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OnDemand Course

Finance and Insurance Issues for Condominium and Homeowners' Associations

Many developers, management companies, accountants, and insurance brokers often do not understand the complex finance and insurance requirements in a condominium. Additionally, many lawyers preparing the declarations for condominiums and subdivisions and advising associations in interpreting their condominium and subdivision documents do not understand the importance of clearly setting forth such requirements for the condominium association and its members in the governing documents. This on-demand webinar helps the persons responsible for preparing budgets, handling association finances and obtaining insurance for condominium projects to understand how first to determine what is required of the association by the governing documents and how to enforce the requirements imposed on the unit owners to best prepare the condominium as a whole in the event of a loss. Failing to have proper insurance to adequately cover a condominium or failing to maintain an adequate reserve account can result in lawsuits against board members and management companies for breach of duties owed to the members. This on-demand webinar is beneficial for all association members, management companies, attorneys, accountants and insurance agents to understand the basics of these requirements and how best to implement a plan for protecting associations.

Learning Objectives:

  • You will be able to define premiums and deductibles.
  • You will be able to describe secondary lending market requirements.
  • You will be able to explain reserve accounts.
  • You will be able to discuss financing capital improvements or repair projects.

Runtime: 86 minutes
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Insurance

  • Association Insurance (Property Casualty, Liability, and D and O)
  • Unit Owner Insurance (Liability, Contents Coverage)
  • Premiums and Deductibles
  • Secondary Lending Market Requirements

Association Finances

  • Operating Budgets
  • Reserve Accounts
  • Financing Capital Improvements or Repair Projects
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More Program Information

Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on August 29, 2013.

Call 1-866-352-9540 for further credit information.

No Credit Available

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Melinda E. Sellers

Melinda E. Sellers

Burr & Forman LLP

" Associate with the law firm of Burr & Forman LLP

" Practice emphasizes all aspects of Community Association law, specifically condominium law

" Conducts regular seminars and workshops on condominium and Community Association law

" B.A. degree in psychology, Auburn University

" J.D. degree, University of Alabama

" Member of the State Bar of Alabama and the Mississippi Bar

" Contact her at [email protected] or at 205-458-5411

No photo available

Bruce Q. White, Jr.

Arthur J. Gallagher & Co.

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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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  • Live Webinars
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Product ID: 392424
Published 2013
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