I have had comments that the first version of my writing on the "Tsunami" was somewhat difficult to understand. I will try to make it clearer.
During 2007, the insurance marketplace was still reeling from the increase in major storm activity, and our insurance company (WPRF’s Insurance), Zurich, believed raising our deductible could reasonably reduce their risk. The actual deductible was $ 2,400,000.00.
The team at WPRF sought to reduce that increase in the deductible by seeking another insurance company to offer coverage for part of the deductible. The company would insure
$ 1,400,000.00 for a price of $ 194,000.00 or about $ 2.06 per month per unit. That means Unit Owners would be responsible for only $ 1,000,000.00 deductible, which remains in our WPRF Reserve fund!
Those responsible at WPRF emphasized their understanding that the agent, offering the additional coverage “reducing the deductible by offering a policy for $ 1,400,000.00”, was open to extending the coverage “for two hurricane seasons” – both 2007 and 2008.
The election of one does not crown that person as entitled to make decisions without the counsel of his/her peers. Even though the Operations Committee has no responsibility to provide a vote for such items at the Delegate Assembly, clearly to choose to do nothing is precisely “poor judgment”.
What is difficult to understand is why we heard nothing about this until 6 month into the policy and 3 month into the WPRF budget year. The Operations Committee choose not to include this additional premium in our payments, LEAVING US WITH THIS, to quote others,
“TSUNAMI”. Blaming WPRF is totally WRONG. It was a UCO Operations Committee mistake that will cost each of us $ 305.00 if a storm hits when if included in the budget – our costs would have been $ 25.00 out of pocket
Why do we hear only the views that make our UCO Administration look good?
When will they permit us to participate in those issues WE believe important.?
Why did anyone FAIL TO IMPLEMENT this PROTECTION FOR THIS VILLAGE?
It truly is time for change – tell your delegates – this disregard of the Delegate Assembly is just plain irresponsible.
Tuesday, February 5, 2008
“TSUNAMI”
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4 comments:
It is complex, but I think what is more confusing is that Tsunami is so different from what we heard at the Delegate Mtg.
I heard - The evil WPRF is completely uncooperative and unresponsive to UCO ideas because they like their Zurich insurance policy which covers all the Century Villages and pays up really well. WPRF also refused the plan to reduce deductibles by separating insurance for Clubhouse, Hastings, etc. The other Century Villages are not active in asking for improvements to the rates/deductibles.
Actually it is reported that Boca will never return to Brown & Brown - the company that bid for us!
Discussions should begin now through June 2008 for the policy renewal period. Perhaps the company Zurich will permit more reasonable deductibles with “competing bids”! Negotiations should improve their attention to our concerns, as well.
How can residents have any input into Operations Committee meetings when the committee uses an excuse that there's no room for outsiders by meeting in the smallest room it could find, the Channel 63 room, when next door there is a large room. Bob Marshall is on the committee; is one of his campaign pledges going to be that he wii move the Operations Committee to a bigger room so residents can attend? sylly
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