Risk & Business Magazine JGS Insurance Magazine Spring 2019 | Page 30

MONEY TO BURN
JGS Knows You Don’t
Have Money To Burn!
A
few years ago, a very large condominium association contacted us
for help. They’d had three fires over the past five years, and now
they were looking at huge insurance premiums. We felt confident
we could help.
Our plan was to try and identify what was causing the fires, and to
put together a plan to help prevent and mitigate the size of future fire losses.
On our very first meeting with the board, as we pulled up to the clubhouse, we
could hear the sirens, and see the flashing light—another fire was happening
right in front of us!
When we sat down with the board, with the smell of smoke in the air, we
discussed the problems. The fires had been caused by a few different causes
(smoking, a candle fire and a kitchen fire) which was actually a good thing. If
the fires had been caused by some kind of systemic problem, like bad wiring that
went through the entire association, the solution would have been very costly.
After meeting with the board,
we marketed the association
to several fine companies, with
diagrams of the buildings
showing the location and
construction of the fire walls
and photographs showing the
well-maintained condition
of the buildings. We put
together a narrative discussing
BY: SEAN M. AHERN, CIC, CIRMS
the association’s loss history,
VICE PRESIDENT, JGS INSURANCE
and emphasized how for an
association with over 900 units,
In 2001, Sean Ahern joined JGS Insurance
the loss results were tolerable, and
as a producer and through his commitment
that the association was indeed a
over the years to the NJ Community
profitable risk.
We were then able to put
together a comprehensive plan
of insurance with an excellent
company which was priced
well below what they were
paying through the incumbent
broker. We won the trust and
appreciation of the board and
placed the new coverage.
Association Institute earned his CIRMS
designation (Community Insurance and
Risk Management Specialist) in 2014. Sean
continues to enjoy developing superior
coverage options for his community
association clients, working closely with
Boards of Directors and other professionals
to meet the challenges presented every day
in the ever-changing world of community
associations.