Good afternoon all: In response to the few questions from owners as to why the Association needs ‘Certificates of Insurance’ naming the Association, the simple answer is protection. Protection for the Association from any potential Liability lawsuit claim that they might be drawn into concerning one of their members.
As there are many reasons as to why the Association may be drawn into a lawsuit, a good example would be the use of the ‘JOB TRADE’ by a member, who might secure a job off the JOB TRADE, owned by the Association; as you might imagine, if an accident occurs from that particular job, a lawyer might have the ability to draw the Association into the suit claiming that the JOB TRADE/ASSOCIATION facilitated the work for the member by using the JOB TRADE web site.
Regardless if any damages are awarded, the Association if not covered, will have to accept the burden of defense costs, which, as we all know can be rather costly.
As this has been the practice, and policy of the Association for many of the past years, we see good cause in continuing this practice as a means of protection, which naturally has no burden on the insureds/owners involved. To those members you haven’t submitted their Accord 25 as requested,please do so by Monday so we may update our records. Thank you