The start of 2020 has been a continuation to commercial real estate insurance rates increases experienced in 2019. Insurer’s new guidelines have led underwriters to be much more selective for both new and renewal business. Carriers are focused on quality business along with risk management controls. In addition to a spike in premiums, insurers are […]
2019 State of Insurance Market: NY Multi-Family Real Estate Catastrophic losses mean changing market dynamics Did you know most insurance companies are global? When Japan experiences earthquakes, floods and typhoons, the losses incurred by an insurance company, will actually have an impact on the cost of your insurance here in the US. In 2017 insurance […]
He’s making a list, and checking it twice! As we countdown to 2020, now is the perfect time to complete this simple insurance checklist to bring you peace of mind in the New Year! 1. Review Your Policies I know it sounds simple, but when was the last time you reviewed your home, auto, life […]
The way we work has forever changed. Co-working office space has become the fastest growing trend in commercial real estate. Also referred to as shared office space, co-working offers small businesses, entrepreneurs, and freelancers access to all the benefits of traditional office space (and more) without the cost of a lease. In fact, co-working spaces […]
As cyber attacks and data breaches continue to threaten businesses of all sizes, more and more business owners are turning to their cyber insurance policy to help mitigate the risk. Unfortunately, many traditional CGL policies, or commercial general liability policies, specifically exclude certain liabilities that result from a cyber attack. Therefore, you will need to […]
As a contractor in New York, purchasing insurance can often be a headache. Among the various construction and labor laws, there are certain insurance exclusions that could put your firm at risk of tremendous claims. If you have experience working with brokers on specific projects, you may have heard of an exclusion referred to as […]
Personal Excess Liability Insurance (also referred to as Umbrella Insurance Policy) may be one of the most overlooked products by high net worth individuals and families. Because of this many clients are potentially exposed to substantial financial loss. Perhaps you have umbrella liability coverage but don’t understand how it works. Has it ever crossed your […]
Insurance is not something we think about everyday (unless you’re me!). Like many of my clients, you may own one or multiple high-value properties. Maintaining a luxury home is a great responsibility, and carrying appropriate insurance is the best way to protect it from financial loss. As we all know, what you pay for is […]
With an estimated $150 billion to be spent between 2017-2019, New York City construction costs are ranked amongst the highest in the world. While bidding for jobs in this competitive and fast-paced market, many contractors are looking for ways to keep their overhead down. When calculating the costs and expenses for upcoming projects, buying cheap […]
When one hears “Environmental” or “Pollution” damage, the first thing that typically comes to mind is an oil spill or other major events. As a contractor, you know that contamination can happen at even the smallest of sites, and in the most unexpected ways. Pollution liability insurance claims are severity claims, not frequency claims. This […]