Category: Insurance

Insurance
2014 August Identifying Insurance Options

You can’t underestimate the value of insurance. In a simple analogy, operating a business—or the day-to-day business of a co-op or condo—without adequate insurance coverage is a lot like skydiving without a parachute. Needless to say, it’s…

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Insurance
2014 August When Waters Rise

According to a 2013 poll by the Insurance Information Institute, only 13 percent of American homeowners have some sort of flood insurance policy, and those living in New York City are low on that list. After all, New York City certai…

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Insurance
2014 March Protecting Your Co-op or Condo Board

Managing risk is one of the most important things you can do to maintain the viability of a business, and what many board members sometimes forget is that their association is just that, a business. Risk management—the process of identifyi…

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Insurance
2014 January The Growing Importance of D&O Insurance

Most co-op and condo board members are not fully aware of all of the financial risks and liabilities associated with their service. Some may not realize that the management company, the co-op corporation board or homeowner's association is…

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Insurance
2013 November Being Prepared

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…

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Insurance
2013 September Contractor Liability

There has been much discussion recently about the antiquated New York Labor Law 241 and its effect on the availability and cost of insurance coverages for contractors. The fear is that smaller contractors will get priced out of purchasing …

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Insurance
2013 August Understanding Your Insurance Policy's Fine-Print

Suddenly, the room was shaking and the plants around Ron Tepperman’s desk were moving—it took a second for him to register what was happening. Until a real live earthquake shook the city and created panic along the East Coast, that grou…

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Insurance
2013 August Escalating Insurance and Your Contractor

In pretty much all states except New York, if someone doing construction work is injured on the job, workers’ compensation insurance will take effect and cover all medical expenses and lost wages. Here, according to a spokesp…

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Insurance
2013 August Insuring Honesty and Integrity

When you decide to run for a board, you’re usually thinking about all the great changes you’re going to make to your building, along with all the time and effort that you’re prepared to sacrifice for the good of your home. Of th…

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Insurance
2012 October How Much is Enough?

 Legendary funny man Benny Goodman once said, “I don’t want to tell you how much insurance I carry with the Prudential, but all I can  say is: when I go, they go too!” The comedian hits on all-important issue: how much insurance is too muc…

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