DEPARTMENTS TRENDS AND UPDATES THE INSURANCE INDUSTRY has been a hot topic over the last few years. The increase in major claims over the last decade has caused many of the insurance carriers to make changes to their standards in terms of premiums, underwriting appetite, and range of coverages offered. Community associations have not been immune to these changes, most of them being unfavorable. One of the more frequent changes that insurance companies have been implementing is requiring deductible changes; either with how they are structured or increasing them altogether. For community living, this can be tricky, as the unit owners are wise to pair their individual unit policies with the coverages on the association master policy. 24 CONDOMEDIA February 2025 Changing Deductibles Understanding and Communicating Insurance Trends [By Brendon Kilcoyne, CIC, CIRMS, EBP]