What is Condominium Insurance Severability Clause?

Answer Condominium boards are most properly insured with directors and officers insurance -- which best practices recommend, and which may be required by your governing documents. One of the situations co... Read More »

Top Q&A For: What is Condominium Insurance Severability Clause

What is the advantage and disadvantage of Right of First Refusal clause in condominium Articles?

The advantage is that the board can choose to purchase the unit before it is made available for sale to any other entity. There's really no dis-advantage, since the board can publish its non-intent... Read More »

What Is an Insurance Margin Clause?

An insurance policy may include an insurance margin clause. This stipulation plays a part in determining any payout made on the policy. It is not always a beneficial feature to have.

What is an insurance liberalization clause?

If you have purchased property and casualty insurance recently, your agent may have told you that your policy contains a liberalization clause. While not many people know what this clause means, it... Read More »

What is definition of sunset clause in liability insurance policy?

It has to do with time limits where the policyholder can to bring a claim to the insurance company. Please see related link below!