Condominium Associations

Following a major loss event, like a hurricane, insurance companies usually receive a higher volume of reported claims. When an insurance company is overwhelmed with the number of claims, the loss event is remotely located, or specialized knowledge is required, it generally hires independent adjusting firms to prepare an estimate of the damage. In adjusting insurance policy claims, independent adjusters represent the interest of the insurance company and prepare estimates at their direction.


Continue Reading Determining Whether the Insurance Company’s Estimate is Fair and Accurate

When damages occur in condominiums a frequent dispute is how to determine if damages will be covered under the unit owner’s insurance policy or under the Board’s insurance policy for damages in common areas of the condominium. For example, in National Insurance Company v. Seguros Triple S,1 the Puerto Rico Appellate Court discussed this issue when water that escaped from a damaged bathroom of one of the unit apartments caused damage to the electric panel of the elevators of the condominium.


Continue Reading Puerto Rico: Liability of Unit Owners When Damages Extend to Common Areas of Condominium vs Subrogation Clauses

On March 14, 2018, Caribbean Adjusters International hosted the “Condominium Insurance Forum” at the Marriott Hotel in San Juan, Puerto Rico. The forum was divided in two groups of panelists formed by adjusters, brokers, producers and local attorneys with special guest speakers such as Puerto Rico’s Insurance Commissioner (via Skype) and our own William “Chip” Merlin. Important topics were discussed related to claim issues for condominiums on the island.


Continue Reading Caribbean Adjusters International Hosted Condominium Insurance Forum in Puerto Rico

Some Florida condominium association board of directors might find themselves in the situation where they have adopted special assessments to pay for repairs related to Hurricane Irma. This might occur if the condominium’s master policy covers a loss, but the damage exceeds the coverage available in the building insurance policy. In this situation, the association may seek from individual unit owners a shared portion of the coverage that the underlying association insurance was insufficient to cover.


Continue Reading Loss Assessment Coverage for Florida Hurricane Irma Damages

Continuing my state-by-state review of mandatory condominium insurance requirements, this post will look at the Mountain State, West Virginia, whose motto is Montani semper liberi (Mountaineers are always free).


Continue Reading Is Your West Virginia Condominium in Compliance with the Law? Mandatory West Virginia Insurance Requirements