|Re: Boring insurance question||<– Date –> <– Thread –>|
|From: Sharon Villines (sharonsharonvillines.com)|
|Date: Sun, 19 Jun 2005 09:37:19 -0700 (PDT)|
On 6/19/05 12:02 PM, "Rob Sandelin" <floriferous [at] msn.com> wrote: > We are thinking of upping our liability coverage beyond 1 million dollars. > How much liability insurance does your group have? I don't know how much insurance we have and I'm not an insurance expert by any means but part of the insurance discussion I think should be "what is reasonable"? Insurance covers you for the events for which you are liable because you were negligent. Liability is not automatic. The person suing you has to prove liability. Our lawyer is encouraging us to go in the other direction by having volunteers sign waivers when doing any physical work on the premises that involves climbing ladders, using power equipment, etc. Any one who is hired to work in the common areas has to submit proof of insurance. We also have a risk assessment project going (slowly but out there) to assess risk and address anything that could be interpreted as negligence. One problem is insurance companies themselves suing each other and their clients are being used as pawns. One of our residents hurt her side using the push mower (I think she fell forward onto the handle). Her insurance company tied to get information to sue the association for her damages. She refused to respond to queries and they dropped it. This is an instance when the resident might not have had a choice about whether we were sued on her behalf or not. Although they would have had to prove liability, we would have had to pay the legal fees to defend ourselves. The insurance companies are in a battle with each other. Maintaining more insurance than you absolutely need is just upping the ante for law suits between insurance companies. Sharon --- Sharon Villines Building Community: A Newsletter on Coops, Condos, Cohousing, and Other New Neighborhoods http://www.buildingcommunitynews.org
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