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Sea Ranch Club

Areas Association meeting 6/25/08….

First the updates to projects…

“C” tennis courts received a deposit and are estimated to begin the final work in 2 weeks to get it up and running …….

A plumber needs to be brought in to inspect leaks in all 3 building garages….to prevent a major problem if left unattended…moves from “hold”…to action…

Also there are “cracks” in the garage ceilings and an “injection” process needs to be done from underneath…est. cost..$6068. dollars per building …the same system has been used successfully in the past…no action taken..

Still dealing with planter leaks at 2 building” B” locations….

The repairs of “rust” in the” B” pool is on hold until a Director from “B “is in attendance…all 3 were absent at this meeting…although “B” Manager was seated at the table….

“C” pool needs repairs…and also was put on hold to get the correct option to vote on…2 were offered…approx. $1200. dollars….

“A” pool has one heater that needs to be replaced…sited lack of maintenance agreement on it led to a problem that led to its early demise…installed 12/2005…est. $3655. dollars.. checking out the warranty….no action taken….

Air conditioner in Ocean room was installed….$3770. dollars….

4th of July will have extra pool personnel…as in the past…some will be overtime/pool personnel…those from other positions will approx. $9 per hour…

also stated……the board can approve anything from $2500.- 12,000 dollars…

The Landscaping Foreman… Jonathan…updated on annuals being planted…and the ongoing progress of sprinkler heads… and was asked to check out a snake caught in building “A’…to see if it was poisonous …currently in a jar…

It was asked by a Director to look into “rain detectors” for the sprinkler system…which has recently been in the news….

Presentation…..

Smith Watson Parker Insurance…from Hollywood…www.smithwatsonparker.com

Persistent to come to meet the board since January…the agent John Nordinger…came with the owner Larry Watson…….to enlighten all what they could do for SRC…NOW!….

He took a look at our current policy…with Citizens…www.citizensfla.com …and felt it was written…wrong….

They are the largest condo insurance writer in South Florida….since 1934…also the preferred agent of QBE…www.qbe.com

QBE is the same agency represented by our current insurer AON…… SRC….is in the process of trying to get back in QBE for wind insurance next year…

This writer questioned their ranking compared to AON..   they are above AON with their QBE  preferred placement…and was informed SWP is ahead of AON with Citizens insurance also….

They presented …. with Citizens…they could save us…$308 thousand dollars…with the coverage being equal or better….today….

Before we finish the requirements to opt out of the state -run program…

With the changes they will also move us back into QBE for even more savings…

No risk management fee…

5%…rather than the current 10%…

They have offered to a $3 thousand dollar deductible VS a percentage deductible…leaving us open to millions… in comparison…currently!….

Especially in our “All Other Wind”…if we were hit by a smaller event…which is more likely…

BCbythesea…worlds apart from the previous “group plan” based on the “big one”…

Smith Watson Parker is the insurer for the Corinthian…and the the Criterion Condominiums in Pompano….along with the Renaissance III….

Our liability will change from $143 thousand to $65 thousand…

It would just take 1-2 days to make the change…20% fees and charges are included in the proposal given to the board…in that $308 thousand dollar savings…

Other “perks” offered…personal attention from Mr Nordinger…along with the opportunity for residents to independently see if their unit coverage is correct….

All regular insurance would also be taken over….by QBE…as we have now…

The Comptroller came forth at the end…with the help of the former President of the board……with an email from AON that building “C’ will now receive a $168 thousand dollar savings…as it is the 1st  building to be completely shuttered…with the current code….

The Comptroller and the board will now go back to our present insurance agent and ask the “hard” questions…

Why were we not offered the same from AON… as SWP is proposing?….

They will do their due diligence and check the Smith proposal with our current numbers…and policy…

Building Manager from “A’ will contact the other condos…and get their feedback….

more to come….

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