Condo Law Watch

Condo Briefs: Insurance Requirements

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Condominium Associations should maintain five types of insurance per the Illinois Condominium Property Act:

  1. Property Insurance
  2. General Liability Insurance
  3. Fidelity Bond or Employee Dishonesty Coverage
  4. Directors and Officers Liability Coverage
  5. Any separate coverage required by the Association’s declaration

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March 2, 2014

Condominium Associations, Insurance Issues

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