Directors and Officers (more commonly called D&O) insurance protects individual board members from paying out-of-pocket for legal expenses resulting from good-faith decisions they make in the course of carrying out their duties. Here, an in…
Q. Is ordinance or law insurance required in New York State for co-ops? I am being turned down for refinancing my mortgage because our building does not have this insurance. Is it mandated for co-ops? They have all other required insuranc…
When it comes to insurance coverage, whether for your health, your possessions, or your home itself, the question is not should you have insurance, but rather, what policy best meets your specific needs? The same question applies to collec…
Even with proper risk management best practices, it’s impossible to completely avoid all types of insurance claims from happening. At heart, a claim is like any other business dealing—a negotiation. Your ability to convincingly argue your p…
Say you’re in bed and you hear what sounds like the shower going, but it's late, and you're tired, so you pay it no mind. You wake up at 4 a.m. to get a glass of water, and find half the rooms in your apartment flooded— you forgot to turn …
When you live in a Manhattan co-op or condo, one of the things that you need to be aware of is what sort of building systems exist on the property, and more importantly, which of these you are accountable for. When it comes to most bui…
This fall, several massive storms struck the United States in rapid succession. Hurricane Ida cut a huge swath of damage from the Louisiana coast to New England. Record flooding, tornados, and sustained high winds damaged property in profou…