind., Mass., Mich., Minn., Nev., N.J., N.Y., Ohio, Ore., Pa., Tenn., Utah, Va., and Wash.

V3 Insurance Partners LLC is a specialty program administrator offering insurance programs targeted at middle market companies. Its four major practice groups are Internet Workers’ Compensation, Transportation, Professional Lines and Property/Casualty.