Our President, Edward Mackoul, was recently quoted in Habitat Magazine in an article titled “Should Co-op Boards Prohibit Shareholders Having Guns? The Issues. In this article, Habitat examines the risks and challenges faced by board members in regards to the hot topic of gun possession in buildings.
Edward Mackoul is quoted in regards to what insurance coverage should be maintained:
Whatever path your co-op board takes, you always should maintain appropriate insurance. Most general liability policies provide coverage for a suit in which the co-op is named because of an injury from a gun-related accident or shooting in the building, but some companies do have a firearms exclusion, as well as an assault and battery exclusion. Either could conceivably exclude coverage for gun-related incidents, so insurance policies should be reviewed carefully.
Read the full article on Habitat’s website here.
If you have any questions in regards to the best insurance coverage for your building, give us a call at (516) 431-9100 and speak to one of our experienced insurance specialists.