By JAY ROMANO September 30, 2001 SIMPLY stated, property and casualty insurance provides that in exchange for a relatively small amount of money paid by a policyholder, an insurer promises to pay a relatively large amount of money if a relatively unlikely event — like a fire or other catastrophe — occurs. It is the […]
Category: Risk Managment
By JAY ROMANO April 16, 1995 Is your wallpaper insured? How about your new parquet floor? Better yet, how about your downstairs neighbor’s wallpaper and parquet floor? Or that original Picasso hanging over their fireplace? If you’re a single-family homeowner, you probably don’t have to worry about such details because your homeowner’s insurance typically covers […]
By JAY ROMANO JAN. 11, 2004 Last summer, the internal drain in Stanley Watkins’s through-the-wall air-conditioning unit became clogged and overflowed, resulting in damage to the parquet floor in his Manhattan condominium. Experts called in to assess the damage recommended replacing the entire floor rather than repairing just the damaged portion. Mr. Watkins filed a […]
By JAY ROMANO November 28, 1999 Homeowners are often admonished to make sure that the hazard and liability insurance on their homes is up to date and that it provides all the needed coverage. Co-op shareholders are likewise advised — usually by boards of directors or the building’s lawyers — to obtain insurance for the […]
By JAY ROMANO August 19, 2001 IF your house burned to the ground tomorrow, and all your personal possessions were destroyed, how much would your insurance policy pay? If you cannot answer with some degree of confidence, how about this one: What kind of coverage do you have on your house and its contents — […]
Insurance May Cover Corrupt Acts By DENNIS HEVESI / November 7, 2004 There is some good news for cooperatives and condo-miniums that feel they have suffered because of the alleged bribery, extortion, kickbacks and other corrupt acts of some real estate managers and management companies. Insurance may cover the losses imposed upon them, but only […]
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