CondoPRO: Community Association Package Insurance

Cover All Your Bases

Since many insureds are unfamiliar with the varieties of insurance products, brokers who partner with McGowan as their go-to insurance resource gain access to McGowan’s risk management services and library of educational materials, articles and seminars. Having an insurance service like McGowan Program Administrators Condominium Association Package reduces risks and ensures everyone involved is adequately covered.

Have questions? Contact Jeffrey H. Marsh for more information.

CondoPRO Flyer

Single-Family HOA Information

Community Association Applications, ACORDS, Supplementals, SOV

Product Details

ELIGIBLE CLASSES

McGowan Program Administrators Community Associations Umbrella Program provides coverage from $1 Million up to $100 Million for seven eligible classes:

  • Condominium Associations
  • Cooperatives
  • Townhome Associations

MINIMUM PREMIUM

  • $10,000

CARRIER

A.M. Best “A” Rated Carrier / Admitted Paper

TERRITORY

Arizona; Connecticut; Delaware; District of Columbia; Georgia; Illinois; Indiana; Maine; Maryland; Massachusetts; Michigan; New Hampshire; New Jersey; New Mexico; Nevada; North Carolina; Ohio; Oregon; Pennsylvania; South Carolina; Utah; Vermont; Virginia; Washington; and Wisconsin

COVERAGES

  • Blanket Building Coverage (Per Location Basis)
  • Guaranteed Replacement Cost
  • Ordinance & Law
  • Equipment Breakdown
  • Loss of Income & Extra Expense
  • Flood & Quake
  • Medical Payments
  • GL Coverage Limits Available Up to $2MM/$4MM

PRODUCTS/LIMITS

  • General Liability $1MM/$2MM ($2MM/$4MM Available)
  • Property: Blanket Up to $125MM

To Obtain Quotes

Agents may use the “Quick Quote application” to obtain quick pricing and coverage indications from McGowan Program Administrators. Firm quotations are subject to receipt of the following:

  1. A fully completed application submitted to apps@mcgowanprograms.com.

To Bind Coverage

The following items are required in order to bind coverage:
  1. A written request to bind on or before the effective date.
  2. A fully completed application and any supplemental applications that may apply.
  3. Three years of currently-valued (generated within the past six months), hard copy, GL carrier generated loss runs.

Resources

  •  Community Association Fraud
  •  Community Association Insurance Primer
  •  What D&O Claims are Covered
  •  Do Your Homework
  •  How Much is Protecting Your Personal Assets Worth
  •  Insurance Mystery
  •  Not All D&O is Created Equal
  •  Unexpected Loss Assessment
  •  NEW Community Association Risk Management Packet
  •  Quality of Management Worksheet
  •  Reputation and Experience of Manager Worksheet
  •  Board of Director’s Test
  •  D&O Insurance Claims – Does Your D&O Policy Cover These Claims?
  •  Community Manager Claims: Are You Covered?
  •  Claims Made & Reported Policy
  •  Condominium Unit Buyer’s Check List
  •  NEW Community Association Risk Management Packet
  •  The Unnecessary Voluntary Assumption of Liability by the Association Board

    Indiana Association Help Now, 2013

  •  Fitting the Pieces

    Community Association Living, April 2013

  •  Where to Begin – A Solid Strategy

    Community Association Living, February 2013

  •  The Insurance Puzzle – What Boards Must Do and Must Avoid

    Community Association Living, November 2012

  •  It Never Rains in Texas So Why Buy an Umbrella?

    Community Association Living, 2012

  •  A Wake Up Call for all Community Associations: Homeowners Awarded $30.7 Million in Lawsuit Against Northwest Indiana Homeowners Association

    AssociationHelpNow, August 2011

  •  Do You Have an Elephant in the Living Room? The Power of Reserve Studies for Community Association

    The New Jersey Cooperator, November 2010

  •  Community Association Insurance. Writing Condominium and Homeowners’ Association Insurance

    Florida Underwriter, September 2009

  •  Insured v. Insured Exclusion– What Is It All About in the Community Association’s Directors & Officers Policy

    Community Interests, May 2009

  •  Filing a Successful Claim

    New England Condominium, October 2012

  •  The Attorney Audit of the Community Association Insurance Puzzle

    National Community Association Law Conference Seminar Material, January 2010

  •  The Claim Has Landed–Now What?

    National Community Association Law Conference Seminar Material, January 2009

  •  Cover Your Assets: When Are You Not Covered by Your D&O Policy

    Community Interests, June 2008; Condo Media, October 2008; The Cooperator, August 2008; Florida Community Association Journal, October 2008

  •  A Funny Thing Happened on the Way to the Bank: Fraud in the Community Association

    Katzman & Korr Law Advisor, 2008 / New England Condominium Magazine

  •  Errors & Omissions Exposure, Minimize Your Risk

    Condo Media, November 2007

  •  Where Do We Begin? A Solid Strategy Puts an Association’s Insurance Pieces in Place

    Condo Media, November 2006

  •  Do Your Homework: What the Association Board Needs To Do

    Condo Management Magazine, May 2005, July 2005, August 2005; Hawaii Community Associations Publication, August 2005

  •  The Insurance Mystery. Where Does the Association’s Responsibility End and the Homeowner’s Begin?

    Condo Media, August 2005

  •  Directors & Officers Liability– Not All Policies are Created Equal

    The Cooperator (NY), August 2004; Condo Management Magazine, January 2002

  •  The Value of Loss Assessment Coverage: Covering Your Bases

    The New Jersey Cooperator, August 2004

  •  It’s a Groundless Complaint; It Will Go Away Soon According to Our Property Manager or Attorney — Why Should it Impact Our Insurance?

    Quorum, May 2006; Condo Management Magazine, January 2003

  •  No Myth. The Truth On Errors & Omissions Coverage

    Condo Media Magazine, November 2004

  •  Community Association D&O Risk: Good Intentions Are Not Enough

    Rough Notes Magazine, December 2003

  •  Saving on Community Association Insurance, Is It Possible?

    Florida Community Association Journal, May 2004

  •  Who Wants To Be a Fully Insured Condo Association? The Condominium Insurance Claim Game

    New England Condominium, August 2005

  •  Community Associations D&O
  •  Commercial Umbrella

What Is A Community Association?

Learn about Community Associations in Commercial Insurance from McGowan Program Administrator’s Joel W. Meskin Esq., CIRMS

What Protects Volunteer Community Association Board Members?

Learn about what kind of protection Community Association Board Members have from McGowan Program Administrator’s Joel W. Meskin Esq., CIRMS.

What Are The Most Common D&O Liability Claims?

Learn Which Liability Claims are the Most Common for Directors & Officers Insurance from McGowan Program Administrator’s Joel W. Meskin Esq., CIRMS.

What is the Difference Between a Continuity Date & a Prior and Pending Litigation Date? Confused about CD and PPD?

Learn the difference between the two from McGowan Program Administrator’s Joel W. Meskin Esq., CIRMS.

What are Non-Monetary Claims?

Examples of Non-Monetary Claims. Who is Covered Under D&O Liability Policy Find out who is covered under your D&O policy.

What is a Claims Made Policy?

Find out what a claims made policy is.

What isn’t covered by a D&O Policy? What is not covered by a D&O Policy?

Find out.

What is a Hammer Clause? What is a Hammer Clause?

Find out!

What is Severability in a Insurance Policy?

What is Severability in an Insurance Policy? Find out!

Difference Between Defense and Indemnity

What is the difference between Defense and Indemnity? Find out.

Does your Policy cover a Developer or a Developer Representative?

Does your Policy cover a Developer or a Developer Representative? Find out!

What is an Insured vs Insured Exclusion?

What is an Insured vs Insured Exclusion? Find out!

What is the Difference Between Defense Outside the Limits and Defense Inside the Limits?

What is the Difference Between Defense Outside the Limits and Defense Inside the Limits? Find out!

Can We Choose Counsel Under Our Policy if There’s a Claim?

Can We Choose Counsel Under Our Policy if There’s a Claim? Watch to find out!

If Multiple Entities Share Documents, Can They Be Covered Under the Same Policy?

If Multiple Entities Share Documents, Can They Be Covered Under the Same Policy? Find Out!

Association has no Employees, Why should we have Employment Practices Liability Under Policy?

Our Association has no Employees, Why should we have Employment Practices Liability Under Our Policy? Find out!

What types of associations fit within our program?

What types of associations fit within our program? Find out!

  •  Ignorance is Bliss
  •  Managing Risks Associated with Technology & Data Security
  •  The Price of Insurance vs. the Cost of Insurance
  •  Why a Community Association Should Consider Special Event Insurance
  •  Top Ten Most Common D&O Insurance Claims
  •  The Two Biggest Mistakes Community Associations Make Involving D&O Liability Insurance
  •  What’s My Line: Will the Real Community Association Risk Manager Please Stand Up?

Condo Associations can rest easy knowing their Package Insurance interests are being protected when they “Think McGowan.”

McGowan Program Administrators Condominium Association Package provides Property Coverage up to $125 million per location for three eligible classes:

  • Condominium Associations
  • Cooperatives
  • Townhome Associations

Cover all your bases

This coverage includes, among others:

  • Blanket Building Coverage (Per Location Basis)
  • Guaranteed Replacement Cost
  • Ordinance & Law
  • Equipment Breakdown
  • Loss of Income & Extra Expense
  • Flood & Quake
  • Medical Payments
  • GL Coverage Limits Available Up to $2MM/$4MM

Having an insurance service like McGowan Program Administrators Condominium Association Package reduces risks and ensures everyone involved is adequately covered.

Product Overview

Limits: General Liability $1MM/$2MM ($2MM/$4MM Available) Property:  Blanket Up to $125MM Minimum Premium:  $10,000 Carrier:  “A” Rated Carrier / Admitted Paper A.M. Best Rating: A XV Territory:  Arizona; Connecticut; Delaware; District of Columbia; Georgia; Illinois; Indiana; Maine; Maryland; Massachusetts; Michigan; New Hampshire; New Jersey; New Mexico; Nevada; North Carolina; Ohio; Oregon; Pennsylvania; South Carolina; Utah; Vermont; Virginia; Washington; and Wisconsin This program is available to brokers under separate contract with volume commitment.

Partnering with McGowan

Since many insureds are unfamiliar with the varieties of insurance products, brokers who partner with McGowan as their go-to insurance resource gain access to McGowan’s risk management services and library of educational materials, articles and seminars. The “Power of The Pen” allows McGowan the ability to bundle together unique and specialized policies that aren’t offered anywhere else. This provides brokers with a one-stop insurance shopping experience.

Download: CondoPRO Flyer Download: Single-Family HOA Information Download: Habitational Supplemental Application Download: ACORD 125 Download: Community Association Quick Quote Application Download: Community Association Umbrella Application Download: Hired and Non-Owned Supplemental Download: Wind & Hail Supplemental Questionnaire Download: Single-Family HOA Application Download: Single-Family HOA SOV

To Obtain Quotes

Agents may use the “Quick Quote application” to obtain quick pricing and coverage indications from McGowan Program Administrators. Firm quotations are subject to receipt of the following:
  1. A fully completed application submitted to apps@mcgowanprograms.com.

To Bind Coverage

The following items are required in order to bind coverage:
  1. A written request to bind on or before the effective date;
  2. A fully complete application;
  3. Three years of currently-valued (generated within the past six months), hard copy, GL carrier generated loss runs.
Contact: Jeffrey H. Marsh
Click Here For Special Event Insurance For Your Community Association