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Insurance may not be the most exciting topic facing boards in multifamily co-ops and condos, but decision-makers neglect it at their peril. Here, an insurance pro outlines some of the more common mistakes he sees boards make when it comes t…
When it comes to selecting a multi-family building insurance premium, the natural tendency is to go with the least expensive option. But cheaper doesn't always mean better or even proper. Insurance expert Edward Mackoul outlines the common …
There are few things more traumatic than dealing with a fire in one's home. From loss of possessions either replaceable or one-of-a-kind, to the exponentially more horrific potential of lost human life, the baseline is bad -- and things can…
It’s that time of the year again: the Christmas lights are up; the air smells of pine trees and potato pancakes; and there’s a possibility of snow, sleet and ice. There’s also a chance that someone might slip and fall at your co-op or co…
Every board knows how important it is to have adequate, up-to-date insurance coverage to protect their community from liability, disaster, and other expensive situations -- but what about board members themselves? Directors & Officers (D&O)…
Property insurance is one of the most important components of protection for common interest communities. It protects the property, association, corporation, board members, and residents from potentially financial consequences in the event…
In a scene from the 1985 historical drama Out of Africa , Lord Delamare (portrayed by Michael Gough) asks the Danish writer Isak Dinesen (played by Meryl Streep) if she had insurance after her coffee farm in Africa burnt to the ground. “…
With so many people leading busy, sometimes hectic, lives that revolve around work, kids, social functions, and other obligations, it’s often very difficult for co-op/condo/HOA administrators to find residents willing and able to serve thei…
Successful association or cooperative living requires harmony between all parties involved, from management to staff to board to residents. Should one of these groups put their own self-interests above the common good, the wheels can come o…
Insurance liability is a very important issue for a condo or HOA association or a condo board. Most have built up a good relationship with their insurance agents or brokers, and many are content to leave the details to the pros. However, …