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3 top things that should be on a Management Firm's insurance department list
- Maintain a Claim Log! Claims should be logged the day the claim was opened and progress carefully tracked to make sure that the claim is closed.
- Know your community. Having an accurate property profile and loss history will make it easy for your insurance department to make a profit.
- Additional Insured. When ever possible, have all contractors, service providers, and any other third party name the management firm as an additional insured. Also, the management firm should be named insured on their client's policies.
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The California Association of Community Managers, Inc. (CACM) is a statewide professional organization created by managers, for managers. CACM provides state specific certification for the community association management industry, and has established a Code of Ethics and Standards of Practice to guide its members in their business. The organization also delivers educational programs for both individual managers and firms, in order to promote and maintain professionalism within the community association management industry. |