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ARTICLE VIII <br />I~SUR.ANCE <br />l. TYPES OF INSURANCE POLICIES. For the benefit of the <br />Association and the owners, the Board of Directors shall obtain and <br />maintain such property loss, liability, and other insurance <br />polices, as, in its discretion, it deems appropriate, including, <br />but not limited to, the following: <br />(a) A policy or policies of property insurance <br />including, but not limited to, fire, extended <br />coverage, vandalism and malicious mischief, for the <br />full insurable replacement value, if available, of <br />all units and common elements, and such other fire <br />and casualty insurance as the Board of Directors <br />shall determine, to give substantially equal or <br />greater protection to the owners, as their <br />respective interests appear, of each unit, if any. <br />For the purposes of any policy or policies of fire <br />insurance, the term "building" shall include <br />fixtures, installations or additions comprising a <br />part of the building within the unfinished interior <br />surfaces of the perimeter walls, floors and <br />ceilings of the individual Condominium units <br />initially installed or replacement thereof, in <br />accordance with the original Condominium plans and <br />specifications, or installed by or at the expense <br />of any unit owner or owners; <br />.. ~. <br />(b) Each owner shall either self insure for any <br />liability arising from incidents within its unit or <br />on the common elements or shall carry such <br />liability insurance as it sees fit. No owner shall <br />look to the Association or another owner to carry <br />liability insurance or claim that such coverage <br />should have been procured. <br />(c) Worker's compensation insurance to the extent <br />necessary to comply with any applicable laws; and <br />(d) Any fidelity bonds which the Board of Directors may <br />deem necessary or prudent. <br />The Association shall not be responsible for any loss or <br />damage to personal property of any owner, whether stored on <br />the common elements or in the owner's unit, nor shall the <br />Association maintain any insurance coverage for such loss. <br />2. AUTHORITY TO ADJUST LOSSES. Al1 losses under policies <br />hereafter in force regarding the property shall be settled <br />BYLAWS OF COURTHOUSE SQUARE CONDOMINIUM <br />PAGE - 17 <br />