The recent flash flooding resulting from Hurricane Ida and other torrential summer storms around the nation has come as something of a wake-up call for homeowners and local governments alike. The real-world effects of climate change are upo…
In the wake of a tragedy of the size and scope of the recent building collapse in Surfside, Florida, many board members in condos, co-ops, and HOAs have concerns about what liability they may assume in their administrative role. This concer…
In the wake of a tragedy of the size and scope of the recent building collapse in Surfside, Florida, many board members in condos, co-ops, and HOAs have concerns about what liability they may assume in their administrative role. This concer…
For many, the topic of insurance can be a bit overwhelming. Even the terms we use as insurance purchasers differ substantially from the terms industry professionals use when discussing and settling claims - which can leave laymen feeling li…
By its very definition, insurance coverage is planned protection against both the expected and the unexpected. Life insurance clearly provides financial security in the event of death, which of course is an eventual certainty. But at the sa…
Of all the duties - and challenges - a co-op or condo board has to keep track of, insurance likely doesn't rank among the most thrilling; but of course that's no excuse to remain in the dark about changes to coverage-related legislation. In…
Q. I’m on the board of a complex of three buildings housing about 282 units. Our insurance company is pressuring the property manager to get us to raise our insurance coverage level to cover the cost of completely rebuilding our buildings…
Compared to rowdy annual meetings or catastrophic plumbing leaks, insurance may not seem like the most exciting aspect of serving on one's co-op or condo board. But neglect it at your peril! Mishandling claims - whether deliberately or acci…
Insurance can seem like a mundane administrative afterthought – right up to the moment you need coverage. In a community association, just because a responsible board handles the lion’s share of maintaining the policy covering common areas …
Insurance may not be the most exciting topic facing boards in multifamily co-ops and condos, but decision-makers neglect it at their peril. Here, an insurance pro outlines some of the more common mistakes he sees boards make when it comes t…