President’s Message

Th e Times Th ey Are A Changin’! Bob Dylan’s 1963 song is more relevant now than ever. We are in the midst of unchartered territory as the world faces unprecedented challenges related to the COVID-19 pandemic. It is diffi cult to think about business issues during such times, but this is the time that we, as a Chapter, need to come together to lead and support one another.

As I write this article on the fi rst of April, it is unclear how long the Stay-at-Home Order issued by Governor Hogan will continue. During these changing times, we have had to alter our normal mode of operation. In an eff ort to be proactive and keeping the safety of our members in the forefront, we canceled and rescheduled all seminars and in-person gatherings through the end of May, rescheduling them with optimism to begin in July.

Th ese uncertain times presented us with challenges that allowed us an opportunity to seek alternative avenues to continue to provide educational opportunities for our membership. Th e April 4th Homeowner Seminar scheduled to be held in the Chapter Offi ce was reformatted to be presented as a free webinar. Many thanks to Steve McConoughey, our CED, and his vast knowledge of technology, Angela Marsh and Kathleen Abdo, our staff and Russ Fernandes, Scott Daily and Bill Hasselman, the presenters, for hosting a very well-received webinar with more than 50 attendees.

continued from cover page ciation will incur as a result of a data breach. Th ese include the costs associated with notifying and credit monitoring those who’ve been compromised, public relations expenses, costs to restore/replace data or soft ware, and network extortion payments to avoid an outside compromise. Th ere’s also a part that will pay for loss of profi ts and expenses, as well as contingent income for a fi rm or organization being interrupted by a breach. All of these are included in cyber policies, being known as “First-Party” coverages.

Th e other source of loss in relation to a cyber breach is the liability expenses that the fi rm would owe to their members, clients, customers, or anyone else who has information with them. As a result of a cyber-related event, the fi rm may have to pay for costs of legal defense, settlement, or punitive damages as a result of being liable for the failure to protect private/confi dential information of a third-party. Th e fi rm may also become contractually liable for payments owned to credit card companies for the incident. Th e cyber insurance would provide this “third-party liability” coverage for these fi nancial burdens.

Associations need to understand that these losses are not covered under most General Liability policies. It is also important to mention that the Directors and Offi cers policy (D&O), may provide for a small amount of coverage, but would be borderline useless in the event of a claim. Also, within the next few years, cyber incidents will be entirely excluded from Directors & Offi cers policies. In addition to all the safeguards put in place, a separate Cyber Insurance policy is a must have for associations moving into the new decade.

Written by: Jack Pittas Business Development Account Executive, Quest Insurance, Inc. 703-961-8886 jack@questinsurance.us

I would like to express my sincere gratitude to the staff , Board members, and committee members for their dedication to the Chapter. Th ey are all continuing to work diligently via conference calls to maintain the Chapter’s goals.

Uncertainty is not failure; it is a chance for growth. Our adaptability is our strength. I am so very proud to be a part of a group that has not only met these challenges head on, but has thrived!

Please stay healthy and safe. I hope to see you all in the very near future!

Warmest regards, Vicki E. Eaton, CMCA®, AMS®, LSM®, PCAM® Community Association Services vicki.eaton@casinc.biz

Attention Members! We want to thank you for your patience as we adjust to the changing regulations for events and number of people allowed at gatherings. Based on the current conditions, our July and August Breakfast Seminars will be changed to a Webinar format. Continuing education credits will be available for Breakfast Webinars. The Breakfast Webinar registration links are below:

Breakfast Webinars (Member—$20, Non-Member—$30, two continuing education credits available)

Wednesday, July 15 “Make America Green Again” https://caimdches.eventbank.com/event/22812

Wednesday, August 12 “Crime Detection, Protection & Prevention, A Common Sense Approach” https://caimdches.eventbank.com/event/22981

Thank you again and stay safe and healthy! —CRC-CAI Staff