Insurance

Purpose:

Review and maintain the Blanket Policy Coverage for the homes in the Village and the Board’s liability in regards to:

1. The coverage requirements as specified by the By‑Laws of the SNHA, and of the various Declarations and Bylaws of the Condominium and Townhouse Associations in the Village.
2. Compatibility with offerings for policies for homeowners’ personal contents, renter’s liability, loss of use, loss of rental income and any other special considerations for coverage particular to the rental use of the property.
3. The coverage requirements as specified by the Board for the Board’s liability in the conduct of the Association’s business.

Functions:

1. Examine the current policies in effect relative to the above, and in a timely manner, make recommendations to the Board regarding the benefits of renewing, or of seeking coverage with a different agent or company. In the event that the Board of directors authorizes a change in either coverage or insurance provider, conduct a search to obtain the best insurance value for the homeowners.
2. Represent the Association in the settlement of all claims under the Blanket policy.
3. Manage the self-insurance program.