Acting for an owner
Property managers
Property managers need their insurance brief to describe the services they perform for others. An owner’s building policy does not settle every question about the manager’s professional work or handling of funds.
What the review should address
- Services delegated to you and work you subcontract
- Indemnity and insurance provisions in each agreement
- The entity handling rent, deposits, and supplier payments
- Changes in portfolio composition or management responsibilities
Where the wording matters
Certificates help document insurance but do not amend its terms. Where an agreement requires a particular party or activity to be covered, examine the policy and relevant endorsement.
Have these facts ready
- A current list of managed locations
- A representative management agreement
- A description of client-fund controls
Prepare for a discussion
Choose a discussion time
Spot and its brokerage partners perform insurance procurement for Van Ness Partners. This site does not itself transact insurance.