Phone hacking. Password hijacking. Virtual identity theft. With new technology comes new challenges, and online security threats are chief among them. When it comes to protecting and insuring the privacy of one's residents, it's impera…
Good afternoon—and welcome to the board. Your mission should you choose to accept it is to make decisions to better your building. The residents may not like you and, more importantly, may not like those decisions. Nevertheless, keep do…
Insurance is a tricky business. Sure, people usually know the types of incidents that necessitate an insurance claim (fires, floods, leaks, etc.), but when something happens in a co-op or condo and an insurance claim is filed, few real…
Operating a business—or the day-to-day business of a co-op or condo—without adequate insurance coverage is a lot like skydiving with an untested parachute; you may land just fine...or the result could be catastrophic. If your condo or c…
Q Our condo building has a lot attached with parking for six cars. On the far side of the lot there is a garden and a playground. We have a member who has requested to use the garden, playground and parking lot for a party. Cars will be…
Mold—it’s an ugly four-letter word in more ways than one. Nobody wants to think about the fact that this fungus can be found anywhere where water leaks or drainage problems are present. Mold can cause serious damage to a co-op or condom…
Recently, a 36-year-old New York City restoration contractor was charged with multiple counts of workers’ compensation fraud and falsifying business records. He was hired as a sub-contractor, but he allegedly submitted three fraudulent …
For any co-op or condo in New York, there are certain types of insurance that they cannot live without. Generally those include: property, liability, umbrella, D&O (with employment practices liability (EPL) insurance embedded in the co…
Q Our co-op has a question about our various insurance policies. Our insurance agent has recommended to the board that we keep our Directors & Officers (D&O) coverage separate from our general liability coverage. I understand that som…
Q Our co-op has a question about our various insurance policies. Our insurance agent has recommended to the board that we keep our D&O coverage separate from our general liability coverage. I understand that some commercial general l…