March Power Hour - Property Insurance: An Overlooked Option for Funding Significant Repairs to Older Buildings
Presented by Daniel Stein, Stein, Sudweeks & Stein

One of the challenges of managing older commercial buildings is that they may need major repairs or renovations beyond the owner’s reserves. Faced with the prospect of major building envelope repairs, including extensive repairs to exterior walls, owners and managers frequently overlook the possibility of recovering funds from the insurance policies that they have been buying for years. This lunch and learn will make attendees aware of how older insurance policies may help cover the cost of these renovations; the insurance claim process; of recent cases that have recognized that recover is possible against older policies that expired many years ago; and why owners purchasing a building should ask for an assignment of insurance from the seller at time of purchase.

Takeaways:

1. Many older buildings have insurance coverage for hidden damage caused by water intrusion.

2. How insurance coverage can help mitigate the cost of repairs in certain circumstances, supported by recent cases.

Lunch will be provided.

Who Should Attend?
Property Managers
Engineers
Emerging Professionals