Being Prepared Does Your Board Have a Disaster Plan?

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, or as some would call it “Superstorm Sandy.” Regardless of that storm’s title, the effects on property and human lives are ever present in the Northeast, even a full year later.

Superstorm Sandy, which caused more than $22 billion in insured losses as the second-costliest hurricane in U.S. history, occurred in late October 2012. As such, whether you live in one of the five boroughs or in the suburbs, or whether you live in a high-rise, condominium, town home or single family home, you can protect many aspects of your association by preparing in advance.

Review All Coverage

You can’t purchase insurance after a disaster takes place. However, there are many steps that you can and should take in advance to be certain that you have the proper coverage:

• The board of the common interest realty association (CIRA) should have a member who is responsible for reviewing CIRA’s insurance coverage.

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