August 2010 Vol. 8, No. 8
The August 2010 issue of The New Jersey Cooperator newspaper focuses on Insurance & Board Training.
In this issue, you can read about New Jersey floods, insuring for household hazards and the proper fit in insurance.
Visit our archives to see other articles that were published in 2010.
News Briefs
- 09.01.10 A picture of Tami Wisniewski's grandparents is displayed prominently inside her chic one-bedroom condo unit at CANCOlofts in Jersey City. [NJ.com]
- 08.25.10 -Nearly two dozen residents from the Dover Park Plaza condominium packed town hall Tuesday night and delivered a petition demanding the town reimburse more than $30,000 for expenses related to trash pickup. [NJ.com]
- 08.04.10 With the real estate market still in the doldrums, the Bayonne Planning Board recently approved a developer's effort to kick-start a stalled Bergen Point development by allowing the project to be rentals instead of condominium units. [NJ.com]
- 08.01.10 About 30 real estate executives from across China recently visited 77 Hudson, K. Hovnanian's 48-floor luxury condominium tower in Jersey City, to see what lessons they could take back home. [APP.com]
- 07.23.10 The reality show "HGTV Design Star" will be featuring a Jersey City luxury condo building in this Sunday's episode, according to a news release from the building. [NJ.com]
- 07.18.10 PRC Homes has announced that it has taken over a condominium project in South Bound Brook that already is in its initial stages of development by the property's former owner. [APP.com]
- 07.14.10 The famous Jersey tomato--known for its delectability, and its ubiquity (seemingly no back garden is complete without a Big Boy or a beefsteak) -- is about to make its debut as an amenity at a high-rise condominium complex. [NY Times]
- 07.12.10 A Grant Avenue building in Jersey City with water damaged walls and broken boilers and pipes has caused a condo association president to lash out and accuse developers and local government of corruption. [NJ.com]
Featured Articles
New Jersey is the Garden State ( After All)
Since 2000, New Jersey has experienced five federally declared disasters due to flooding. Hurricane Ivan crashed ashore in July 2004 and quickly became a category five hurricane. New Jersey residents were hit with intense rains, causing millions of dollars in damages to homes and businesses. And the spring floods in April of 2007 covered New Jersey in almost a foot of rain. Extensive flooding destroyed land and property, causing every county in New Jersey to be declared a federal disaster area. And flooding just this past spring continued that pattern of extensive damage to the Garden State. Read More
Insuring for Household Hazards
Mold—it’s an ugly four-letter word in more ways than one. Nobody wants to think about the fact that this fungus can be found anywhere where water leaks or drainage problems are present. Mold can cause serious damage to a co-op or condominium, like ruining drywall, and is believed to trigger numerous health problems in susceptible persons. Read More
The Proper Fit in Insurance
For any condominium or community association, there are certain types of insurance that HOAs cannot live without. Generally those include: property, liability, umbrella, D&O (with employment practices liability (EPL) insurance embedded in the coverage), fidelity, equipment breakdown coverage or more commonly called boiler and machinery (B&M), workers compensation, disability coverage, and when applicable, environmental coverage.Homeowners should also purchase their own insurance to protect their valuables and the contents inside the residence. Read More
