Category: Insurance

Insurance
2014 August Fidelity Bond Insurance

Protection against embezzlement, fraud, theft, computer crime, forgery and more are just the tip of the iceberg when it comes to crimes at community associations across the United States. During challenging economic times, crime goes up an…

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Insurance
2014 August To Claim, or Not to Claim?

Individuals, associations and other entities carry insurance coverage to protect them from liability, loss, and other financial and legal threats—that's pretty basic. What isn't always so basic is deciding when to file a claim versus payin…

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Insurance
2014 August The ABC’s of Insuring Your Co-op or Condo

Sometimes insurance and the terms that accompany it can feel like a completely foreign language. It can be mystifying and overwhelming, whether for individual co-op or condo residents or the board members who oversee the community as a who…

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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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