Insurance can seem like a mundane administrative afterthought — right up to the moment you need coverage. In a community association, just because a responsible board handles the lion’s share of maintaining the policy covering common areas …
For many people, insurance seems like its own mysterious realm, filled with terminologies that sound formidable and enigmatic. At the same time, people also understand the profound importance of insurance and what it can mean for the safety…
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, …
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…
In a recent case decided on August 12, 2015, the New Jersey Supreme Court held that an association is not immune from liability for personal injuries sustained on a sidewalk which is privately owned by the community association. This ruli…
In the tri-state area, where even the most profligate among us may shed a tear or two at hotel room prices, the homesharing trend has grown by leaps and bounds, with more co-op and condo owners than ever renting out their units to short-st…
Boards and associations, just like individuals, carry insurance coverage to protect them from liability, loss and other financial and legal problems, although the issues may be a little different than the typical auto or single-family home…
Data breaches can happen from hackers, employees, competitors, vendors or other third parties and can be intentional or accidental. It is well documented that even the best security systems are being hacked at an alarming rate. Most recent…
For co-ops, condos, and HOAs, insurance premiums are some of those quiet necessities that tend to fly under the budgetary radar until it is time to examine the bottom line, provoking a search for savings. Without a doubt, insurance e…
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…