NAT

Virtual Hugs

Physical hugs are a known stress reducer. But, in the professional environment of managers and board members, this could be problematic. It’s easy to feel disconnected when physical contact is limited. This is where virtual hugs come in. Virtual hugs can have an influence on the stress reduction While they may not have the same …

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Expanded insurance requirements mean you need to know about spark arrestors

A spark arrestor is equipment that is put in place that reduces flammable debris like sparks from escaping a combustion source. An example would be a chimney. Some governmental agencies and community associations already require spark arrestors. Now, whether or not your city or town requires spark arrestors, your insurance company may or may soon. …

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Green Bananas and Reserves

The elderly man tells his son he’s running out for bananas. He comes back empty handed and his son asks why. The elderly man says, “They were green, so I did not want to risk wasting money incase I’m gone by the time they ripen.” Unfortunately, some have the same attitude towards reserves. Board members …

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Police want to look for someone on association property – let them in?

During a recent livestream I asked the panel:  If the police want to look for someone on association property, should management let them in? Important: I’m summarizing from my perspective and not offering any form of professional advice. Always seek your own professional advice from licensed professionals. The police show up at the front desk …

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Whales and Gnomes

NY • SC:  Last week we ran two “Real HOA News Stories”livestreams.  We quickly added an unlikely, but interesting scenario: Would your homeowner or condominiun association be covered if a Chinese spy balloon damaged association common property? As always, our insurance professionals gave their typical response — “It depends.”  The “It depends” was varied (I’m summarizing …

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If a spy balloon fell on your hoa

NATIONAL:  We asked insurance professional Dawn Becker-Durnin: If a spy balloon fell and damaged association common property, would it be covered by insurance? Dawn responded, “It depends! For Property coverage, falling objects are covered under specified causes of loss (special form or all risk property policies); however damage to the interior will be excluded unless …

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