They will end up getting partial to full reimbursed by condo master policy.
Long term this is going to be painful, everyone just looked the other way before because rusting steel encased concrete was a common issue but rarely resulted in catastrophic failures, but because of surfside buildings that probably would of been ok for another 20-30 years will end up condemned. You can build with epoxy, powder coated rebar but it’s not common. Insurance companies in condo business should just be jacking up rates way higher than current levels.
