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Thief
FACTS

David Jensen, a longtime municipal judge, respected civil servant, and owner of an insurance company embezzled more than $40,000 from his homeowner’s association (HOA) in the last three years.  This is the second case of this nature in Wisconsin that I have seen in the last four years.  How did the HOA discover the thefts?  According to the Lake Geneva Regional News, Jensen had been treasurer of the HOA for 11 years and after his death on February 8, 2020, the new treasurer found a number of financial discrepancies.  The HOA contacted the police, who investigated the facts and after speaking with Jensen’s wife determined that Jensen “acted alone in the thievery.”  Because of Jensen’s death, no criminal charges will be brought.
Continue Reading Director & Officer Theft of Funds–Your Community Association Needs Fidelity Insurance

Home Insurance

It has been said that insurance is the only product that both the seller and buyer hope is never used. That certainly rings true when it comes to community Associations’ insurance policies, but it does not diminish the need for Associations to protect themselves and their unit owners from an ever-widening array of damages they could suffer. Wis. Stat. § 703.17 requires Condominium Associations to obtain insurance against potential hazards, but only discusses scope by saying that the Association must acquire insurance “for not less than full replacement value of the property insured against.”
Continue Reading It’s Never Too Late to Ensure Your Association is Properly Insured