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Communities facing rising umbrella liability rates

Mem Property Management

As property insurance rates are somewhat stabilizing in 2022, umbrella liability rates continue rising for common interest communities. A new phenomenon has emerged that is the result of a dramatic rise in litigation, along with astonishingly large payouts for bodily injury claims, also referred to as “nuclear verdicts.”

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New 2025 condo and HOA laws for U.S. states

Condo Control

Senate Bill 4-D was signed into law in May of 2022 as a response to the Surfside condominium collapse. 2022 Idaho Financial information must be provided to owners Idaho’s Homeowner’s Association Act requires HOAs to provide owners with a rundown of fees each year on or before January 1.