Condominium Associations

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.


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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.


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One of the most frequent questions posed to us surrounds the requirements surrounding notice of membership and board meetings. While the Colorado Common Interest Ownership Act does not require notice of board meetings to membership, Section 38-33.3-308(1) does outline certain requirements with respect to notice of annual or special membership meetings of the unit owners. Therefore, it is important to understand the specific requirements of the Act with regards to notice of these meetings.


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