Condo Media - February 2017 - 43

Disaster planning is all about saving lives, reducing suffering,
and minimizing damage. The key elements of a good plan are
thoroughness, well-considered preparation, and recovery oriented.
a board member. Residents with skills
in insurance, legal matters, electrical
systems, HVAC, plumbing, and emergency response should be sought to
join the team. There are many sources
of a general outline for disaster plans.
Your insurance company may have
pre-prepared templates of these types
of plans for easy customization for your
community's needs.
The written plan needs to be approved by the board. The plan should
be located in easy-to-access multiple
locations. It should be periodically
reviewed and rehearsed. A good plan
will have a checklist of steps to be taken,
procedures to follow, and basic supplies
to have on hand.
Here again your insurance carrier may also be able to provide
disaster training guidance and other
resources. Just ask. You may also want
to consider seeking training grants or
funding through CERT (Community
Emergency Response Training).
The basic disaster plan outline
should consider the following:
1 Assessment of disaster risks - both
past experience and potential
2 Planning - budget and financing
3 Property management coordination
4 Safeguarding important condo
documents
5 Ledger of assets - written and
digital
6 Communication plan - elderly and
special needs; absentees; etc.
7 Emergency equipment available -
condo and resident owned
8 Lines of authority
9 Evacuation plan
10 Insurance audit
11 Vendor and contractor call list
12 Recovery plan

MARKET VALUE PERCEPTION
By recovery, it is not simply the cleanup after the disaster but a pro-active
real estate marketing plan. Whether it
be a simple sprinkler pipe leak causing
flooding and mold in an empty unit or a
fire destroying a building or a wing of a
complex, the planning for what should
be done after the final repair contractor
has left is also important.
The common denominator need of
all condo unit owners is protection
of their net worth. After any disaster,
the impact on market value and sale
potential must be considered. It should
never be assumed just because every
thing has been brought back to "as good

as it was" before the disaster, the real
estate market perceives this to be the
case. The association may need to make
very positive steps to approach the local real estate professionals to clearly
demonstrate the physical state of the
current condo complex. This could include certified inspection reports or lab
test results or whatever it takes to make
market perception be the reality.

n JACK CARR, P.E., RS, LEED-AP,
IS SENIOR VICE PRESIDENT WITH
CRITERIUM-ENGINEERS IN
PORTLAND, MAINE.

CAI-NE SILVER PARTNER PROFILE

Swerling Milton Winnick
Public Insurance Adjusters, Inc.

Swerling Milton Winnick is the largest and most experienced public
insurance adjusting firm in New England. With broad expertise in all areas
of insurance claims, including condominium, residential, commercial, and
business interruption losses, SMW provides personal attention to clients by
keeping all parts of the claims process in-house. The SMW team has in-depth
knowledge of property insurance policy terms and conditions, and features
dedicated personnel who focus exclusively in their areas of expertise,
ensuring the best possible outcome for every claim.
Actively involved in each claim, SMW's four principals ensure ongoing,
responsive client communication and aggressive and timely claims processing. SMW serves its clients with skill, dedication and professionalism, attested to not only by letters of recommendation, but also by the respect and
admiration of insurance company attorneys and claims personnel.
In Wellesley, MA
781.416.1000
www.swerling.com

February 2017

http://www.swerling.com http://www.swerling.com

Condo Media - February 2017

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