Condo Media - February 2021 - 33

Good insurance agents will prefer to answer

l By amendment, insurance
resolution, or, at a minimum,
a rule, communicate to owners
that they will be required to sign
a release when provided with
insurance claim funds from
the association's master policy.
If owners are aware in advance,
it is less likely to be an issue when
the time comes. At least one court
decision has determined that the
signing of a release is an acceptable requirement for the issuance
of master policy funds because the
board's duty is to protect the interests of the association as a whole.
The court found that obtaining a
release serves that end by eliminating potential lawsuits.
l Utilize your agent's expertise
when insurance-related questions arise. I believe good insurance agents will prefer to answer
the occasional question in a timely
fashion as opposed to having a
client develop a coverage issue in

the occasional question in a timely fashion
as opposed to having a client develop a
coverage issue in a time of need.
a time of need. For instance, most
contracts with vendors include an
insurance component relative to
the types of coverage and coverage
amounts that a vendor must carry
in order to work on the property.
It is a good idea to have your
insurance agent confirm that the
insurance coverage and amount
requirements are appropriate and
sufficient relative to the contract
at hand and the proposed work to
be undertaken by the vendor.

the types and amounts of coverage to
be carried by the association. In these
instances, your insurance agent is in
the best position to confirm that you
do, in fact, have sufficient insurance
coverage of the types and amounts
necessary to meet your contractual
obligations. And, if not, your agent is
the best person to provide information
on the availability and cost of any
additional coverage you may need.
n GARY M. DADDARIO, ESQ., CCAL
IS A PARTNER WITH THE LAW FIRM

It is not uncommon for contracts,
especially for major projects, to also
include insurance requirements for

MARCUS, ERRICO, EMMER & BROOKS,
P.C. AND CHAIR OF THE CAI NH LEGISLATIVE ACTION COMMITTEE (NHLAC).

Legislative
Happenings
NHLAC Update
I WISH TO PROVIDE A QUICK UPDATE on legislative
matters in New Hampshire. As with many other aspects
of life, 2020 was a " lost year " in terms of legislation
relative to condominiums. However, the next legislative
session is shaping up to be of interest. A bill has once
again been introduced with respect to solar power
installs at associations. To the extent that this bill seeks
to deprive associations of the ability to regulate such
matters, the New Hampshire Legislative Action Committee (NHLAC) will provide opposition. On the bright
side, I am pleased to say that the NHLAC was able
to secure sponsorship for our foreclosure remedy bill

from Representative Will Infantine. We will once again
attempt to secure a statutory foreclosure remedy for
condominium associations enforcing their lien rights
against long-term delinquent unit owners failing to
meet their financial obligations to their associations.
Please be on the lookout for public hearings on this
matter. Public support at such hearings goes a long
way towards guiding the legislators relative to the will
of their constituents. In addition, please proactively
contact your legislators to let them know that New
Hampshire associations need a foreclosure remedy
and that this bill should be passed.

February 2021 CONDOMEDIA

Condo Media - February 2021

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