Cyber attacks are on the rise. According to the Hiscox Cyber Readiness Report 2024, the number of U.S. businesses that experienced a cyberattack has risen steadily for four years in a row, and 67% of U.S. businesses report having been attacked. Last…
Summertime in the city conjures thoughts of picnics, sporting events, and lazy days at the beach. But the warm weather also brings more roaches and rodents, the most common unwanted inhabitants in New York City buildings. Recent legislation on bed bug…
When comparing insurance policies for your apartment building, make sure you understand the differences between Basic Form coverage, Broad Form coverage, and Special Form coverage. The first two might save you money in the short term. However, no one wants surprises…
New York City landlords must perform annual inspections of units for indoor allergen hazards under New York's indoor allergen law. New York’s Local Law 55 of 2018, also known as the Indoor Allergen Hazards Law, requires property owners to keep tenant units…
Open violations can cause problems for landlords when renewing the building’s insurance policy, even if they still have time to correct and certify the violation before the agency deadline. As part of our annual review process, we request property reports…
While some property owners are handy and enjoy upgrading and maintaining their buildings, most people rely on professional contractors. Even minor repairs and improvements, however, can involve some level of risk. Landlords and building owners in New York face additional…
Even landlords who love dogs might want to rethink the pet policy for their buildings. According to the Insurance Information Institute (III) and State Farm, dog bites and other dog-related injuries cost $1.57 billion in liability claims in 2024. This figure represents…
A chief source of friction between landlords and tenants stems from disagreement over what constitutes normal wear and tear versus excessive damage to a rental property. Naturally, these disputes typically arise at the end of the landlord-tenant relationship, after the…
The landlord insurance market has been tough for years. Various external forces—from higher construction labor and materials to more frequent and severe natural disasters—have driven up insurance premiums. Not surprisingly, many landlords are shopping for insurance deals. At City Building…
Many property owners who have multiple buildings in their portfolios ask whether we recommend separate insurance policies. We present options for a master policy and provide them with the information they need to choose the right protection for their needs…