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title: "NYC Insurance Market: Coverages Challenges and Best Practices"
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# # State of the Insurance Market for NYC Condos & Co-ops

Property insurance is among the greatest rising costs for New York City condo and co-op boards, especially general liability and umbrella policies. Our insurance brokerage affiliate, FS Insurance Brokers hosted an in-person panel to discuss:

- Proper risk mitigation/transfer: 
    - Vulnerability of boards to construction-related and labor law claims

- Umbrella insurance 
    - Increasing deductibles and premiums
    - Addition of exclusions to coverage
    - Fewer programs offering adequate protection from major claims

- Directors & Officers (D&O) Liability: 
    - Why boards need higher coverage limits
    - Claims Trends: Wrongful termination, emotional support pets, and breach of fiduciary duty

## Our insurance experts included:

- Sean Kent, CPCU, Senior Vice President, FS Insurance Brokers
- Jillian Menna, JD, MBA, CPCU, General Counsel, Genatt V; and Of Counsel, Braverman Greenspun, P.C.
- Alison Zuffi, Insurance Director, FirstService Residential

Learn more

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