Ask Your Peers Product or buyback for construction defect/faulty workmanship for condo associations? (Closed)

Cynthia Fitzgibbons, Atlas Insurance - Sarasota, FL 34238

Reputation: 96 - Total posts: 9

We have a condo association that is approaching 10 years old and they are concerned with the statute of repose in Florida which basically does not hold the builder liable for any defects once this period passes. The association has no known issues but is concerned with the future unknown challenges from the construction of the building . The property policy form excludes “construction defect and faulty workmanship” so the association program would not respond to a claim arising from this. Is there a product or a buy back for coverage for this exposure for condominium associations?
Any thoughts appreciated.

10 year(s) ago

This content has not been rated yet.

4 Verified Reviews - 5 of 5.0

Ashley Fuerstenberg, AmWINS Underwriting - Catlett, VA 20119

Reputation: 4666 - Total posts: 403

Hi Cynthia,

I did a market search for what you are looking for and was able to find 3 companies that may be able to help you. I reviewed their storefronts and saw they work with construction projects, although I did not see if they did work with what you need, I have listed the company names and suggest filling out the inquiry form for the companies listed.

All Risks - Condominium General Liability Insurance

Gladius Insurance services - Condo and Townhome Insurance

Veracity Insurance Solutions - Commercial Property Insurance

Please let me know if you have any questions or if there is naything I can do to help you!

10 year(s) ago

This content has not been rated yet.

Please Log in or register to participate in this discussion.