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Category: Insurance

Insurance
The NY Policy Holders Protection Act

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…

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Insurance
A Hard Market

Insurance is cyclical; there are hard markets and soft markets, and insurance companies typically make money in two ways: underwriting profit, and investment income. When the market is soft, insurance companies are looking for market share,…

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Insurance
The Claim Conundrum

Sometimes, the choice whether to file a claim with your insurer is clear-cut; sometimes it's not. In this clip, two industry pros give tips on when to file, and when to consider other options. 

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Insurance
2019 August Warranties and Service Agreements

As in life, there are no guarantees when it comes to building systems, parts, and components. But unlike life, there are warranties and service agreements to ease the pain when something breaks down, gets damaged, or proves to be defective.…

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Insurance
2019 August Combatting Kickbacks

Running a community association can be – and often is – stressful enough without the added issue of people in a position of power in the community using that position for personal gain in the form of kickbacks. Whether the offender is a sup…

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Insurance
2019 August Directors and Officers Insurance

At the heart of volunteerism is the notion of doing something for the common good. For many, choosing to live in a co-op or condo community is also choosing volunteerism – specifically, volunteering for board service. But within that sense …

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Insurance
Boards' Biggest Insurance Blunders

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…

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Insurance
2018 August The Chain of Communication

The board of a condominium, cooperative, or homeowners’ association literally exists to serve, and to represent residents’ best interests in the day-to-day business of the association. The relationship between the owner/shareholder and the …

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Insurance
2018 August The Upsides of Board Service

One of the unique things that sets co-op, condo and HOA living apart from living in a single-family home, or even a rental, is the buyer’s choice to live in a community-within-a-community. By purchasing a unit in a particular building or de…

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Insurance
2018 August Responsibility for Repairs

There’s an old adage that ‘insurance is for pessimists’ – but that’s very much not the case. In the world of home ownership, and especially in shared communities, proper insurance is a critical factor in protecting not only your most import…

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