I just received this morning A LOT of new information about our insurance from Mr. John Hall, who is a Board Director and who also works as an insurance agent for our current insurance carrier [Thanks, John, for putting it together!]. He provides a lot more information. But I do have follow-up questions and comments re some of his statements, and also disagree with some statements. That is to say I need time to write that, so I will post this this evening or tomorrow. Stay tuned. Obviously, the insurance is a “hot” subject. Presenting facts is important, and so is discussion.
Thanks for putting together a great newsletter blog for the owners. very informative and the time you invested is clearly revealed. As to the insurance, some boards have a conflict of interest clause which is difficult to get once everything is in place and there are people on the board with competing interests. not to cast any aspersions on the current board member, however, there is a potential conflict of interest if he is an agent for the insurance company in which the Ilikai is insured. If the selling agent, he gets a commission which can be hefty for such a large premium so has a personal and competing interest in seeing the comapny get the Ilikai as a client. On the other hand, if simply an agent for the company with no financial tie to this particular policy, (or even if he does get a commission) if he gets a discount on the policy by nature of his position and that discount is better than other rates the Ilikai can get, then it becomes mutually beneficial. Just some thoughts and areas of inquiry.