Handling Property Claims in Condominiums and Co-ops
Property insurance events in condominium and cooperative buildings often result in disputes, strained relationships, and unnecessary delays. These challenges arise from the unique complexities inherent to such buildings, where rules, operations, and stakeholder interests vary widely.
When serious property damage occurs, the process of resolving these complexities is frequently left to under-qualified personnel, such as property managers or building consultants. Meanwhile, insurance carriers—whose interests often diverge from those of the condo or co-op association—handle the claims process, leading to delays and settlements that may not be timely, or fair.
Disputes commonly arise over questions of responsibility for repairs, maintenance abatements, the value of the damages, or even the cause of the loss itself. At Eastern Public, we specialize in navigating these complexities. Our extensive experience allows us to work on behalf of condo/co-op associations and unit owners to expedite resolutions and achieve optimal outcomes.
Our Proven Process
Step 1: Investigate, Document and Mitigate the Loss
Ensure thorough investigation and documentation of the damage and coordinate and monitor mitigation efforts to prevent further loss.
Step 2: Identify Liabilities and Subrogation Interests
Establish clear communication channels with all affected parties and determine areas of responsibility and potential liability.
Step 3: Assess Policy Coverages and Limitations
Review all relevant policies and records to understand coverage, exclusions, and limitations.
Clearly communicate expectations and standards to carriers and stakeholders.
Step 4: Accurately Assess Damages
Conduct a comprehensive evaluation of the property to prepare detailed damage claims with knowledgeable foresight that reduces disputes and expedites settlements.
Step 5: Negotiate and Resolve Claims
Present well-supported claims to the insurer and negotiate to achieve a fair and timely resolution.
Why Eastern Public?
Effectively managing claims in condominium and cooperative buildings requires a high level of expertise, coordination, and clear communication. In metropolitan areas, where these claims are most prevalent, the challenges of organizing resources and maintaining open communication among all stakeholders can be as critical as accurately assessing damages and negotiating with insurers. When serious property damage occurs, stakeholders need reassurance that the Board comprises capable, rational individuals who have engaged the right professionals and are proactively managing the situation.
At Eastern Public, we specialize in navigating the complexities of these claims and the recovery process. We provide our clients with the tools, knowledge, and expert guidance necessary to overcome challenges and achieve the best possible outcomes. Whether working with boards, associations, or unit owners, our goal is to minimize disputes, expedite resolutions, and ensure our clients are made whole as quickly and fairly as possible.
Learn More
- Visit our Directory of Resources for more on dealing with condo or co-op damage.
- Contact Us
now for a consultation and let us help you recover quickly and efficiently.
Case Studies
Explore real-life examples of how Eastern Public has successfully helped property owners manage water damage claims and recover their losses.
Identifying the Cause of Loss
Our comprehensive forensic investigation in this Hamptons home determined the cause of water damage--correcting the carrier's assessment.
Assessing Luxury Home Damage
We understand the work, time and materials involved in fully restoring high-end finishes and fixtures.
Accounting for Shared Costs
We help HOAs, property managers, co-op and condo owners, directing claims and the complex communications required to restore a property.
Establishing the Value of Historic Finishes
We have unique experience with specialty property valuations and high-end construction.
Catastrophic Restaurant Fire Recovery
We manage business interruption and property loss claims for restaurants and other businesses in Manhattan and beyond.
Warehouse Damage Investigation
Our independent investigation into the cause of loss of this warehouse roofing damage altered the course of the claim greatly improving the client's outcome.
Opportunity Cost of Physical Damage
Mixed-Use Manhattan Property Claim
Eastern Public managed the recovery of a Soho commercial and residential space that sustained water damage affecting all six floors of the property.
Impacts of Rooftop Pool Defect
We help property managers handle claims, and tenant relationships, through unexpected disaster.
Countering an Inadequate Offer
We handle inventory loss, property damage, and business interruption for small and large commercial organizations.
Luxury Policy Claim Negotiation
The owner of this luxury condo thought he had the best policy, but ended up headed toward arbitration. Eastern Public stepped in to correct course.
Strategic Direction to Recover Arbitration
We work with HOAs, boards, and property managers, tailoring our approach to pursue our clients' most productive course of action on a claim.
Correcting the Cause of Water Damage
Our independent investigation into the cause of loss reversed the carrier's decision, resulting in full restoration of a world-class property.
