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Problem Solved! For Co-ops and Condos
From building repairs and maintenance, energy upgrades, insurance, lobby redesigns, accounting and financing - the challenges facing co-op and condominium board directors are endless. In this series, Habitat Magazine editors interview New York City experts to learn how problems have been solved at their client co-op and condo buildings. We take a deep dive into the issues being confronted, the possibilities for solutions, the costs, the challenges, and the outcomes. Habitat Magazine, founded in 1982, is the trusted resource for New York City co-ops and condo board directors. Visit us at www.habitatmag.com
Problem Solved! For Co-ops and Condos
Why Your Building Could Lose Insurance Coverage Tomorrow
Your building's insurance renewal just became a high-stakes game, and many boards don't even know they're playing. In this episode, risk control specialist Brice Reynolds of Mackoul Risk Solutions reveals how insurance companies are now aggressively using "loss recs" to cancel policies within 30 days, leaving buildings scrambling for coverage. You'll discover what these are, why simple sidewalk cracks and damaged curbs have become threats to your building's insurability and why old strategies for getting insurance no longer work. Reynolds shares real case studies, including how one Manhattan co-op nearly lost coverage due to administrative delays, and explains the specific timeline pressures boards face. This isn't theoretical — it's happening to buildings across New York City right now, and your board needs to know what to do to protect your community's future. Habitat's Carol Ott conducts the interview.
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