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Will Citizens Accept Quarterly Premium Payments?

Dear

Many of you may already know that Citizens has begun accepting quarterly payments on windstorm premiums from residential policyholders. This option has not, however, been available to commerical/residential policyholders which leaves many associations who are faced with huge annual premium payments only two options: to specially assess to meet the payment deadline or to finance the premium. Neither of these options are terribly attractive.

CAN has been in contact with Citizens regarding this inequity and we have been informed that Citizens will be considering quarterly payment options for commercial/residential policy holders. The outlook for this becoming a reality is good; we are hoping to see it implemented later this Fall so stay tuned.

The Condominium Advisory Council will be meeting on Friday, July 27th in Clearwater from 9:00 am to 4:00 pm. The location and details for that meeting are posted on the CAN website at http://www.canfl.com under the Upcoming Meetings link. If any of you are in the area and available to attend, it is valuable for the Council to hear your thoughts and ideas about what is needed to assist you and your community.

CAN is already in the process of working with our lobbyist, Mr. Pete Dunbar, regarding our legislative agenda for 2008 as well as discussing legislative proposals that are already being created by other groups which will require our monitoring and input. We will keep you posted as these proposals are drafted. I've heard from many of you already regarding the types of legislative changes you'd like to see to make the operation of your community easier and more cost-effective. One suggestion from a CAN member was that the minimum $10,000 deferred maintenance/replacement threshold for reserves mandated by the Condominium Act needs to be updated as that monetary amount is too low in terms of today's dollar.

Please feel free to continue contacting me with those ideas and suggestions. I look forward to hearing from you and keeping you updated about matters of concern to your community. Please also continue to log on to the CAN website at http://www.canfl.com and check to see what new information has been posted and which new vendors are participating in our Affinity Program which provides special discounts and services to our CAN members.

Best Regards,
		
Donna D. Berger, Esq.
Executive Director of the Community Advocacy Network (CAN)
Telephone: 954.486.7774 
Facsimile:   954.486.7782
Web: www.canfl.com
Email: dberger@canfl.com

For more information, please contact Donna Berger at 954-486-7774 or via email at dberger@canfl.com