Category

Community Associations

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:

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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.

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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.

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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.

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number one insurance claim
Real Estate, Hospitality & Restaurants, Community Associations, Cultural Institutions, Risk Insight, Restaurants

Preventing the number-one 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.

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BBQ Safety
Community Associations

Keeping BBQs Safe

Did you know that May is National BBQ month? Burgers are a favorite—whether vegi or beef—but unfortunately, barbecue safety is even more important. 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.

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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.

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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.

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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.

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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.

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Community Association
Community Associations

What Lies Beneath Older Community Association Properties

The community associations for most developments are obligated under their governing documents, which are comprised of articles of incorporation; bylaws; declaration of covenants, conditions, restrictions, and easements; and any other rules and regulations, to maintain, repair and replace items and amenities in the common areas. This involves performing regular inspections and maintenance of heating and lighting in the common clubhouse, maintaining the community pools, and providing landscaping services, among other services.

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Performing Routing Inspections
Community Associations

Performing Routine Inspections – Maintenance Increases Safety at Community Associations

Community associations face a number of security and safety issues – from premises injuries to public security. Under respective state statutes and the association’s governing documents, an association has a duty to inspect common areas, investigate complaints and make repairs. To help clients meet their duties and prevent losses, it’s critical to underscore the importance of performing routine inspections and maintenance throughout the property.

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safety and security for community associations
Community Associations

Tailored Safety and Security Approach Required for Community Associations

Many of the exposures for community associations beyond property damage involve safety and security issues. From premises liability claims, such as slips and falls on the heels of a snowstorm and pool and playground-related injuries, to negligent security incidents, community associations and their boards can find themselves responsible if it’s determined they failed to meet their obligation to prevent harm.

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small business insurance
Real Estate, Hospitality & Restaurants, Community Associations

Risk Management Programs Critical to Help Keep Small Business Insurance Costs in Line

How much small business insurance costs depends on many different factors, including the type of operation and its location, its exposures, the industry served, claims history, etc. The coverage features and policy terms in an insurance program, along with its policy limits, of course, also affect the cost of coverage.  Additionally, today’s firming insurance market is impacting the cost of insurance across the board, including in all industry sectors.

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