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Community Association Package Case Studies.

Posted 2/3/2020



Distinguished’s Community Association program provides condo associations, HOAs, CO-OPs, and others, with a package policy that includes broad and comprehensive Property coverages to meet their unique risks.
Take a look at the following case studies where we put out expertise and experience to work finding solutions to address the challenges community associations face while getting them the coverage they need.

Account Type: Condominium Association in Colorado comprised of 18 separate residential buildings with a total of 108 units and TIV of $29,500,000.
Challenge: Submitted as a new business opportunity after non-renewal by competing carrier due to the presence of solar panels on several rooftops.
Solution: Worked with Great American to establish an underwriting requirement that any building with solar panels has an external and accessible shut-off switch on the ground floor. Confirmed association was in compliance with requirement and was able to quote and bind coverage.
Premium: $44,250

Account Type: Homeowners Association with Residential Structures to be included.
Challenge: Previous carrier did not renew account due to frequency of sprinkler leakage claims. The cause of these claims was uninsulated sprinkler piping located in the attics.
Solution: Worked with the association to remedy cause of loss by applying insulation over sprinkler lines in the attics and also applied a per-unit sprinkler leakage deductible which was an option that prior carrier did not offer. Quoted and bound coverage.
Premium: $26,300

Account Type: CA Package Program.
Challenge: Correcting a perceived coverage deficiency due to limits provided for Water Backup of Sewer or Drains ($30,000), Ordinance or Law-Demolition Cost ($500,000) and Ordinance or Law-Increased Cost of Construction ($500,000).
Solution: Working with our carrier partner, Great American, we were able to increase coverage for Water Backup of Sewer or Drains to $100,000 and for Demolition Cost and Increased Cost of Construction to $1,000,000 for each coverage.
Premium: Increasing these three coverage limits has provided a significant benefit to our insureds.

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