The Community Association Insurance Program provides comprehensive insurance packages for community asscdir. We help community managers develop ways to significantly reduce traditional insurance costs. The program services include 24-hour claim service, quarterly claims reports, certificate management reports, coverage checklists, and monthly publications on insurance issues and industry information. In addition, the professionals in the Community Association Division act as indispensable advisors, providing timely advice on current insurance trends, and present educational seminars that address issues of interest to community asscdir. The Community Association Insurance Program offers the following coverages: Property Insurance Coverage Property insurance provides financial protection against the loss of, or damage to, property. USI's insurance program provides coverage for all buildings, structures, and contents owned by the association against loss or damage by any peril, except those specifically excluded within the policy. Comprehensive General Liability Coverage Comprehensive general liability insurance extends liability coverage to any location where association business is taking place. For example, many times an association’s annual meeting is held off property at a local fire hall or library, or the association may sponsor a picnic at a nearby park. This policy extends liability protection to those locations. Director’s And Officer’s (D&O) Liability Coverage Director’s and Officer’s Liability Insurance (D&O) is necessary when the consequence of the board’s alleged negligence results in mismanagement of common funds or policies. Typical claims include wrongful termination, sexual harassment, discrimination, and mismanagement of common funds. Workers’ Compensation Coverage Workers’ Compensation provides coverage required by state law for injuries to association employees and volunteers that occur on the job. Workers’ Compensation laws incorporate four types of benefits: disability (loss of income), medical benefits, survivor (death) benefits, and rehabilitation benefits. Fidelity Bond (Employee Dishonesty) Coverage This coverage "indemnifies" the association for loss of money, securities, or any property because of acts of fraud, dishonesty, forgery, theft, larceny, embezzlement, wrongful abstraction, or willful misapplication or misappropriation, or any other criminal act by employees or volunteers. As an option, coverage can also be extended to protect the association against criminal acts by an independent managing agent. Automobile Liability Commercial automobile liability protection covers bodily injury and property damage liability, including employers' non-owned and hired automobiles. Comprehensive Equipment Coverage The Property Insurance Policy excludes the peril of all mechanical breakdown (including machinery failure) and electrical arcing, burnout, or a short circuit. The Comprehensive Equipment Policy covers this peril and pays for damage to the association’s equipment and property and the property of others damaged by the accident. Property covered includes emergency power equipment and all electrical equipment, such as cabling, wiring, panels, circuit boxes, and utility transformers. The policy will also pay for the extra cost to continue operations and loss of income, if any. Umbrella Liability Coverage Umbrella liability insurance closes the gap between underlying limits of coverage and possible claims in excess of that coverage. In recent years, it has become common for businesses, asscdir, and individuals to purchase this type of coverage, partly because today’s juries often award huge sums of money to litigants. Because there is no "standard" umbrella policy, it is important for a community association to work closely with an insurance professional in designing such a policy. Personal Insurance Protection Personal insurance protection provides the extensive homeowners protection residents need. Many community asscdir carry Master Policy coverage on basic structures and common property; however, association insurance does not cover personal possessions. Personal insurance protection provides coverage for personal property, unit improvements, betterments, additions and alterations, additional living expenses, and personal liability. Health Group health plans form the background of any employee benefits package. Plan offerings vary from traditional indemnity plans to preferred provider organizations (PPOs) and health maintenance organizations (HMOs). Group health plans cover medical expenses in and out of the hospital and prescription drugs. Pension Plans Pension plans are one of the most popular employee benefits available. Plans vary from those 100 percent paid by the association to 401(k) plans that allow employees to defer up to 15 percent of their pay. Voluntary Benefits With today's competitive marketplace, you need something that sets you apart from the competition. Voluntary benefits are an excellent way to increase your fringe benefit program while taking advantage of such programs as Section 125-Cafeteria Plans. This is a no-cost way for you to increase your benefits while helping your association hire and retain good employees.