Category: Insurance

When Waters Rise By Keith Loria

According to a 2013 poll by the Insurance Information Institute, only 13 percent of American homeowners have some sort of flood insurance policy, and those living in New York City are low on that list.

After all, New York…

Identifying Insurance Options By Anne Childers

You can’t underestimate the value of insurance. In a simple analogy, operating a business—or the day-to-day business of a co-op or condo—without adequate insurance coverage is a lot like skydiving without a parachute…

The ABC’s of Insuring Your Co-op or Condo By Elizabeth Lent

Sometimes insurance and the terms that accompany it can feel like a completely foreign language. It can be mystifying and overwhelming, whether for individual co-op or condo residents or the board members who oversee the community as…

To Claim, or Not to Claim? By Greg Olear

Individuals, associations and other entities carry insurance coverage to protect them from liability, loss, and other financial and legal threats—that's pretty basic. What isn't always so basic is deciding when to file a claim …

Fidelity Bond Insurance By Sherry Branson

Protection against embezzlement, fraud, theft, computer crime, forgery and more are just the tip of the iceberg when it comes to crimes at community associations across the United States. During challenging economic times, crime goe…

Protecting Your Co-op or Condo Board By Frank DeLucia

Managing risk is one of the most important things you can do to maintain the viability of a business, and what many board members sometimes forget is that their association is just that, a business. Risk management—the process …

The Growing Importance of D&O Insurance By Caesar Mistretta

Most co-op and condo board members are not fully aware of all of the financial risks and liabilities associated with their service. Some may not realize that the management company, the co-op corporation board or homeowner's associat…

Being Prepared By Woody Goldstein

As the autumn leaves change and begin to fall, our thoughts invariably turn to the completion of the hurricane season and the arrival of winter. We are also reminded on an almost daily basis of the lasting results of Hurricane Sandy,…

Contractor Liability 1 By Eugene Podokshik

There has been much discussion recently about the antiquated New York Labor Law 241 and its effect on the availability and cost of insurance coverages for contractors. The fear is that smaller contractors will get priced out of …

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