Compiled by Patrick Comiskey
Forty people attended the Board Meeting held December 12, 2023 including eight Directors and Management representatives. It was a dramatic meeting owing to the bombshell laid at the feet of the property by the insurance industry.
INSURANCE RATES SKYROCKET
On December 9, Management was informed of an astronomical rate hike to the Green’s Property and Liability insurance premium for 2024. In 2023, the Association paid $196,345 in annual fees. Ms. Giles reported that the preliminary quote for the same coverage was likely to quintuple.
On December 9, Management was informed of an astronomical rate hike to the Green’s Property and Liability insurance premium for 2024. In 2023, the Association paid $196,345 in annual fees. Ms. Giles reported that the preliminary quote for the same coverage was likely to quintuple.
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