Start with the operating relationship
A sale, new management contract, affiliated entity, or changed ownership structure can alter the account before the physical building changes. Draw a short map: who owns the asset, who signs the management agreement, who employs staff, who handles funds, and who contracts with vendors. Use legal names, not only property names.
Collect documents that establish roles
Gather entity records used for the account, management agreements, leases, loan or lender requirements, vendor scopes, and current policy schedules. Flag provisions that allocate responsibility or request insurance. The purpose is to identify a question for the policy review, not to assume a contract creates coverage.
Compare the policy architecture
Review named insureds, additional insureds where relevant, scheduled locations, professional-services wording, client-funds provisions, contractual-liability restrictions, and exclusions. A property policy and a manager’s professional liability policy can address different interests; neither should be treated as a substitute for reading the other.
Retain a current entity map
Keep the map with issued declarations, endorsements, and the underlying contracts. Refresh it when entities, responsibilities, or agreements change. Policy wording, declarations, and endorsements control.
- Legal entity names
- Asset ownership and management duties
- Funds and vendor-payment responsibility
- Contracts and policy schedules