responsibility of the individual shareholder. ….

responsibility of the individual shareholder. Today, since that deductible is $100,000—twice as much—the member now has only $200,000 in coverage available. If they need more coverage for their personal needs, they need to raise their policy limits.

Again, as the deductible exists for both property and liability (which are separate coverages), the prudent thing would be to examine your policy levels for both areas of coverage with your insurance carrier to determine if you have enough coverage for your personal needs in the event the entirety of the master deductible is your responsibility.

Many members have also approached us with questions about the limits on their loss assessment insurance. Loss assessment coverage is not something that has been impacted by the changes in the master policy, and there is no need to make modifications to your limits as a result.

Again, it is impossible for GRF staff or individual directors to provide individual and specific advice for every member’s situation. Our hope is that this information will provide some clarity for the needed conversation with your insurance provider.