insurance: Risk Management Class: NARPM Convention: Property Managers Beware!
- 03/25/11 02:22 PM
Property Managers have enormous exposure to liability suits. This was pointed out ever so clearly by Vicki Gaskill, former President of the National Association of Residential Property Managers (http//:www:NARPM.com). The stories managers tell make your hair stand on end. So, for every challenge there is a solution. Call your Insurance Broker and ask questions about your coverage. Do you have enough, what is left out? We are advised to have a minimum of 2 mil in liability, and ask owners of the property you manage to put you on as "Additional Insured". It doesn't cost them anything. But some carriers just … (4 comments)
Property Managers have enormous exposure to liability suits. This was pointed out ever so clearly by Vicki Gaskill, former President of the National Association of Residential Property Managers (http//:www:NARPM.com). The stories managers tell make your hair stand on end. So, for every challenge there is a solution. Call your Insurance Broker and ask questions about your coverage. Do you have enough, what is left out? We are advised to have a minimum of 2 mil in liability, and ask owners of the property you manage to put you on as "Additional Insured". It doesn't cost them anything. But some carriers just … (4 comments)
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