Argo U: Insurance Explained
Your building’s coverage matters. Join Wendy Moskowitz and Pat Antonnaci to understand five building insurance concepts all co-op and condo Board members should know.
2:56 – Current insurance climate and marketplace for renewals
5:40 – How to complete a renewal
11:33 – Types of Insurance to have – Property Insurance
14:48 – Types of Insurance to have – D&O Insurance
16:12 – Types of Insurance to have – Liability Insurance
17:43 – Question: Can you clarify if individual board members have any responsibility if a building has a loss for more than it was insured for?
17:59 – Question: Are individual Board Members have any responsibility if a building has a loss for more than it was insured?
21:28 – Capital Improvements
28:58 – Claim procedure and liability issues
38:41 – Types of insurance shareholders and unit owners should have
51:15 – Question: Does the co-op need to become involved if there’s a situation in which one unit’s issue is impacting other units, such as a leak imposing into other units, and multiple insurances are involved?
56:00 – Question: Are there insurance limit minimums that co-ops should enforce onto unit owners and shareholders?
58:53 – Question: If the shareholder’s insurance doesn’t cover the damage for which they are responsible in their unit, is the co-op ever liable?
59:30 – Question: How closely to look at certificates of insurance from outside vendors?
1:01:41 – Question: Do you review the insurance for contractors for shareholder projects in the same way as co-op projects?
1:06:57 – Final remarks