condominium insurance News

Burst Sewer Pipes, Condos, and Coverage

We had an interesting question come in this week so I thought I would address it publicly. I’ve edited the question for space and to avoid disclosing any identifiable details. “I live in a condo building. A sewage pipe burst, …

Mixing Up Occupancy for Commercial and Residential Properties

There is a trend in residential construction to build condominium communities that go beyond the traditional amenities we’re used to. We are accustomed to work out rooms, pools, game rooms and the like in communities. What we see today also …

Finding the Missing Pieces in the Condo Insurance Coverage Puzzle

Have you ever watched someone try to finish a jigsaw puzzle with pieces missing? There are still a few hundred pieces to place, but there is one open space in the middle of a grove of trees that beckons to …

South Carolina Jury Awards $890K to Man Wrongly Accused by Condo Board

A Clarendon County jury has awarded $890,000 in damages to a man after members of the governing board at his condominium wrongly identified him as a registered sex offender. James E. King thinks the situation stemmed from a dispute with …

Advanced E&S Group Adds Maintenance Interruption Coverage for HOAs

Managing underwriter Advanced E&S Group has launched a business income policy for community associations that includes maintenance interruption insurance designed to help condominium and homeowner associations reduce their exposure to loss of assessment income. As community associations prepare their budgets …

10 Things to Know About Condominiums

1. To adequately insure one’s condo apartment, it is important to review the condo association’s bylaws and proprietary lease to find out which structural parts of the condo units are covered by the association and which are not, the Insurance …