Why Contractor Insurance Policies Matter More Than Ever
Update: 2025-03-31
Description
Labor law insurance claims continue to threaten insurance coverage for buildings, but there are some actionable items co-op and condo boards can take to reduce this exposure. Sean Kent, senior vice president at FirstService Insurance Brokers, explains what they are, and how a 250-unit Bronx co-op overcame an insurance crisis when labor law claims threatened their coverage. Habitat’s Emily Myers conducts the interview, and in it Kent explains the difference between admitted and excess/surplus carriers (with premium differences of 100-300%), why timing is everything during insurance renewals, and what the “new normal” costs are for insurance and umbrella liability coverage.
How To Run Your Building: For Co-ops and Condos
Comments
In Channel
Download from Google Play
Download from App Store
United States00:00
00:00
1.0x
