Category: Insurance

Insurance
2002 Aug Covering All the Bases

Accidents happen. Things go wrong. It's a simple fact of life. And sometimes the only course of action is simply to protect against the consequences. Liability insurance takes the sting out of the unknown, creating a safety net for those w…

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Insurance
2002 Aug Bracing for the Worst

Before last September, chances are that most people didn't give much thought to whether acts of terrorism were covered by their homeowner's insurance. Co-op boards and condo associations were more concerned with whether their "all-risk"…

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Insurance
2001 Aug Minimize Renovation RIsk

As construction insurance has evolved into a highly specialized and complex field over the past few decades, effective management of risk and insurance is critical when undertaking a construction project. Unfortunately, there is still no si…

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Insurance
2001 Aug Better Safe than Sorry

By definition, insurance doesn’t fit into the mold of predictability. It’s something we buy, but hope we’ll never need. With some 30,000 structural fires taking place in New York City last year, it’s clear that the unexpected can and does h…

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Insurance
2001 Aug Directors and Officers

The eccentric widow who lives in apartment 3F with her 16 cats claims that undue noise from the musicians in 3G caused her to have a nervous breakdown-and you, the board president, are to blame because the wall between the apartments-two fe…

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Insurance
2001 Aug Are Rock-Bottom Rates a Thing of the Past?

The 1990s were good times for those paying insurance premiums. "We had almost a decade of severe, severe cost cutting," says Coletta Kemper, vice president of industry affairs for the Council of Insurance Agents and Brokers. "They were abou…

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Insurance
2000 Aug Necessity or Luxury?

One might assume that the insurance policies carried by a building would cover any mishaps that would affect residents. This, however, is a misconception. A co-op corporation or condo association takes responsibility for the structural aspe…

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Insurance
2000 Aug Don't Learn the Hard Way

Insurance is always a "hot-button" topic among co-op corporations and condo association boards. Since insurance is an annual expense that is not mandated by a union contract or a city tax assessment, many boards regularly "shop" their cover…

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Insurance
1997 Jul/Aug Directors' and Officers' Insurance

Being elected to serve on the board of your co-op or condo can be viewed as a great honor or a dreadful burden. Those who look for the positive in any new situation will focus on the fact that their neighbors have confidence in their lea…

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Insurance
1996 Dec/Jan Containing Insurance Costs

Members of the insurance industry do not agree on much, but if they agree on one thing it's that insurance can seem like a very complex subject. For board members, there is one clear objective regarding insurance: to secure the lowest pos…

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