“Condominium Legal Liability LLC™” helps Florida Condo Assn’s Comply with HB 601.
Delray Beach, Fl, USA, June 15, 2009 – THIA is pleased to announce a new insurance product called “Condominium Legal Liability LLC” ™ that saves condominium associations 90% of their HB 601 compliance work with no direct expense to the association. “Up until now HB 601 has been a big compliance problem”, says J. Travers Hartnett, President of THIA an Independent Insurance Agency specializing in insuring Florida Condominium Associations. “Most property managers and condo associations have reported the new legislation is too costly and time consuming to administer within their current budget”.
Effective January 1, 2009 Florida House bill 601 required every condo owner in the State purchase property, liability and loss assessment insurance for their condo and provide proof of coverage to their condo association. Condominium associations, boards of directors, and their management companies now have a duty to monitor who is insured properly and who is not. The law authorizes condo associations to purchase the required insurance at the expense of their unit owner if the owner fails to comply.
The new Condominium Legal Liability LLC” ™program includes an association master policy designed to protect the association for the required insurance and tracks each unit owner for compliance over the internet. The program also includes a ‘Forced Place” coverage option for unit owners who have refused to comply with the law.
J. Travers Hartnett
Travers Hartnett Insurance Agency (THIA)
Delray Beach, Fl 33483
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