Change is hard. Whether you’re considering a new insurance agent or a new hairstylist, it’s usually easier to stick with the one you have. But the one you have might be costing you—time, money or even both. After more than…
When buying commercial property insurance, smart shoppers look for two things: the right coverage and the best rates. But comparing commercial insurance policies isn’t always easy. Plus, building owners don’t always know which coverages to look for or which conditions…
Owners of residential apartment buildings in New York City have certain landlord responsibilities for maintenance and safety. Many of these responsibilities are outlined in multiple codes and laws, including the New York City Housing Maintenance Code (HMC) and New York…
Building ownership, particularly for landlords, comes with inherent risks of loss. That’s why it’s especially important for owners of rental properties to have liability insurance as part of their risk management strategy. Beyond insurance, this article offers other best practices…
In our litigious society, association boards and property managers need to protect themselves against legal action. Consider the following examples of actual disputes: One association board spent $1 million defending itself against a resident allegation that a special assessment was…
In an older city like New York, Ordinance or Law coverage makes a lot of sense for building owners. Also known as building ordinance coverage, it protects property owners against higher repair costs resulting from building code or ordinance enforcement.…
The master insurance policy of a condo or co-op affects not only the property, but also individual residents. When buying insurance for a condo or co-op building, the managing entity needs to balance adequate protection with fiscal responsibility. Having the…
Under New York Labor Law Section 240 (1), also known as the Scaffold Law, building owners and/or their managing agents may be held liable for certain on-the-job injuries to contractors. The legislation was enacted in 1885 to protect construction workers…
Various New York laws require landlords to post specific signs and notices for tenants. These include the Housing Maintenance Code (part of the NYC Administrative Code), the Multiple Dwelling Law, and the Rules of the City of New York. As…
Shopping for commercial property insurance can be tedious and confusing. Or it can be incredibly straightforward and simple—but carry big surprises at claim time. We hope you never experience a claim. If you do, however, we especially hope that you…