Category

Community Associations

trick or treat safety tips for community associations
Community Associations

Trick-or-Treat Safety for Community Associations

While individual homeowners may choose to partake in Halloween festivities however they see fit, community association owners have a responsibility to try to minimize the spread of COVID-19. The most widely-known Halloween activity — trick-or-treating — is expected to look different this fall in the wake of the pandemic. Below are a few trick-or-treat safety tips to share with community association members to ensure a safe night for all.

Continue reading
step up measure to protect against fraud
Community Associations

Community Associations: Step Up Measures to Protect Against Fraud and Other Crimes

Fraud, embezzlement, and other types of employee theft are among the biggest exposures community associations face. Exacerbating this significant risk is that it typically takes 18 months before the average fraud scheme is detected. What’s more, often the theft involves small amounts taken over a long period of time, which goes unnoticed but results in the accumulation of massive losses.

Continue reading
fire prevention safety tips
Hospitality & Restaurants, Community Associations, Risk Insight

Fire Prevention Safety Tips

While deaths from fires have steadily decreased over the past several decades, thousands of Americans die by fire every year, and thousands more are injured. According to FEMA estimates,  the damage from fires cost over $25.6 billion in 2018 alone. Following a summer of record-breaking wildfires, comes the peak time for fire-related deaths: the winter months. Fire prevention week —last week, October 4 -10, 2020 — is the perfect time to review and practice fire safety.

Continue reading
preventing slips trips and falls
Real Estate, Hospitality & Restaurants, Community Associations, Cultural Institutions, Risk Insight, Restaurants

Preventing the Top Insurance Claim: Slips, Trips, and Falls

Year after year, slips, trips, and falls remain the number-one insurance claim for property owners. More than three million people visit the emergency room each year because of falls, according to the CDC (Centers for Disease Control and Prevention). The average hospital visit costs $30,000 to $50,000. Add in factors like ongoing medical bills and lost wages, and the cost of claims mount. Serious slip-and-fall losses, in fact, have plagued the habitational and hospitality sectors, with negligent awards running into the millions. Yet most if not all of these claims are preventable.

Continue reading
labor day safety for restaurants and community associations
Hospitality & Restaurants, Community Associations

Labor Day Safety for Restaurants and Community Associations

Labor Day is just around the corner, which means it’s the perfect time to kiss summer goodbye and host a socially-distant event at your restaurant or community association. By now, you probably have a strict list of health and safety guidelines set in place to prevent the spread of COVID-19 during these unprecedented times. But if you are planning on welcoming guests for a get together this Labor Day weekend, it’s important to acknowledge a couple of less-obvious risks: the liabilities presented when serving alcohol or inviting community members to cook out on the grill.

Continue reading
Community Associations

Keeping BBQs Safe

Summer heat and barbeques go hand in hand. But unfortunately, with those tasty meals comes an increased risk of fire and accidents. Fire departments respond to more than 10,000 incidents per year related to the home BBQ setup. Reviewing grill safety is essential year-round, but especially so during prime barbecuing months.

Continue reading
pool and spa safety
Hospitality & Restaurants, Community Associations, Risk Insight

Pool and Spa Safety

While some community association pools remain closed, others are open, under new, socially distant protocol. Ensuring that residents are safe from COVID-19 is likely at the forefront of community association owners’ minds, but the possibility of an injury caused by unsafe pool and spa practices is still an important consideration. In addition to a full-coverage insurance package, taking precautionary measures to prevent future injuries from occurring is imperative. Here are a few safety tips to share with your insureds who are opening outdoor aquatic facilities this summer:

Continue reading
Cyber Attacks as Businesses Go Remote
Real Estate, Hospitality & Restaurants, Community Associations, Market Insights, Risk Insight, Cyber Liability

Digital Thieves Ramp Up Cyber Attacks as Businesses Go Remote

Hacking activity is up, with cybercriminals taking advantage of remote work vulnerabilities amid the COVID-19 crisis. There are approximately 85 million Americans working from home. In fact, researchers cite that activity against corporations in the United States more than doubled by some measures in March, with malware infections, phishing tactics ,and ransomware running rampant. That’s because it’s harder to protect data when managed on home computers that use widely varying setups and on company machines connecting remotely.

Continue reading
community association pools
Community Associations

The Deep Dive Into COVID-19 and Community Association Pools

Temperatures are rising and the summer heat has everyone looking for a reprieve at the beach or poolside, including at community associations where residents and their guests are accustomed to taking advantage of this cool, liquid amenity. But not all board members and property managers took the plunge and opened their pools at the same time, according to a recent survey conducted by the Community Associations Institute (CAI). In fact, some pools at HOAs and condo complexes around the country are still off-limits.

Continue reading
umbrella insurance market
Real Estate, Hospitality & Restaurants, Community Associations, Market Insights, Restaurants

Navigating Today’s Umbrella Insurance Market

In our previous article, we discussed what factors are driving rate increases, capacity restrictions, tighter underwriting, and program structure changes in the Excess Insurance market. It’s important to note that prior to the COVID-19 pandemic, carriers were already tightening underwriting in the Excess/Umbrella market, specifically in the hotel, restaurant, and habitational sectors. In recent months, however, these changes have become even more pronounced. Here we take a more detailed look at the firming market and how COVID-19 has impacted certain industry sectors. We also provide you with advice on how to manage client expectations and navigate the disruptive Excess/Umbrella insurance market.

Continue reading
mitigating Covid-19 Outbreaks
Community Associations, Risk Insight

Mitigating COVID-19 Outbreaks at Multifamily Buildings

The COVID-19 death toll now tops 14,000 nationwide with officials warning that within the next weeks we could experience an even more alarming rate of infections and deaths. As more cases arise across the country, it’s critical that apartment owners, condominium associations, and HOAs continue to take precautionary measures to help stop the spread of the virus.

Continue reading
Crisis Management
Real Estate, Hospitality & Restaurants, Community Associations

Preparedness Leads to Successful Crisis Management

Property owners face many different types of risks, including liability events that can result in media scrutiny and negative publicity, reputational damage, and additional loss of revenue. From a pool drowning at a condo to sexual assault in an office-building elevator, a deadly shooting at a mall, or allegations of tenant discrimination at a co-op that results in a multimillion-dollar lawsuit, without the right crisis management in place, a company’s potential liability can escalate in the wake of an incident.

Continue reading
Crisis Response Coverage
Real Estate, Hospitality & Restaurants, Community Associations

Understanding the Importance of Crisis Response Coverage

From a balcony collapsing at an apartment complex to sexual assault in an office building, the fallout from catastrophic events can quickly draw media attention. Property owners and managers must take action immediately to minimize reputational damage and protect their financial welfare. If not handled properly, losses to the company can be devastating.

Continue reading
Cyber Threats
Community Associations, Cyber Liability

Spotlight on Cyber Threats for Community Associations

In a recent article, “Data Defense,” published in Common Ground magazine, Pat Bruen, Product Manager for Distinguished’s Community Association Program, provides valuable insight on the various cyber threats HOAs, condo associations, co-ops and PUDs face. These community associations in their day-to-day operations handle and store confidential, personal identifiable information, such as homeowner names, addresses, bank account information, credit card numbers, and Social Security numbers – all vulnerable to data breach exposures and other types of cyber attacks.

Continue reading