Residential condo associations pose outsized risks that deter many insurers
Amid rising property losses and aging infrastructure, residential condo associations have become one of the most complex – and often misunderstood – segments in commercial insurance. Brian Cohen (pictured), CEO of Arden Insurance Services, says many carriers simply don’t want the exposure.
“The residential condo association market is unique, and it has been unique for a very long time,” Cohen said. These multifamily structures rely on legal entities to manage common property, making every policy a hybrid of personal, commercial, and community risk. For most…