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Quick Tip – What are the most common life safety requirements insurance companies have for associations?

By May 9, 2016 April 15th, 2018 Quick Tips

Sarah Dolce, Senior Account Manager, discusses the most common exposures associates face that could lead to a claim.

Whenever coverage is bound with an insurance company, a loss control inspection is done to determine if there are any exposures that could lead to a claim. The most common requirements we see are the installation of emergency lights and illuminated exit signs in the common areas and stairwells, maintaining battery or hardwired smoke detectors and the upgrade of any electrical panel from fuses to circuit breakers. One that we’ve been seeming more is requiring that the removal of any Federal Pacific Stab-Lok panel installed between the 1950’s and 1980’s. These panels are known to be defective and result in fires. Generally if these requirements aren’t complied with in a timely fashion, the insurance is cancel or non-renew the policy.