apartment building insurance News

Insurer Blocked From Rescinding Policy After Fire Claim Due to ‘Extra’ Apartment

New York City housing is often jammed into tight spaces. Old houses are carved into several apartments. Not all of them are legal. Alexi Home Design’s property in the Bronx had two official residences on the main floor and an …

Courts Find ‘How Many Apartment Units Are There?’ Is an Ambiguous Question

Because its application question about how many apartments were in a New York building was considered ambiguous, an insurer has lost its bid to deny a commercial property insurance claim and rescind the policy. The Second Circuit Court of Appeals …

New Jersey Approves MGA Honeycomb to Sell Commercial Real Estate Policies

The New Jersey Department of Insurance has given Honeycomb Insurance approval to sell policies statewide. The technology-based managing general agent (MGA) serves the commercial real estate market and will offer insurance for apartment buildings, condominium associations and single family rental …

Dog Attack Clearly Excluded From Apartment Complex Owner’s Policy

The animals exclusion in an apartment complex owner’s liability policy is not ambiguous and the insurer rightfully denied a claim involving a boy who was injured when he was attacked by a dog while visiting in an apartment in the …