ASSESSMENT INSURANCE

fOLKS:
fOR THOSE OF YOU WHO HAVE "ASSESSMENT" INSURANCE, THE BUILDING HAS TO BURN DOWN OR HAVE A SERIOUS FIRE FOR "ASSESSMENT" INSURANCE TO KICK IN. I JUST FOUND OUT TODAY FROM CHRIS MCCARTHY OUR MANAGER FROM CROWNINSHIELD. IT WILL NOT COVER CAPITAL EXPENSES SUCH AS A NEW ROOF OR WINDOW REPLACEMENT.

MARCIA
#103

This business of asbestos needs to be brought up to Otto and the Board immediately.

Also the building has a Master Insurance Policy. I would like to know WHO pays the premium on this policy. I just found out yesterday that I also have "assessment" insurance on my policy, but I have to know the DATE on the policy and the DEDUCTIBLE on the Master Policy before I can submit a claim. We as owners here have the RIGHT to know this information. Perhaps the Master Policy can PAY for some if NOT all of the work that needs to be done. We need to find out about this.

Marcia
#103

Roofing Project - Asbestos?

Has there been any testing done on the roof to determine if there is asbestos present? The law requires testing for asbestos before any demolition on commercial buildings. Check out the Mass Laws @ http://www.mass.gov/dep/air/asbguid.htm. I have not heard anything said about asbestos from the engineering firm or our condo board members. We could be getting ourselves into a very costly situation if we are not careful. We need to insist on more information and re-assurance that all appropriate steps have been taken and all potential issues have been considered.

I think Jack is right on target. This roofing job needs to be monitored very carefully and we need to know exactly what is going on at all times. Overruns do happen all the time. What protection do we have if this happens?

Marcia Guess