As many of you already know, Seville's Board was notified in 2007 that our property insurance policy will not be renewed unless a plan is submitted for modifying the aluminum wiring connections in most of Seville's units within five years.
In Seville's 30+ years, we have had a total of four fires, of which only the last one involved aluminum wiring. It was this last fire, though, that alerted our insurance carrier to the type of wiring throughout the community.
The Board has always been required by our covenant documents to purchase insurance for the Association. The pool of carriers willing to insure townhomes and condos is very small to begin with and is further complicated by our recent fire claim. But if we don't have insurance and there is a fire, natural disaster, accident, etc., all of Seville's owners would have to share the cost of rebuilding as well as pay for any additional liability resulting from injury, loss of life, and so forth. The burden to each owner would be enormous. This is a safety issue that affects people's lives – not just property. No monetary value can be placed on a family member's injury or loss.
As discussed at the 2007 Annual Meeting, this is not a City of Aurora building code issue. The City doesn't care what kind of wiring we have as long as it met code requirements when it was installed. This is strictly an insurance coverage and liability issue.Project Objectives:
- Board to maintain an insurance policy for the property of Seville
- Board to submit a plan for approval to our insurance company by December 15, 2007
- Inform and educate the residents of Seville regarding the dangers of aluminum wiring
- Inform residents of the options of contractors who can perform the COPALUM repair, which is the ONLY approved repair by our insurance company
Voluntary Deadline: 12/31/2011Mandatory Deadline: 12/31/2012