Tag: Commercial Property Insurance

Heed the Warnings: Surfside Condo and Pittsburgh Bridge

On June 24, 2021, at approximately 1:22 a.m., a 12-story beachfront condominium in the Miami suburb of Surfside, Florida, partially collapsed, killing 98 people and injuring 11. The main contributing factor was identified as long-term degradation of concrete structural support in the ground-level parking garage

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The Reschini Blog: Know What Your Equipment Is Worth

“Catastrophe” in the property insurance industry denotes a severe natural or man-made disaster that is unusually severe.  In the insurance industry, an event is designated a catastrophe when claims reach at least $25 million. But an event doesn’t have to

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Nobody’s Home: Protection Using a Vacancy Clause

There are times when the phrase “The lights are on, but nobody’s home” can actually be pretty smart advice.  Vacant buildings are more prone to arson, theft of copper plumbing, vandals and water damage.  Vacant property, often an attractive nuisance,

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