Differentiating Product Design
CAU protects you from four key areas of risk that others may not consider or don’t have the right relationships and experience to properly underwrite them.
Guaranteed Replacement Costs for Building and Structures
Normal replacement cost = $20 million policy limit. A weather or other natural disaster places strain on local building supplies and labor force. Prices inflate. Your immediate replacement cost now = $27 million. With GRC, you are covered.
General Liability Coverage with No General Aggregate
Your general aggregate limit is the most your insurance company will pay for accidents and claims for the policy year. If your general aggregate is $4 million and you have three claims in one year, and each is for $2 million, it could cost your association $2 million. With no general aggregate, you are covered.
Employee Dishonesty Coverage for Community and Firm
If you hired your professional manager or management firm as an independent contractor and they embezzle $300,000 from your association, in almost all cases, their bond does not cover your loss in the case of their dishonesty. With employee dishonesty coverage, you are covered.
Directors & Officers Liability Coverage for Non-Monetary Damage Lawsuits
Most lawsuits against association boards are non-monetary in nature and are often filed over such issues as enforcement of rules, pet and parking regulations, or allegations of discrimination. CAU provides coverage for such legal defense costs relating to non-monetary damage lawsuits against board members. With CAU, you are covered.