I have had the privilege to speak with Homeowners Associations throughout Colorado. I have chatted with HOAs in Durango, Telluride, Summit County, Colorado Springs, Estes Park, and a handful of other areas. Listening to the struggles some folks are having is an important step in trying to find any and all solutions in the current marketplace.

This week I had the opportunity to speak with the Keystone Homeowners Association, a group comprised of HOAs in the Keystone area. We talked about the struggles that a lot of HOAs are having in areas that are more prone to wildfire. We had a great conversation about the need to be diligent in the search for adequate coverage for the HOA. We discussed the need in today’s climate to have an agent that is comfortable with building a “tower” of insurance to meet the needs of the HOA. In our conversations we discussed the importance of searching for coverage in a structured environment, meaning the board of the HOA needs to delegate certain people to help with the search. This could even mean creating an “insurance committee.”

There were questions about how the newly passed legislation (Colorado’s FAIR Plan) may help the HOAs. I explained exactly how the FAIR plan can be implemented in an overall insurance program as the plan continues to get built. Some of the important topics we need to keep discussing are mitigation, preparedness, defensible space, and other tools to minimize risks. PIIAC is continuing to try and find solutions to help the independent agent gain more resources to tackle the hard market and a greater ability to help their clients.

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