RIGHT BY GREGORY G. PIERCE, CPA, LIA The Coverage KEY INSURANCE AND RISK MANAGEMENT CONSIDERATIONS FOR THE COMMUNITY ASSOCIATION I n the event a community association suļ¬ers a catastrophic loss or is the subject of a lawsuit, the ability to rely on a properly structured insurance program is of chief importance. While most board members, unit owners, and property managers would agree that insurance is a topic worthy of much attention, many would also contend that the insurance purchasing process can be intimidating for those without insurance industry expertise or experience. The purpose of the following checklist is to help demystify the insurance procurement process by highlighting key considerations and coverage areas that every board member and property manager should contemplate when working to structure a community association insurance program. February 2017 37