How Condo Disputes can Increase your Maintenance Fees (Condo Insider)
Channel: ThinkTech Hawaii
Date: 20/09/2019

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What to do about rising insurance Premiums.  Any increase in Association expenses results in increased maintenance fees to the owners.   Unresolved condo disputes become lawsuits and lawsuits result in increased costs to the Association, which are passed on to the owners in the form of increased maintenance fees.   If the AOAO’s Board is sued, its D&O carrier is involved and this affects the insurance premiums charged to AOAO’s.   Hawaii has the largest number of claims made in the US and the highest amount of claims.  Some carriers have left the state, reducing the pool of carriers and thereby increasing the costs to all AOAO’s in the risk pool.

The host for this episode is Yuriko Sugimura.  The guests for this episode is Sue Savio.

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