Does your business make new year’s resolutions for itself? If not, 2019 could be the year to jump into the tradition of “Annual Goals”. Sure, goals are a little more fun to create and stick to under a different name, and if you come up with good ones, they could forever change the way your company operates.
The standard Certificate of Liability Insurance is simply a verification of coverages; without additional reference and contractual solidification a certificate CAN NOT provide coverages to the Certificate Holder or Named Additionally Insured.
FAQ - Personal Auto Insurance May Not Cover Business Us Most personal car insurance policies do not cover business driving. The most common reasons include: Risk of Business Use verses Personal Use – Since you spend more time driving for your business, you have a greater likelihood of accidents and vehicle damage. Personal Auto Policies …
FAQ | Personal Auto Letter of Non-Exclusion for Business Use Read More »
Each Management Company has different requirements and each Management Company, and their Associations are vetted independently. Without proper wording on the certificate, proper written agreements between the parties you are doing business with and proper endorsements attached, the coverages on the certificate can not be verified.
What is a Vendor Information Form? A Vendor Information Form (VIF) is a snap shot of your company. The information contained in the Vendor Information Form is what management companies and their managers to use to scout service providers for their upcoming jobs. It is your best source for marketing to individual managers within an …
We do not currently have any jobs with this management company or their HOA’s. Should we still provide Vendor Information and Insurance Certificate’s? Yes. The management company that has asked you to register for compliance is using a “Searchable” Vendor Directory to select qualified vendors. This management company’s directory shows your company as New, Processing, …
FAQ | Not Currently Working Why Do I Need Certificates of Insurance? Read More »
As a Vendor, do I need to provide a separate certificate for each association that I provide services for if I have a “blanket” certificate for the management company and all their associations? No. The language on the blanket certificate will cover ‘ALL” associations that are under contract with the listed management company. Does a …
FAQ | Which is Better a Blanket or Individual Certificate? Read More »
What is a Worker's Compensation Waiver of Subrogation (WOS)? A Waiver of Subrogation is a special type endorsement on a worker's compensation policy that prohibits the insurer (aka policy issuer) from attempting to seek restitution from a third party (in this case the Property Management Company and/or the Homeowner's Association). This type of arrangement is …
FAQ | Worker's Compensation Waiver of Subrogation Read More »
FAQ – Condo Endorsement or Letter of Non-Exclusion What is a Condo Endorsement? A Condo Endorsement is a part of your policy that either excludes work on Condo or Multi-Family projects and / or limits the coverages related to this type of project. An example would be if you are a Roofing Contractor, your policy …
FAQ | What is a Condo Endorsement and Why Are You Asking For It? Read More »
Successful Vendor Compliance Is More Than Luck! Vendor Compliance Misconceptions Vendor Compliance has greatly evolved in recent years, responding to changes in case laws and liability. The increasing tide of threats exposes the lack of information, professionalism, and efficiency of the current vendor compliance methods used by Association Management Companies. Recent surveys indicate that only 8% …