Insurance & Reserves in Community Associations

SPEAKERS
Robert Nordlund, Terri Guest

Robert Nordlund 00:00
Well, thank you Paige and hello everyone. Thank you for joining us today. So welcome to our reserves and insurance webinar. Now, in full disclosure, we probably should have named it insurance and reserves, because this webinar is primarily about the changes in the insurance industry that we want you to know. It’s not going to be one of our normal webinars about reserve study concepts. Now, I’ve known Terry guest, our guest expert, for many years, and I attended her presentation on the changing insurance industry at the CAI national conference in Orlando earlier this year, listening to all she was saying how insurers are caring more about the physical condition of the property, its maintenance, reserve studies and reserve planning made me think we need to get her on one of our webinars this year. It took a while to get our schedules coordinated, but she’s with us today, and I’m so glad we’re able to bring this program to you. So let’s get on with this program. Because the agenda we’ll use for today, I’ll walk you through the situation, basically our starting point, but you’ll primarily be hearing from Terry regarding what’s going on and what can you do. So let’s get right to it. You’ve all heard that owning and caring for real estate is expensive, I trust and I want to emphasize that, because we’ve also heard that community association living is carefree, but it is anything but free, because those common areas don’t take care of themselves. And we’ve all heard that this community association industry. It’s about living in community. Some things belong to the association. Those are the common areas, and some things belong to the individual owners, the private space. And the intersection between the two is what regularly makes this an interesting industry to be part of. And for years and years and years, I believe Association insurers only cared about the common areas because everything else in the private space was the individual owners responsibility. Well, what I learned in Orlando, as Terry was thinking, was that is not true anymore. Insurers care about private space also, and something else is that I’ve always had this worldview that reserve studies are for budget planning, those predictable, upcoming projects. And insurance protects you from the cost of accidents, things that aren’t predictable. They protect you by paying your regular premiums, they protect you from catastrophic loss, so all you have is just your insurance premiums. So I thought that was how these two things kind of fit together. They complement each other, but they are unrelated. We do predictable things. Insurers take care of accidents, and what I’ve learned is they are not unrelated. They are becoming intertwined with one another. So again, that got my attention, but I do want to, as we set the table, make sure you understand that mother nature and Father Time are not just powerful forces. They indeed are the enemy. The enemy is not your insurance provider. The enemy is not your reserve. Say professional saying how large your reserve transfers need to be. You need to understand that this is all driven by mother nature and Father Time. So however you imagine enemies, you see a little bit of how I imagine enemies and monsters and bad things happening on the screen, Mother Nature and Father Time. They are the enemy. They’re the ones causing you trouble at night and causing you who have higher and higher monthly assessment. I want to make it clear that in our presentation today, we’re going to suggest that reserve studies help you navigate forward through the predictable costs. For those of you who’ve been to our webinars before, you’ve seen this imagery before, that we’re like a trail guide, helping you down the trail towards predictable deterioration, major projects, roofing, painting, asphalt, those kinds of things. And we’ve got Terry on the program today because she represents, in my mind, kind of like a tour guide in a foreign country, someone who knows the territory, but it’s unfamiliar to you, and insurance coverage is going to help you navigate for protecting you from those unknown costs. So as we go through today’s program, I want to encourage you to rely on your experts, the reserve today, providers and your insurance professional to guide you forward, to help you emerge the hero at your association. We want you to be the hero. You’re the one in charge. We’re just the ones guiding you settle in, watch and enjoy the rest of the program. When we get to this point, I’m going to Angie. Years and introduce our welcome Terry to the program. So Terry, it’s all you now. So please. What is going on here? What the

05:09
heck is going

Terri Guest 05:13
so thank you for having me. First off, it’s a pleasure to be here. So just a reminder of how insurance companies work and what an insurance policy actually is. It is a contract between an insurance carrier and the insured. The contract says the insured is going to pay money to the insurer in case something bad happens. And if something bad happens, the insurer under that contract, if the bad thing meets the qualifications of that contract, will pay for the bad thing that happened. Premium is what the insured pays the carrier. The payout for a claim is what the carrier pays the insured if something bad happens. Deductible is, I love how you put this. It’s participation by the consumer. It’s it’s your buy in to take a little bit of responsibility for what’s going on. And and I said that, said this last time I say this often, insurance is kind of like legalized gambling. You’re kind of taking the risk and transferring that to you’re not kind of you are taking the risk and transferring it to be someone else’s responsibility if something bad happens. So that’s what insurance is. It’s a contract between you and an insurance you or the community and the insurance carrier to take the responsibility for of something bad happening and putting it on someone else. So when we’re looking at insurance premiums and how they’re calculated, insurance carriers look at a few things, some things are under the control of the insured, and some are not. So when we’re talking about community associations, there are several things that are completely out of our hands, but that go very much into the calculation of the premium. And those things are the age of the property. You can’t control when your community was built. You can’t control where it was built. If it’s built in the middle of a forest or in a hurricane or earthquake zone, in a wildfire zone, you are where you are, location, location. And you also can’t control when a storm comes or an earthquake comes or or a flood comes. Those things are out of your control. You can’t control how big your association is, how it was constructed. Many communities are wood frame construction, some of them are concrete construction. All of these things you have zero control over. They just are. So what can you control? These are the things you want to concentrate on so that you can make changes to affect your insurance premium. You want to reduce the risk of your common area and your private spaces you want to perform routine maintenance and make sure that you keep your community up to the standards proactive care when it comes to especially wildfire hazards right now, like clearing brush, California, folks are very getting very used to the zone zero laws that are coming into play now and then, this last one might be new language for some folks payout limitations. So in the past, your valuation of your community, let’s say you were your community was valued at $20 million that’s how much it would cost to replace that entire community if it was a total and complete loss. Well, now some carriers are looking at those communities and saying, Well, wait a second, that roof, that roof is over 15 years old, and it’s not really worth that anymore. Kind of like if you think about car insurance, if you have a five year old car or a 10 year old car, and it gets total knock on wood, it doesn’t, the insurance company isn’t going to pay for you to buy a brand new card or replace something that was old. The same now is starting to be more and more true when it comes to roofs, but if you are properly funding your reserve and following what your reserve study is suggesting, and this is what the insurance carriers are actually hoping and counting on, if you look at your reserve study and your roof is 10 years old, and let’s say it has a useful life of 30 years, if you’re following, you should have enough in your reserves to combine with what the insurance is going to pay you for the actual value of of the roof to replace the whole thing. So those two combined together should pay for replacing your roof so and again, that’s called actual cash value that’s being applied mostly to roofs. Hopefully it doesn’t apply to much else. But you never know what insurance carriers are going to pull on us.

Robert Nordlund 09:32
Now, yeah, well, Terry, that’s a good language here. What insurance carriers are going to pull on us? I’ve heard people complaining to me about I can’t get insurance from my 15 year old roof, and I think, why do you really care? Because you should have reserves in place. Because if you’re just about, let’s say, a month from replacing it and you get hit by a hailstorm, why is that the insurance company’s problem? That’s. What you set aside reserves for, and that’s what got my brain spinning during your presentation, about, ah, the intersection of reserves and insurance, how they start to work together, where one hands off to the other,

Terri Guest 10:13
exactly. And, I mean, it’s a cooperative arrangement, right? And this is, honestly, it’s the way it should have been all along, if you think about it, and the insurance companies are just now figuring it out. Wait a second, they should be planning to replace this anyway. Insurance is not a maintenance fund. It’s not a warranty fund. It’s the fund. It’s a policy that will help you get back to where you were before the bad thing happened, but you need to be keeping up your end of the bargain on the other side. So yeah, it’s absolutely a good compliment.

Robert Nordlund 10:42
And in the environment where costs are going up so much and consumers are cost conscious, there’s a way for insurers to say, Hey, you don’t need me to replace your roof. You’ve got the money for it in reserves, so let’s lower your premium, because let’s eliminate that possible payout

Terri Guest 10:59
Exactly. Hopefully they’ll lower the premium. Well, it

Robert Nordlund 11:03
won’t be as high as if they had to replace an entire roof, an entire old roof.

Terri Guest 11:09
So when we’re talking about insurance companies and what they’re looking at, they’re going to be looking at your reserve study. Almost every insurance carrier now is asking to see a copy of the reserve study. Now, for many years, insurance professionals such as myself have been asking to see the reserve study anyway, because we’re looking at what the components are there. We’re using that information to help us figure out how to properly insure the community. But now the insurance carriers are using it for the same reason, but also they want to see how good of a job the community is doing at taking care of itself. They want to see how many components have a remaining useful life. Are you l of zero or approaching zero? Are you funding as recommended? I know some states funding is required. Other states it’s not required, but the insurance carriers are looking looking at all of that. They are looking at what kind of roof you have, how old is it? What material is it? They’re actually asking for roof warranties if you have a newer roof. So the older roofs are usually like 1015, years or older. Those are the ones that are going to end up with actual cash value. The newer roofs 10 years or younger, I believe they’re going to want to see a copy of the warranty for that roof. They’re going to want to know, and it’s a fair question. I mean, they’re the ones that are taking responsibility for paying for it. If something bad happens, they want to know exactly what they’re getting into. So it’s a very fair question, I believe, other questions that they’re asking for, when did you complete this project that might appear on the reserve study, like fence replacement replacement, or trees getting rid of trees, or doing arborist studies and things like that. Infrastructure inspections are something that’s newer being added to reserve studies. I love this. So in the past, reserve studies were what was it? You were looking at things that had a remaining useful life of 30 years or less, generally. So now you have all of these communities that are really getting up in age, and some of those older infrastructure items that were never on the reserve study before, they’re starting to get added because those things are starting to fail. And we’ve found, and it’s super helpful that maybe they’re not failing yet, but let’s at least reserve for an inspection of those items so we have money to inspect them, and that’s getting on the schedule to have these things inspected. The types of things that we want to see inspection reports for are electrical panels. I know a lot of you have heard the term zinsco panels. There’s a lot more companies that make electrical panels on that list besides zinsco, but that’s the one that everyone recognizes, not just the electrical panels, though, but also, what type of electrical do you have in the walls? Is it aluminum? Is it knob and tube? How old is your community and How old’s that electrical system, the plumbing. We want to know that the carriers are going to want to know, is it copper? Is it cast iron? Is it something else? Is it packs? They want to know exactly what it’s made out of. So if you’re looking at your reserve study and you have a line item in there for an inspection, and we know that inspection got done, that’s great. I’m probably going to turn around and ask you for a copy of that inspection report, or you can pre load it and give it to me right when we’re when we’re going to go out to bid. If we have those ahead of time, that would be great. But it’s great to have those reports, good or bad. If they’re bad, you want to know what’s on them so you can reserve and spend your reserve money to fix those issues. If they’re good, great. You can say, Yes, we have old electrical panels, but we had them inspected by an electrician, and they’re in perfect working order. That’s exactly what I would love to hear. Other things that insurance carriers are doing, internet evaluation and drone inspection. Inspections. Drone inspections are more often happening after a company has bound insurance. They’re going out to get a kind of a baseline of what the community looks like after insurance has been bound. Internet evaluations usually happen before during the underwriting process. So they’re going to go online and look at Google Street View. They’re going to go look at Zillow and Redfin and look at property pictures inside of the units and outside of the units to see how the community looks. Is it being well taken care of? They’re looking at trees, they’re looking at asphalt, they’re looking at trip hazards. They’re looking at all different types of things. So you might and we’re going to talk about this a little bit later. You might do a might do a preemptive search to see what you can find about your own community on the internet.

Robert Nordlund 15:47
Yeah, well, Perry, actually, that’s not surprising when we prepare to do a reserve study. When we’re asked for a proposal, the first thing we do is do a satellite view to see how many buildings, what they looks like, how complicated they are, access problems. And if you guys are preparing to make a proposal for an association, same thing, you’re just going to poke around. And if it’s going to be what’s a premium? 50,000 100,000 for that kind of a premium, it’s worth the half hour or more poking around on the internet just to see what you’re up against Exactly. It’s not just the form and cross your fingers. It’s you’re going to be their research. Okay, yeah, let’s turn the corner now. What can you do? And it’s interesting, I think, now that we’ve kind of set the table with what’s going on, and I think you begin to appreciate that the insurers are trying to be a little more careful in finding out what their exposure is to be able to limit their cost increases. What are the risks? And so they’re looking around and again, glad we have Terry here. So Terry, what can consumers do? What can board members and managers do?

Terri Guest 16:56
So first, you want to make sure you update your reserve study and follow the plan fund it like you’re being told to fund it as well as you can repair and replace as recommended. I cannot tell you enough how important it is to be proactive and how much less expensive it is to be proactive as opposed to being reactive. Following your plan and showing that to your insurance professional proves to us that you’re a good risk to take on. It proves to the underwriters that are creating what premium you’re going to pay. It’s showing us that you care and that you are a better risk for us to take on updating infrastructure reports, same deal you want to show you, know, get your electrical inspection. See what’s on there. If there are concerns, take care of them, have the inspection report updated and send it then send that to your insurance professional. A lot of times, we’re trying to figure out, Where are we going to find these documents to gather them up for our insurance person, your reserve study analyst, might very well have many of these reports, because you’ve already gathered them for for that study the last time you

18:03
updated it, right

Robert Nordlund 18:04
right now there’s a good chance we haven’t. So feel free to reach out to your reserve today professional. But I like what you say, get ahead of it, because once the insurance professional maybe has a bad taste in their mouth about your property, that’s hard to change, but if you can get ahead of it and be proactive, talk about this earlier. That really resonated with me.

Terri Guest 18:26
Yeah, exactly. So my job as an insurance professional is to paint a picture of your community for the underwriters, to show that your community is a good risk for them to take on, and that good risk is going to be reflected in the premium and the coverage limits. So it’s my job to make you look good. If you make yourself look good ahead of time, that makes my job even easier, and the result is going to be beneficial for everyone. So if you’re maintaining your primary your property, you’re showing that you care, you’re keeping it in tip top shape. And let’s be clear. I mean, regardless of your reserve study, regardless of your insurance premium, board members and managers, you’re responsible for, sometimes multi million dollar businesses that are people’s most singular, most expensive investment that they ever make in their life. So regardless of all these studies and other things, you want to make sure that they’re living in a place that they like to live, that’s well maintained, that’s safe, that’s the most important part, and the rest shall follow, right? So if you’re caring about the investments and caring about how everything is working in your community, then everything else should just follow right along, like neatly Little Ducks following in a line, all the ducks lined up in rows.

Robert Nordlund 19:39
Yeah, yeah. Maybe, let me add, I maybe should have added one more potential enemy, and that’s the legislators. It’s not the legislators that are forcing you to do a reserve study that’s causing problems. It’s not the reserve study. It’s not the insurance agent. It’s again, it’s Mother Nature and Father Time. You see in the picture there, there’s someone working on the siding. That’s not because the law was written. It’s because. Because you want to take good care a place where you live, maintain safety, maintain property values,

Terri Guest 20:06
yeah, protect the investment. Yep, protect your people. So more things that you can do is gather your documentation, what’s been done recently, what’s been done a long time ago. Make sure you have all the documentation. And I indicated before, you might check with your reserve analyst to see if they have some of the documents that carriers are looking for. And remember, we touched on this a little bit before. Carriers aren’t just concerned with the common area now, they’re also concerned about what’s going on in individual units. So if you are a condo community, let’s say, and you were looking at electrical panels. You might have electrical panels in the common area, but you might also have electrical panels that serve each individual unit and are in the individual unit. Well, the carriers want to know what kind of electrical panels are in those units, even though it’s not the association’s responsibility to maintain, repair or replace those panels. Those are on that responsibility is on the individual unit owner, but now it’s the board’s responsibility to know what’s going on. And why is that? Why do the insurance carriers care? Because if one zinsco panel inside one unit that’s in a building with 20 units ends up going bad and burning down the entire building. That’s why the insurance carriers are concerned about this. They want to know exactly what’s going on everywhere, so they know whether you’re a good risk to take on or not.

Robert Nordlund 21:30
So and you’ve talked about gravity too. Gravity has nothing to do with legislation or your insurance carrier, but if you’ve got bad plumbing, that gravity is going to take over, and it’s going to affect the unit below you, and that’s goes through common area to get

Terri Guest 21:46
there. Yep, exactly, exactly.

Terri Guest 21:49
So something in the past that we in the past, like I said, we’ve, I’ve been doing insurance for longer than I care to admit, but we would get to questions like, you know, what type of blah, blah, blah is in the unit, and we would be able to answer it with that’s the unit owner responsibility, and move on to the next question, and the carriers would be fine with that. That’s no longer the case. We cannot leave those questions unanswered. If you do, you will get declined. The carriers must know the answer to the question. So it’s time for board members and managers and unit owners to start gathering all this documentation and information, both about the community as a whole, but also about their individual units. I didn’t mention this in the last session, but architectural modification requests. When those are being turned in, folks are starting to change the documentation requirements, so that when things are completed, the management company or the board hangs onto those so that when I come and ask them for it, they’ll have it. They’re asking about not just the electrical panels, but also HVAC systems that serve a single unit. They want to know when those have been updated. So it’s a lot of detail, a lot of documentation that you’ll need to get both from the for the community as a whole, but also for individual units. So if you know how old some things are when the work was done, then your reserve study is going to be more accurate, which is always a plus. But also you’re going to have that info on on hand for me when I ask for it. So if you’re doing everything right, toot your horn, man, toot it loud and clear, you pre load all of that information. So how great you’re doing to your insurance professional before your renewal comes around. So we start gathering information for insurance renewals about 90 days ahead of time, sometimes longer. If it’s there an older community that might have issues, sometimes less. If we’re well versed with the community, or we already have all this documents, but if you have any anything new, to tell your insurance professional, gather that information up and give it to me. If you’ve let’s say you did follow your reserve study and you upgraded. You re piped the whole communities over the last year since your last insurance renewal. Tell me about it. Give me the copies of the invoices or the completed report showing that everything was done. Insurance underwriters love that stuff, so we would love to be able to paint that more beautiful picture of you. So brag. Please brag.

Robert Nordlund 24:21
We’ve told our clients in the past that when they finish a big project, stick it in the reserve file. So when you finish your asphalt seal coating, when you finish your roof, stick it in the file so you don’t have to hunt for it later, rather than just stick it in the file. Are you saying that when they do one of those projects, pop a copy over to the insurance professional.

Terri Guest 24:42
Yes, absolutely, 100% on an ongoing basis. Yeah, yeah, got it okay?

Terri Guest 24:48
Or at least stick it in if you’re gonna stick it in your reserve folder, either remember to copy that reserve folder over to your insurance professional, or remember that they’re there. So if I’m asking for stuff, but you know. Where to grab it, but yeah, if you can send it to me ahead of time, that’d Great. Fantastic. We talked a little bit about searching on Google before go on online to look at your community, to see what underwriters are seeing. And Robert has some pictures later on in the presentation that can show you exactly things that we get concerned about, but a little story that I can tell you a community that I ensured was going out to bid for new carriers, and one underwriter came back and declined it because of the condition of the trees in the parking lot and near some of the buildings. I was like, What are you talking about? I live, like, less than a mile from that community, so I knew that there was no issue with trees. And then I went on Google Earth Street View, and I saw what they were talking about. Those trees had been gone for a year or two, at least. But because perception is reality, when you’re talking with underwriters, it got automatically declined because of the condition of the trees. Even though the trees didn’t even exist anymore, there was nothing we could do. So if you can, if you know that that situation is on online, there’s a questionable picture or something that’s been replaced. You’ve, you’ve replaced your roof since Google took that picture five years ago. You can say that in the very beginning, so that when I reach out to the underwriters, I can say, hey, you’re going to see this online, but this is what the roofs look like now. This is what the parking lot looks like now. Well, speaking

Robert Nordlund 26:26
challenged me with this, and so I got to thinking, and this is a picture from Google street view of one of my properties. And when I look at this, I think of, Oh, time for them to turn their trees, and I could remain your life is zero. When Harry sees this, or when an underwriter sees this, they cringe, and they see a problem and so appreciate what? Because it’d be interesting for me to compare what my actual picture of the property was to Street View, but this is what she’s talking about. And we’ve got other things going on, the matter of caring for your property and again, not doing it. Should you

Terri Guest 27:05
actually go back to that picture again? I just spotted something else that an underwriter is going to call out that I didn’t even notice until just now, the balusters and the railings on the stairs and the walkways. Yes, those appear that they might be more than four inches wide between them

27:21
the old space? Yes, so they’re

Terri Guest 27:24
going to call that out too. They’re very much so looking at the spacing and the railings on balconies and on staircases, and you can find that in Google. You can find that on Zillow. So if those have been replaced, then make sure you provide pictures or or mediated, you know, put something up so nothing can fall through the openings. Let us know ahead of time. But that’s, that’s another thing that I see in that picture just now that I didn’t notice before.

Robert Nordlund 27:50
Yeah, again, you have an eye for that type of thing, and you can reduce that too, right? You absolutely, it’s time to get that replaced. And these are things that are either a problem at your association. You don’t want to create problems. Get ahead of it. You heard that so many times a day, already, a trip and fall hazard in the middle of the tennis court. You’ve got something that is simple, expensive, the patio furniture, but it’s a telltale. There’s someone infecting your property, and they see this, they wonder, hmm, if they don’t care about spending five grand for a new patio furniture. What hooks are they not spending money on? And they can look and they can see dry rot. The association is slow to care for the property, and the professional might think, well, if they don’t care, why should I care? There may be hidden problems. There may be water damage behind it. Fuck all, those kinds of things, safety problem, a dock or a finger on a dock that is just playing way past its remaining useful life. It’s not safe anymore. And me, I look at it and I see fall hazard. As Terry and I were talking about this picture on the right, she brought up an important point. Is this the association’s responsibility, or is this a city sidewalk? And is this a five year old picture, or is this current things like that? Terry, what? What are you thinking about

29:09
with this? Again, it goes

Terri Guest 29:10
back to, what can you control and what can you not control? So let’s say this is the situation next to your community, but this sidewalk is city sidewalk, and you are not allowed to do anything with it. Some jurisdictions you can. Some you can’t. If you have communicated the unsafe situation to the person responsible for the unsafe situation, keep track of that and provide that to your insurance professional as well, so that we can see that you’re doing everything possible to rectify the situation.

Robert Nordlund 29:38
Yep, on this picture on the left. I didn’t go out on this thing. I didn’t want to get wet that day. I figured, I’m busy doing a reserve safe site inspection. I don’t want to go swimming. And for me, it’s just remaining your life at zero. But for an insurance professional, they beat dollar signs. They see rich, they pay a liability and so just in the time I was spent. With Terry, I started to think there’s different ways to look at this, and this is just more risk. And it opened my eyes to bigger problems than, Oh, it’s old. It was just fascinating to start to think the way other people think.

Terri Guest 30:16
I mean, reserve studies are a way to not just plan for your financial future, but also control the risk that you’re approaching

Robert Nordlund 30:23
right when something gets old, hopefully you have the money to replace it and solve the problem. Okay, let me bring this program home. What I got from this is that insurers are asking more questions. They want to know what exposure are they going to have? Terry described it as a contract relationship, and they want to know, what am I finding out? What’s hidden? What are the risks, all the types of things a matter of getting ready, assemble the documentation, and hopefully the projects are found in the reserve. The roof got done, the asphalt got done, the docks got done, the sidewalks got done, and make sure that the reserve study is updated and accurate, that all those projects are there. So it’s a nice summary document. And as we’ve heard before, it’s going to take some work. It’s going to take remembering. But as I heard from Terry so many times, my thinking was, how much money can they save? And she was reminding me, that’s not the project. The project is to stay as far away from as possible from being denied. And so, yes, moving towards the preferred risk end of the scale is great. It is going to save you money, but you want to put a lot of distance between your association and being denied or uninsurable, it is expensive. Costs are going up, so the payouts are going up, which means the premiums are going to go up. But prepare for renewal. If you are a preferred risk you can enjoy lower premiums than the high risk clients, and that’s part of what you are doing. We want to set you up for success. So avoid being canceled. Be as far away as possible from the uninsurable list, and as you’re hopefully gathering from being here in our program today, you only get one chance to make that first impression with a new carrier. So put all the polish that you can on to what you’re doing for your association, don’t look like you’re neglecting, because if you show that you’re neglecting, they’re gonna probably increase the premiums, because they’re gonna say, this is a rich year place than the average place. And I show this in just asthma Creek condos. There’s too many associations where the boards are just holding on, and the whole association is floating downstream, gradually getting more deteriorated. This is a high risk place. It’s not just expensive, it’s a high risk place for greater expenses and safety problems. So avoid being the Aspen Creek condominium type of association. Get in front of things. So we do want to encourage you to be able to control costs, your reserves, a professional and your insurance professional are on your team. They’re going to help guide you forward. Because we want you to be the hero for your association. We want you to be the one that can report back we are now a preferred risk. We’re not getting seeing the increases that other associations are seeing. We want you to know the secret a little bit more about you and prendeville.

Terri Guest 33:31
So I am actually fairly new to printable Insurance Agency. While I’ve been in the industry for longer than I care, to admit, I’ve made a recent change to printable. Printable has been around for a long time, mainly in Southern California, but they do, do work in many states. I am located in Northern California, and that’s where I do most of my work, up here in NorCal but we do. We specialize in insurance, specifically for homeowner associations, and that’s kind of what we do. We have some of you might be familiar with coverage corner. I’ve been doing that blog post for over a decade. It’s going to be making a comeback starting next month. So find me on LinkedIn, and you’ll find that blog post, and it’s just little tidbits about insurance and HOA and things that you can do for your community. So find me there again.

Robert Nordlund 34:18
That’s on LinkedIn, and it’s called coverage corner, fantastic. And for anyone interested in reserve study help, you can reach us@reservesteady.com We’ve been doing that now for 38 years. You can see free articles and videos on our website and on YouTube. We have a great top resource called Understanding reserves available on Amazon. 2999 summarizes the foundational reserve, a concepts that we help associations with as we guide them down that trail to the future, helping them prepare for planned expenses. And one of our key tools at Association reserves is you plan it. It’s an online reserve calculator. Year. So once you get your reserve study, you get the PDF the document, yet you also get access to you planet, so you can poke around and see how sensitive it is to the different variations that you might want to dial in as you apply it to your association. And another retort is our weekly 30 minute podcast for board members. It’s called HOA insights, common sense for common areas. It’s designed to encourage and equip board members for the hard work they do, leading their associations, setting them up for success and helping them avoid mine fields and problems. So you can subscribe from any major podcast platform, or you can listen from Hoa insights.org, and with that and the microphone over to Paige, who will coordinate our Q and A time together you.