Board members attending: Bill Brady (by phone), Bill Delaney, Lisa Farinacci, Betty Francis, Sean Holland (by phone), Bev Houston
Miscellaneous Other Attendees: Joanne Lowenthal, BCC Manager
BCC Owners Attendees: 65 (est.)
Board Meeting Minutes: N/A
Reports: None
Old Business:
Private Investigator: Tabled until March meeting by unanimous vote
New Business:
Flood Insurance: Discussion showed three bids were obtained from different insurance brokers. No difference in cost between brokers representing different companies. Board believed broker representing Insurance of America did a better job of researching and guidance than other bidders.
Broker advised that BCC was underinsured with a potential major loss to BCC owners . Insuring for the maximum building replacement costs would significantly reduce loss potential to owners at a cost of $13 per year per owner.
Board voted unanimously to increase insured amount to maximum and accept Insurance of America bid. (Details are available from the BCC office.)
Meeting adjourned at 7:45
