Risk Management & Insurance
Advise the board on its fiduciary responsibilities and assist in the development of the association’s rules and regulations, due process and procedures; obtaining and maintaining insurance coverages.
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Inform owners of their responsibility to insure their own property.
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Advise the board on its fiduciary responsibilities.
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Advise the board in developing the association’s rules and regulations, and due process procedures.
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Advise the board in obtaining and maintaining insurance coverages (casualty, fidelity, liability, property, D&O, workers’ compensation).
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Coordinate property valuation to determine insurance needs.
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Obtain and maintain current insurance certificates (workers’ compensation, liability) from contractors and subcontractors.
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Communicate information regarding association insurance policies and limitations of coverage to owners.
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Provide information as requested by the association’s legal counsel.
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Identify areas of potential loss (property, liability, income and personnel)
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Document, submit and coordinate insurance claims.
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Coordinate inspection by risk management professional.
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Communicate with all regulatory agencies on behalf of the association.