we own a rental property in a condo bldg with about 30 units.
recently, the insurance company that insures the building notified the HOA that the railings on the balconies are non-code compliant and that insurance would be dropped later this year if the railings were not corrected. the building is old (i'm not sure of exact age, but at least 60 years). railings are horizontal with 6" spacing between members and too low (36", not 42"). current code needs vertical rails, 42" high, and 4" max clear.
does an insurance company have the ability to deny coverage for something that seems like it could be grandfathered in? i mean, knob and tube isn't code compliant anymore, nor is asbestos, or lead paint, but these exist in millions of structures that are insured across the country.