In today’s litigious society, lawsuits are an unpleasant fact of life. Everyone has a gripe – and that gripe can often result in legal action. The questions are: how is your cooperative corporation, condominium association, or HOA protected…
It’s no secret that insurance is a necessity for any building or association. Nevertheless, the expense of coverage means that issues of liability and risk are all too often examined only after problems have occurred. Usually, insurance hol…
As any manager, board president or building administrator rightly knows, protecting your building community against a man-made catastrophe, natural disaster, act of God, or just basic negligence, is not a trivial task. Property casualty in…
Property insurance, by definition, is a guarantee of compensation for a specific loss or damage to physical property or equipment. Within that broad and simplified explanation there is room for multiple interpretations—and more than enough…
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…
Sometimes insurance and the terms that accompany it can feel like a completely foreign language. It can be mystifying and overwhelming, whether for individual condo residents or the board members who oversee the community as a whole. The i…
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 community, along with all the time and effort that you’re prepared to sacrifice for the good of your home. …
No one needs to be reminded about the personal loss and devastation that Superstorm Sandy brought to the Jersey Shore in October 2012. Natural disasters like these are on the rise and serve to underscore the importance of having approp…
Good afternoon—and welcome to the board. Your mission should you choose to accept it is to make decisions to better your building. The residents may not like you and, more importantly, may not like those decisions. Nevertheless, keep do…
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 …