Archive for Habitational
Apartment complexes provide housing to individuals who pay rent to the building owners. Amenities vary and can include community centers, golf courses, exercise facilities, and other activities. The types of structures vary, ranging from multi-unit single story frame dwellings to high-rise, sprinklered, fire resistive buildings.
Appraisers provide objective and unbiased estimates of the value of certain property. Many specialize in specific types of property, such as real property, jewelry, antiques, or fine arts. This coverage protects individual appraisers or appraisal firms against claims that allege negligence or bias in preparing appraisals.
Assisted Living Facilities
Assisted living facilities serve elderly and disabled individuals who can care for themselves but need one or more types of personal assistance. Residents usually do not require daily medical care but may need assistance in personal hygiene, proper nutrition, housekeeping, and medication management. Policies cover a wide range of homes, including those that cater to people in the early stages of Alzheimer’s disease. These policies cover both professional and general liability exposures as well as other package lines.
Bed and Breakfasts and Country Inns
Bed and breakfast inns are homes to their owners and lodging for paying guests. They are popular with tourists who want something different than what is available in regular hotels or motels.
The standard markets usually insure boutique hotels. However, some are much more difficult to place because of high property values and/or difficult liability exposures. Some boutique hotels located in coastal areas are subject to heavy windstorms and hurricanes. Casino operations at some hotels introduce unique and unusual crime and liability exposures, while restaurants and bars present liquor liability exposures. Swimming pools, lakes, skating rinks, skiing, and other leisure activities for guests are examples of difficult liability exposures. Some hotels arrange trips for guests and programs for conventioneers.
Casinos and gaming risks specialize in offering gambling for adults. They include full-facility hotel/casinos, and riverboats but also include pull tabs and video poker in bars, sports books, bingo halls, and slot machine parlors. Originally limited to the state of Nevada, casinos and gaming risks are now fixtures in many states. High limits crime coverage is often a particular concern because of the amount of cash kept on the premises.
A condominium association is a legal entity made up of individual unit-owners who own their individual living spaces but who jointly share ownership and responsibility for maintenance and upkeep of common areas. Condominiums can present unusual and sometimes complex insurance problems with respect to property, liability, crime, and workers compensation coverages for the condominium buildings and operations.
Convention and Trade Show Insurance
Incidents such as hurricanes, acts or threats of terrorism, or strikes by teamsters can result in a scheduled convention not having a place to meet, resulting in its cancellation. The cancellation results in the sponsor having to repay partial or full advance registration fees to its members. It some cases, the cancellation results in the loss of a major funding source for the entire year’s budget. Coverage is available to protect the sponsor. Coverage also applies to the total or partial shutdown of the event. It also pays if the event must be held at an alternate site. Coverage is for risk from any direct physical cause beyond the insured’s or the show participants’ control. Common exclusions are lack of financial resources, lack of support of participants, late or non-arrival of exhibits to the show, war, nuclear perils, disease, or epidemic. The anticipated gross receipts from members determine the limits of insurance.
Country inns provide overnight lodging accommodations for guests as well as a home for the inn’s owner and/or manager. The inns have full service restaurants for both guests of the inns and other customers. Many are located in rural areas. Some offer leisure-time activities, such as swimming pools and recreation facilities on the premises.
Green Building: Personal
Home owners who explore alternative energy sources (such as solar, geothermal, or wind) will need to explore special endorsements to cover these additions in their insurance programs.
Nonprofit agencies or community service organizations usually operate halfway houses. Both property and general liability coverage is available. Examples of such houses include drug and alcohol rehabilitation facilities; battered women and abused children shelters; and homes for mentally handicapped adults. Professional liability coverage is also available. Halfway houses for paroled ex-criminal offenders are very difficult to place.
Many homeowners are supplementing income by renting out all or portions of their homes on a temporary basis through online networks. Many homeowners insurance carriers are unwilling to accept this added exposure.
The standard markets usually insure hotels. However, some are much more difficult to place because of high property values and/or difficult liability exposures. Some hotels located in coastal areas are subject to heavy windstorms and hurricanes. Casino operations at some hotels introduce unique and unusual crime and liability exposures, while restaurants and bars present liquor liability exposures. Swimming pools, lakes, skating rinks, skiing, and other leisure activities for guests are examples of difficult liability exposures. Some hotels arrange trips for guests and programs for conventioneers.
Military Housing Property Managers
The 1996 National Defense Authorization Act created the Military Housing Privatization Initiative (MHPI). This is a public/private program where private sector developers own, operate, maintain, improve, and assume responsibility for military housing. The manager may provide management over existing properties or demolish existing properties, build new ones, and then manage them. Coverage usually includes property, general liability, auto, D&O, inland marine, E&O, and crime. Tenant personal property and liability coverage may also be offered.:
Mobile Home Parks – Owners Liability
This coverage insures the owner or operator of a mobile home park against bodily injury or property damage liability claims that arise from its ownership, maintenance, and/or use of the premises and all incidental operations. Products liability and medical payments coverage may also be included. Certain operations such as boats, docks, floats, swimming pools, restaurants, and stores must be declared so that the risks from these operations can be evaluated and appropriate premium charged.
Private Gated Communities
Public Housing Authorities Liability
This coverage insures public housing authorities that own, lease, or manage low-income housing or that administer low-income assistance programs available through the U.S. Department of Housing and Urban Development (HUD). Policies can be written to cover public officials’ liability, errors and omissions, directors and officers coverage, and commercial general liability exposures.
Resorts Liability and physical damage coverage is extremely important to resort owners and operators. Resorts located in areas without public fire protection or in areas that are difficult to reach are particularly difficult to place because of the distance to the fire department, inadequate water supply, high brush hazards, or older buildings. Coastal resorts may have difficulty obtaining coverage for windstorm and flood. Liability exposures are often significant and include swimming pools; beach craft, such as wind surfers, jet skis, parasailing, and personal watercraft; scuba diving; water skiing; trail rides; mountain climbing; and white water rafting. Resorts also have liability exposures from winter activities such as ski trails, tows and lifts, toboggan runs, and snowmobiles. Many resorts also have exercise facilities, specialized concierge services, and significant liquor liability exposures from restaurants and bars on the premises.
Senior Living & Housing
This program is available for habitational buildings and housing complexes that cater to senior citizens. Eligibility extends to assisted living and subsidized properties, such as HUD and HFA. Coverages available include property, commercial general liability, crime, workers compensation, hired and non-owned auto, and incidental auto exposures. Other coverages that may be provided include directors and officers, professional liability, equipment breakdown, and umbrella.
Student housing is a difficult class to underwrite because of numerous issues that relate to student behavior. Property hazards to consider include smoking, candles, and forgetfulness, along with general negligent and irresponsible behavior. Liability exposures include issues related to fire, along with those related to assault and alcohol. Housing units may be on or off campus. They may be publically or privately owned. A significant number of student housing units are in older converted dwellings that are often overcrowded and do not conform to building codes. However, there are also a growing number of newly built, well-maintained, and well-managed off-campus student-only high-rise apartments.
Coverage is available for habitational buildings and housing complexes that cater to individuals who use governmental subsidies, such as HUD or HFA to help them make their rent payments. Coverages available include property, commercial general liability, hired and non-owned auto, government ordinance, crime, workers compensation, and incidental auto exposures. Other coverages that may be provided include directors and officers, professional liability, equipment breakdown, and umbrella.