Get the facts and information you need to protect yourself and your building
|General Liability||Property||Directors & Officers|
One area that frequently causes confusion between condo associations and their individual unit owners is: which policy covers property damage to the interior of the unit at the time of a loss; will the association master policy come in to play, or should the owner's individual condo policy cover the loss. Condominium owners and the association should be clear on their understanding of the association documents. It is these documents which define to what extent the master policy will cover damage to the interior of the unit.
Managing a condominium association in Connecticut is an ongoing process in which the Directors and Officers of the association have numerous duties for which they can be held responsible. It is most important for the association to consider purchasing Directors and Officers coverage, also known as D&O Coverage. This coverage can provide protection for the Directors and Officers should a law suit be filed as a result of their actions.
Petruzelo Insurance has over 50 years experience helping condo associations understand the risks they face and helping them get the facts and information they need to protect themselves and their building. If you are a member of a condo association in Connecticut, consider speaking to a representative at Petruzelo Insurance so you can ask the questions that will help you make informed decisions regarding your condo association master policy insurance