Condominiums are a unique form of property ownership that began to catch on in the 1970s and 1980s and are now found almost everywhere. Examples of condominiums are residential complexes, golf communities, vacation condominiums, boat marinas, professional buildings, mini-storage complexes, industrial parks, strip malls, and office buildings.

Condominiums present unique insurance challenges. This course will enable the reader to understand the nature of condominium ownership, the relationships among the parties involved, and the various ways of ensuring that their interests are properly protected with property and liability insurance.

On completion of this course, students will be able to

• recognize the distinguishing characteristics of condominium ownership and condominium insurance
• recognize how a condominium's governing documents define insurance requirements
• identify the standard coverage forms and endorsements used to insure condominium associations and unit owners
• recognize the challenges of establishing insurable values and coordinating a condominium insurance program
• understand the changes that the 2022 ISO Homeowners program brought about for condominium insurance

P/C Producers