In this episode of Car Chat, Fran McGovern delves into urgent issues community associations face. He spotlights the importance of frequent contract reviews with service providers to manage rising costs, a strategy crucial for efficient community management.Fran also shares useful tips on how communities can protect themselves against negligence lawsuits. He transitions into the topic of homeowner voting, emphasizing the need to educate residents on their role and its impact on their community.He also discusses the power of bullet point amendments in governing documents and highlights the most common shortfall he encounters within these rules. This interview is filled with nuggets of wisdom beneficial to everyone involved in community association management!#CarChatLive #InsuranceIsntBoringEpisode Highlights:✅ David Velasco asks Fran McGovern to talk about the most pressing matters that community associations are facing today. (1:14)✅ From management companies to service providers, David asks Fran how often a community should review their contracts and manage the rising costs. (2:53)✅ Steve Roderick asks Fran how communities can shield themselves again negligence lawsuits. (4:05)✅ Fran talks about the challenges of homeowner voting and how to educate the population on voting's importance and impacts on where they live. (6:42)✅ Fran explains the effectiveness of bullet point amendments when it comes to governing documents (9:26)✅ David asks Fran to tell us the most common inadequacy in the governing documents (10:41)Key Quotes:💡 "Not only can the vendors suggest things like risk management procedures that you can implement to save on insurance they can also help you across the board and educate you, especially in the insurance world on evolving products such as cyber threat insurance, crime insurance, et cetera. So it's always evolving and I think you should see your vendors probably at least once a year." - Fran McGovern💡 "A challenge for the management company, the insurance professionals and the legal professionals to educate the membership on why it's so important to vote for this, you know, cause it, it limits the losses going forward, which will also limit your premiums going forward." - Fran McGovernThanks for listening! Follow us on LinkedIn and watch us LIVE every Monday at 9am EST! http://www.linkedin.com/company/community-association-car-chat

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