Creating a Condo Owners Insurance Group

The first step is to a find crediable partner in the insurance industry and develop a solid plan.

If this is doable I will be able to address some of the other questions.
You were given the names of two different organizations that have a history of building custom policies. Please tell us what happened when you contacted them.
located in a low risk area in Florida
I truly question if there is a low risk area in Florida. Remember its not just about the specific location but about the regulatory environment and laws in a given jurisdiction. And the average elevation in Florida is just 100 feet above sea level and my understanding is that its a current causation state.

Custom Policy? I really do wish you the best of luck. As has been suggested, consider hiring an Insurance Consultant.

I would not spend any time on this, until you have an approved set of bylaws that allow you to move forward with this unorthodox insurance set up.

Best of Luck
Not likely under Florida law. Florida essentially requires the condo association to create their own insurance carrier. This means tens of millions needing to be deposited to fund the startup insurance carrier. Then, it would likely start as a low rated carrier & that wouldnt be permitted by mortgage lenders because of the low rating.

[EXTERNAL LINK] - Condo and HOA law: Amending documents, number of board members and a quorum.

In the past, i had seen some associations like a builders association that was able to get a large worldwide reinsurance-like carrier to create a policy that only covered large losses with huge deductibles.....not sure you can pull that off in this current marketplace, but worth a shot

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