Habitational and Community Association Risks
Protecting Owners & Managers with Risk & Insurance Solutions
Navigating the complex landscape of risks for commercial and residential properties is a formidable challenge. It demands specialized expertise to effectively manage legal, regulatory, lender, property management, and board-related exposures. Truska Insurance's specialists provide tailored insurance solutions that deliver significant financial impact for condominiums, homeowners, and community associations. Whether your properties are in urban, suburban, rural, coastal, or catastrophe-prone areas, our habitational insurance and community association practice is designed to safeguard against industry-specific risks and drive enhanced profitability.
We provide coverages designed to control costs and protect assets, including:
- Property Insurance
- Comprehensive General Liability
- Directors and Officers' Liability
- Workers’ Compensation
- Fidelity Bond (Employee Dishonesty) Coverage
- Crime and Fraud Coverage
- Environmental Liability
- Wind, Earthquake, and Flood Insurance
- Automobile Liability
- Comprehensive Equipment
- Umbrella Liability Coverage
- Employee Benefits for Association Personnel
We analyze our client's business issues and challenges. Our team leverages a network of local and national technical experts in a team-based consultative planning process to evaluate the client’s risk profile and identify targeted solutions. Clients then receive tailored recommendations for improving their total cost of risk.
Frequently Asked Questions
Absolutely! Condo association directors are required to comply with all applicable laws, enforce the association’s regulations, safeguard community assets, and collect fees. Given the extensive scope of their duties and responsibilities, board members have ample room for potential mistakes. Consequently, disputes may arise, and condo owners may initiate legal action against them. Community Association Directors and Officers Insurance, or D&O Insurance, offers robust protection for COA board members against these allegations or lawsuits from homeowners.
It's important to protect the association from liability. Workers' compensation can cover injuries to anyone working at the property, including board members, unit owners, volunteers, and uninsured contractors. This coverage applies to activities such as gardening, lawn care, snow removal, and spring clean-up. If someone gets injured, the association could be responsible for their medical expenses, and workers' compensation can help cover those costs.
In general, board members are not personally liable if they follow the law and the association's governance documents, Act in the association's interest, and Follow the correct procedures. Board members are protected under the D&O policy.
A Service Experience to Make Your Life Easier
Claim Advocacy
Consultative Reviews
Consultative Reviews
We stand ready to support you when you need us the most. Our claim advocacy team is dedicated to guiding you through every step of the claims process, expertly addressing any issues to deliver optimal results.
Consultative Reviews
Consultative Reviews
Consultative Reviews
Our client relationships are firmly grounded in confidentiality, trust, and expertise. We will work directly with you or collaborate with your team of trusted advisors to effectively manage risks and exposures and develop a comprehensive risk program that will deliver the protection you need.
Annual Reviews
Consultative Reviews
Annual Reviews
Your insurance program must remain current and relevant to your assets and exposures. We consistently review your private risk management program and its alignment with new marketplace trends. Additionally, we vigilantly monitor your coverage and limits, review any changes in exposure, and provide our recommendations.
Habitational & Association Insurance Professionals
Are you Looking for a Broker Who Understands Habitational?
Experience the Truska Advantage and learn how our habitational team and community association specialists work with clients to control risk and manage costs.
Truska Insurance Agency, Inc.
875 North Michigan Avenue, Suite 3100, Chicago, Illinois 60611, United States
Copyright © 2024 Truska Insurance Agency, Inc. - All Rights Reserved.
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