USI Insurance Services - Community Association Insurance USI Insurance Services - Community Association Insurance

Community Association Insurance

Protecting Neighborhoods with Risk Management and Insurance Solutions

Mitigating risks for community associations grows more complex every day. Balancing the legal, lender, property management and board related exposures requires a specific level of expertise. Serving owners, developers and managers, USI’s condominium specialists provide comprehensive insurance and financial solutions for the unique challenges of community associations.

Our best-in-class services include 24-hour claims advocacy, quarterly reporting, certificate and contract review for association vendors/suppliers, coverage analysis, customized risk management, disaster planning and forecasting, monthly publications on insurance issues/industry information, and more. USI’s Community Association Practice provides timely advice on current industry trends and offers educational seminars to community residents and property management companies.

USI provides coverages designed to control costs and protect community assets, including:

  • Property Insurance
  • Comprehensive General Liability Coverage
  • Director’s and Officer’s (D&O) Liability Coverage
  • Workers’ Compensation Coverage
  • Fidelity Bond (Employee Dishonesty) Coverage
  • Automobile Liability
  • Comprehensive Equipment Coverage
  • Umbrella Liability Coverage
  • Personal Insurance Protection for Community Members
  • Voluntary Benefits

To analyze our client’s business issues and challenges, our Community Association team leverages USI ONE, a fundamentally different approach to risk management. USI ONE integrates proprietary business analytics with 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.

Experience the USI ONE Advantage® and learn how our condominium specialists work with clients to control risk and protect your community. Email PCsolutions@usi.com to learn more or contact your local USI office today.

CASE STUDY:

Case Study: USI’s Risk Reduction Plan Creates Claims Savings of over $100,000 for Community Association.

A community association with 275 residential units and 3 commercial units was suffering from several large claims caused by sprinkler leakage and unidentified issues with the piping system. These issues were exacerbated by the lack of an effective overall claims management process. USI’s Community Association specialists implemented a comprehensive Risk Reduction Plan to help reduce the association’s loss ratio which had climbed to over 200% with the previous broker. Additionally, with the aid of USI’s team, the association was able to identify and replace piping in the areas of greatest concern. Thanks to USI’s intervention, the community association saved $50,000 in reduced premiums and our comprehensive loss control plan saved $100,000 per year in potential exposures.

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200 Summit Lake Drive, Suite 350, Valhalla, NY 10595