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Why Insurance Rates for New York Property Owners Are Soaring from THE CITY - All RSS feed.

Why Insurance Rates for New York Property Owners Are Soaring

Residential buildings lined a block in Astoria.

Logan Browne thought he already experienced sticker shock from his Bushwick condo building’s insurance rate tripling last year.  Then, this summer, the insurance company dropped the building, citing a “loss ratio” that Browne, the condo board president, said related to water damage claims in 2020 and 2023 after heavy rainfall flooded the basement. Browne’s management […]

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