Insurance sounds like a simple concept: you pay a premium to your insurer, and then when you file a claim, your insurer pays you. Simple. Insuring a co-op or condo building shouldn’t be much different than insuring yourself—just on a b…
While there are many similarities between co-ops and condos, are the two very different when it comes to things like insurance and liability? The answer is both yes and no. There are similarities, but some significant difference…
Q Our co-op board has been sued by a shareholder. We’ve notified our directors and officers (D&O) liability carrier of the lawsuit, and our carrier has in turn appointed a defense counsel to defend us against the lawsuit. Do we as a boar…
When it comes to insuring a co-op or condominium community, a belt-and-suspenders philosophy could prove the safest – and perhaps, most advantageous – choice. Getting that extra coverage means going beyond the basics of property and li…
It’s important for cooperative corporations to have enough insurance to cover any unexpected problems that may arise, and one of the most crucial policies in any corporation’s insurance portfolio is directors and officers insurance, mo…
With annual meeting season upon us lots of shareholders contemplate leaving the sidelines behind to join the ruling class. Before you decide to cross over, be forewarned that the grass isn't always greener on the other side. To help you mak…
By now, you have already heard about the "dramatic" changes in the Directors & Officers insurance marketplace. You have also most likely heard about the increasing number of lawsuits against directors and officers, and why associations …