In the wake of a tragedy of the size and scope of the recent building collapse in Surfside, Florida, many board members in condos, co-ops, and HOAs have concerns about what liability they may assume in their administrative role. This concer…
For many, the topic of insurance can be a bit overwhelming. Even the terms we use as insurance purchasers differ substantially from the terms industry professionals use when discussing and settling claims - which can leave laymen feeling li…
By its very definition, insurance coverage is planned protection against both the expected and the unexpected. Life insurance clearly provides financial security in the event of death, which of course is an eventual certainty. But at the sa…
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…
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,…
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.
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.…
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…
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 …
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…