Which scenario would not be covered under the Loss Assessment coverage in the Condominium Unit Owners Form (IBC 1132)?

The Loss Assessment coverage in the Condominium Unit Owners Form (IBC 1132) is designed to provide coverage for certain assessments that unit owners become responsible for due to losses or damages to shared property or common areas of the condominium.

In the context of this coverage, a large deductible typically refers to the amount that the condominium association may have on its own insurance policy before the coverage kicks in. While a unit owner might still be liable for certain assessments if the association's losses exceed its deductible, having a large deductible itself does not constitute a loss or damage scenario that would trigger Loss Assessment coverage.

Therefore, this scenario would not be covered under Loss Assessment, as the focus of such coverage is on actual financial assessments made by the condominium association for shared losses, legal costs, or uninsured risks rather than the structure of the insurance policy itself.

The other scenarios highlight situations where the coverage is applicable, such as shared damage to common areas, legal assessments, and uninsured losses, all of which could lead to an assessment charged to unit owners that Loss Assessment coverage would address.