Recommendations to Prevent Cyber Theft at your Community

An article titled “Real Threats” in the July/August Community Manager Magazine [Best Practices for Community Association Managers] highlighted the 2018 Survey of Cyber-security in Community Associations by the Foundation for Community Association Research.  To help your board we’ve summarized the main points from the 7 page report and the article in the following recommendations to prevent cyber theft at your community: The Foundation for Community Association Research Surveyed more than 60 community association managers, board members and professionals who support associations to identify the risks and liabilities associated with using technology to conduct association business. Wikipedia defines Cybersecurity as the protection of computer systems from theft of or damage to their hardware,… Read More

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Condo & HOA Collections For Condo & HOA Budget Time

By Mitchell Drimmer, CAM Once a year in every community association the most significant event occurs and that is the formulation of the association’s annual budget. It’s even more important than the annual election because this budget is the road map for how the association is to be run for the next year. The board can decide to on many issues including capital improvements, added amenities, reduced services, and everything in between. However, the one item that always leaves the board and management confused is the disposition of delinquent fees and questionable debt. What can be done to predict the unknown because the more accurate you’re are the more realistic… Read More

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HOA & Condo Collections

The Needy, The Greedy, & the Seedy. HOA & Condo Collections

Not all HOA & Condo delinquencies are created equal and each one has it’s unique circumstances. However, in most cases the delinquent owners can all fall in to one of three categories: The Needy, The Greedy, and The Seedy. The only question remains is: How do we handle these HOA & Condo Collections? The Needy member of an association may have fallen into bad circumstances either due to unforeseen financial events, unfortunate circumstances, or even by circumstances that often happen at community associations. People lose their jobs and sources of income or have their investments go bad due to no fault of their own, their family economy suffers a loss… Read More

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The Two Biggest Mistakes Community Association Make Involving D&O Insurance

The Directors & Officers Insurance policy (“D&O”) is a small part of an association’s insurance coverage and premium puzzle, but it is a critical piece.  It is important because it protects the community members who agree to accept a very often no-win and often thankless volunteer job to manage the association.  Contrary to the other pieces of the insurance puzzle, D&O coverage can differ significantly from insurer to insurer.  There are currently two significant mistakes associations make in regards to D&O policies. The first mistake is price over coverage.  Boards have a fiduciary obligation to manage the association.  This obligation includes the procurement of insurance that is in the best… Read More

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The Attorney Audit of the Community Association Insurance Puzzle

The Attorney Audit of the Community Association Insurance Puzzle By Joel W. Meskin, Esq., CIRMS             You are sitting there surrounded by a couple of octogenarian retirees in Bermuda shorts and black shoes and socks, one a former life insurance agent and another a retired Chicago attorney.  Also around the table is a mother with her nine month old fusing in her lap, a middle aged couple in matching sweat suits and a nice looking young man in a suit.  You pinch yourself and yes it is true, you are sitting in the Bay View Condo Association club house in front of the association’s new board of directors.  You have… Read More

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When Are You Not Covered By Your D&O Policy?

When Are You Not Covered By Your D&O Policy? By Joel W. Meskin, Esq., CIRMS[1] Introduction: The question being posed: “When Are You Not Covered By Your D&O[2] Policy” is really a multipart question. First, where does a community associations D&O policy fall within the entire insurance puzzle? Second, are all D&O policies created equal? Third, how does the community association maximize its coverage? The reason association members ask these questions are because they want to know if the policy covers them for what they do in their volunteer work for the community association.  For example, they want to know if they will be covered for the following type of… Read More

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The Community Association Insurance Puzzle: What the Board Must Do and Must Avoid to Assemble the Puzzle

The Community Association Insurance Puzzle:  What the Board Must Do and Must Avoid to Assemble the Puzzle by Joel W. Meskin, Esq., CIRMS Introduction          A key obligation of the association board is to protect the assets of the association.  One of the primary elements of this responsibility is insurance but many volunteer board members have limited experience with insurance.  They’re only familiar with purchasing personal auto, home and life insurance.  Most know the limits and the price, but few really take the opportunity to understand coverage until they have an uncovered loss.  Many are swayed in their insurance shopping because they are “in good hands” or are protected by “good… Read More

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The Complaint is Frivolous, why should it impact our insurance?

by Joel W. Meskin, Esq., CIRMS w Featured in QuoiUlll, May 2006 It is a groundless complaint; it will go away soon according to our property manager or attorneywhy should it impact our insurance : As an underwriter of Director and Officer Liability Insurance for some 35,000 non-profit community associations, this is a question I hear on a daily basis. The non profit board of directors and officers in our experience do a fabulous job at the task at hand, however, no matter how well nm and govemed an association is, there will always be complaints. As a practical matter, if the insurance canier is involved, expenses will be inctmed.… Read More

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Insured v. Insured Exclusion – What is it all About in the Community Association’s Directors and Officers Policy

INSURED V. INSURED EXCLUSION – WHAT IS IT ALL ABOUT IN THE COMMUNITY ASSOCIATION’S DIRECTORS AND OFFICERS POLICY   By Joel W. Meskin, Esq., CIRMS[1] Copyright © 2009     The directors & officers policy is a critical piece of the community association insurance puzzle.  The community association world includes condos, homeowner associations, timeshares and other entities.  These entities have two items in common.   Membership is based on real property ownership – a condo unit, a single family home, a timeshare interval or a similar “individual property interest.” The second element in the equation is that these individual members have a “common interest” with the other members of the… Read More

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Filing a Successful Claim

Filing a Successful Claim By Joel W. Meskin, Esq., CIRMS Copyright © 2008   No matter how well a community is managed, as sure as there is death and taxes, at some point there will be an incident that will give rise to a lawsuit or claim.  In a perfect world, upon the happening of such an incident, the association would make a single phone call to the insurance company, provide the requested information and the insurer would immediately make a direct deposit for the claim into the association’s account or arrange any other requested solution or remediation.  .   In the real world, the process is not always that… Read More

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