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Various types of casualty events, including fires, floods, explosions, windstorms, and even the unavoidable burst water pipe, will likely occur at some point in your community’s lifespan which means your board will have to submit an insurance claim. That process can make your association feel as if you’re going through a second disaster while you’re trying to recover from the first one. Host Donna DiMaggio Berger and guest Ken Shriberg, a public insurance adjuster with a track record for turning underwhelming settlements into substantial lifelines, will arm you with the knowledge to face insurance challenges head-on.
Donna and Ken walk through the hidden damages that can derail recovery efforts, emphasizing the significance of exhaustive inspections and the transformative impact a public adjuster can have on your recovery. They recount real-life tales from the field, illustrating how an eagle-eyed adjuster can turn a modest $2 million claim into a $28 million game-changer, emphasizing the importance of expert evaluations in rectifying overlooked destruction.
Donna and Ken also tackle the often-overlooked challenges that association boards face, from understanding convoluted insurance policies to the art of negotiation, and how these hurdles can impact the rebuilding process. They debunk the 10X sales mentality, advocating for collaboration and exceptional customer service as the cornerstones of a successful recovery. By the episode’s end, you’ll be equipped with a view of how seasoned professionals, from adjusters to attorneys, play a pivotal role in guiding communities through the aftermath of casualty events, ensuring a fair and comprehensive path to restoration.
Conversation highlights include:
- How the role of an independent public insurance adjuster differs from the insurance company’s adjuster and other professionals in the insurance industry
- Evaluation tools used to assess the extent of damage in community association insurance claims
- Challenges and issues community associations often face when dealing with insurance companies after a loss
- Timeline of a typical community association windstorm claim, from the initial report to the final resolution
- Red flags or warning signs that community associations should be aware of when dealing with insurance claims
- Key considerations for boards when selecting an insurance policy and how can they maximize their coverage
- When it’s time to call in an attorney to pursue a Bad Faith Claim
About Take It To The Board
Think you know what community association life is all about? Think again. Residents must obey the rules, directors must follow the law, and managers must keep it all running smoothly. Take It To The Board explores the reality of life in a condominium, cooperative or homeowners’ association, what’s really involved in serving on its board, and how to maintain that ever-so-delicate balance of being legally compliant and community spirited. Leading community association attorney Donna DiMaggio Berger acknowledges the balancing act without losing her sense of humor as she talks with a variety of association leaders, experts, and vendors about the challenges and benefits of the community association lifestyle.
If you’ve got a question, Take It To The Board with Donna DiMaggio Berger – We Speak Condo & HOA!
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