Castle Rock Insurance Agency

Coop - Condo Insurance Negligence Question

When Negligence Is Suspected


I am a shareholder in a co-op. Last year, my radiator sprang a leak, causing damage to my neighbor below. The board fixed the radiator, and I was not asked to pay for the repair. Now, however, I am being asked to pay for damages to my downstairs neighbor. Am I responsible?

Jewelry Insurance Concerns

Homeowner insurance carriers often have restrictions and capacity limitations for jewelry.

Many carriers are not willing to write higher-value jewelry. It can be difficult to find a policy that adequately covers jewelry and also offers the client a competitive price. A stand-alone jewelry policy (personal articles floater—PAF) addresses the jewelry need without impacting the homeowners policy.

Online New York State Defensive Driving Course

Online New York State Defensive Driving Course NY

The 6 Hour New York State Defensive Driving Course is now available Online.

Online New York Defensive Driving Course

Employee or Independent Contractor?

Employee or Independent Contractor?

Most employers in our industry, whether the management company or the homeowners association directly, believe that substantial costs can be saved by their associations utilizing independent contractors in lieu of employees.

By hiring independent contractors the employer attempts to avoid costs related to:

  • Salaries

  • Benefits

  • Payroll and unemployment taxes

  • Labor law disputes

  • Wage and hour claims

  • Overtime

  • Workers compensation coverage

  • Responsibility for most worker negligence occurrences

The employer also avoids having to supply office space, overhead, and equipment/supplies normally associated with an employer/employee relationship. Furthermore, if the employer becomes unhappy with the worker's performance, it can easily change to another independent contractor without having to experience the trauma associated with terminating an employee.

6 Largest Products Liability Insurance Suits

Products Liability Insurance Quote

Products Liability Claims

Manufacturing, distributing, marketing and reselling products can often seem like a harmless venture until there is a Product Liability Suit.

However, from time to time, and lately more frequently, issues arise that cause damages, injury and even death. When they do lawsuits ensue. When several people get involved in the lawsuit, class action lawsuits ensue which have the potential to be catastrophic, often costing manufacturers or their insurance companies millions or even billions of dollars.The following are major instances of Product Liability Claims, and they include recalls. Ironically recalls are often excluded from Product Liability Insurance Policies. Aside from severe cases, product Liability Suits can strike small jewelry designers, toy manufactures, clothing designers & manufacturers and to this day the thundering repercussions of paint manufacturing companies that used lead still echo through real estate owners looking for insurance. The following are the 6 of the largest Product Liability Suits, in order of smallest to largest by claim value adjusted for 2008 inflationary factors.

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Tuesday, December 01, 2015
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