You’ve heard the saying “it’s not what you know, it’s who you know.” At City Building Owners Insurance, we make it our business to know what and who. Specifically, we know what’s happening in the industry and who the players…
Insurance providers look at many factors when determining what rate and coverage to offer at renewal. The inherent complexity of the insurance industry can leave property owners confused about the variables that increase their insurance premiums. Some factors will always…
New York City’s Department of Housing Preservation & Development (HPD) requires annual property registration by owners of residential buildings that meet the following requirements: Multiple dwelling (3 or more residential units) Private dwelling (1-2 residential units) not occupied by the…
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…
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…
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…
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…