Come visit us as we exhibit at the Institute of Real Estate Management’s third annual Asset and Property Management Symposium on Wednesday, March 10th, 2010 from 9:30am-5:30pm. 

The program will be located at the New York Helmsley Hotel:
212 East 42nd Street
New York, NY 10017
Third Floor Conference Center

 Click Here For Registration Information

We are pleased to announce that the National Flood Insurance Program has been extended to March 28, 2010.   The bill that was passed by Congress and signed by President Obama does not include retroactivity to March 1, 2010. 

This short term statutory authorization will allow us to resume issuing flood insurance policies but it did not include specific language that would make the extension retroactive to March 1, 2010 at 12:01 am.

We will include more updates on longer term NFIP reauthorization prior to the expiration on March 28, 2010 as soon possible.

Don’t hesitate to call our offices if you have any questions at (866) Mackoul.
Thank you.

Mackoul & Associates, Inc.

Read the full article here: http://www.insurancejournal.com/news/national/2010/03/03/107849.htm

Statutory authority to issue flood insurance policies pursuant to the National Flood Insurance Program (NFIP) expired on February 28th, 2010.  According to Senate Majority Leader, Harry Reid, measures are expected to pass sometime this week extending the NFIP until March 28, 2010.  However, Congress has yet to pass the short term reauthorization of the NFIP and President Obama has yet to sign the bill.

Main Point- The NFIP will not be able to issue new or renewal flood policies, change coverage or pay claims until Congress reapproves reauthorization.  They recommend that companies writing flood insurance hold any premiums, renewals or added coverage endorsements received on or after Feb. 28th.

Read Full Article
National Flood Insurance Program Website
FEMA Website

A damaging winter storm, nicknamed “February Fury,”  has been forecasted to hit the northeastern region of the United States by weather.com.  The rain has already started and is forecasted to turn to snow by 6pm on Thursday, February 25th. 

For the most recent weather updates, visit www.weather.com
Latest News and Developments: http://www.weather.com/newscenter/topstories/newsdevelopment0224.html
“February Fury Doubles Up On The Northeast”: http://www.weather.com/newscenter/stormwatch/
Travel Impacts: Airports and Interstates
http://www.weather.com/outlook/weather-news/news/articles/feb-snow-travel-impacts-NE_2010-02-24

Have you ever evaluated your building for environmental exposures that may lead to large claims filed in the future?  Did you know that most traditional policies provide little or no coverage for claims caused by pollutants such as mold, asbestos, lead paint or oil leaks?

Our V.P. of Sales and Marketing, Patricia M. Batih, recently had her article highlighted in the January Newsletter for the Federation of New York Housing: Coops and Condominiums (FNYHC).  In her article, Environmental Insurance: “The Forgotten Policy,” Patricia M. Batih, recommends that program managers, boards and property owners, consult with their insurance advisor to ensure that they are adequately covered if a large environmental claim is filed against their property.

Read the full article by clicking here: http://www.mackoul.com/page.asp?pageID=12

Proactive Steps For Your Building
Courtesy of the Building Owners and Managers Association International

With anticipation by public health agencies that cases of the H1N1 virus, commonly known as the Swine Flu, will be on the rise this fall, property managers are urged to have in place emergency protocol should your building be attacked by H1N1:

Here are a few tips to help prepare your building:

• Review Your Plan: Regularly go over your building’s emergency preparedness plan with your team. Ensure that everyone is familiar with all aspects of emergency protocol.  Include a communication chain which will effectively reach tenants and local authoritites when an emergency occurs.
• Practice Makes Perfect: Have your team walk through various emergency procedures.  Meet with tenant representatives and discuss potential issues of which they should be aware.
• Cross Train Staff: First, identify potential areas where cutbacks in operations can occur and still maintain operations.  Then identify properly trained individuals who know your sites and can fill positions.  Provide cross training for essential personnel to provide critical services.
• “Key Crisis Vendors”: Meet and discuss each group’s individual plans.
  (Key Crisis Vendors are those that are needed to support ongoing operations of the properties- janitorial, security, fire alarm maintenance, etc.)

For more emergency protocol steps, visit our website by clicking the following link:
http://www.mackoul.com/page.asp?pageID=12

Patricia M. Batih will be presenting this Homeowners Insurance Seminar on behalf of Mackoul & Associates, Inc. at the CNYC Expo on November 15th from 2:30-4:30 p.m.

Mrs. Batih brings over 20 years of experience in Property & Casualty insurance to Mackoul & Associates, Inc.  She is also an active member of several professional organizations, including the New York Association of Real Estate Managers (NYARM).  She also represents Mackoul & Associates as an industry partner for the Institute of Real Estate Management (IREM).

 Homeowners Insurance protects against loss and costly repairs and also helps soothe conflict between neighbors when leaks or other accidents occur.  Insurance specialist Patricia M. Batih will describe various coverages appropriate to New York cooperatives and condominiums and will suggest guidelines for the Board if it should opt to impose mandatory homeowners insurance.

Register here:  http://www.cnyc.com/

Trick-or-Treat Tips-

1. Children should be accompanied by an adult.  Children not accompanied by an adult should travel in groups in well known areas.
2. Teach your kids to dial 9-1-1 if they have an emergency.
3. Teach your kids to NEVER enter a car or home of someone they do not know and not to accept candy from strangers.
4. Have your children wear white, reflective clothing, use reflective tape, or carry a flashlight or glow stick.
5. Check your childs candy when they return home, you might even want to taste test some for “safety purposes.”  Discard any candies that are not factory sealed.

For many more safety tips, click the following link: http://www.mackoul.com/page.asp?pageID=12 

Managing Costs and Risks in Challenging and Uncertain Times II:
A Focus on Energy Issues Including Tax Implications, Budgeting, Insurance and Legal Considerations

Thursday, October 22nd – 6:00-8:00 PM
The Roosevelt Hotel – Vanderbilt Suite (Madison at 45th)
New York, NY 10017

Our own Edward J. Mackoul will be part of a panel of experts who will help provide insight on tax implications, budgeting, insurance and legal consideration during a seminar focusing on energy issues.  Seminar speakers will be Ed Morse of Hess Corporation and Jim Dwyer, a Board President with a specialty in solar panels.

There is no charge for the seminar, but a reservation is required.  Refreshments will be served.

Please R.S.V.P. by October 9th, 2009 by sending an email to Jennifer Maffeo at jmaffeo@mackoul.com.  You must include your name and contact information to register.

For Directions to The Roosevelt Hotel:
http://theroosevelthotel-px.trvlclick.com/About/Directions/

If you maintain a Systems Breakdown, a.k.a. Boiler & Machinery policy, then generally your insurance company will perform the boiler inspection and file the necessary paperwork, but…

REMEMBER- The insured is ultimately responsible for making sure the inspection is performed and paperwork filed. 

Avoid unnecessary penalties, Book your inspection NOW!

For more information: http://www.mackoul.com/page.asp?pageID=12