JBC Property Management is skilled in risk management, the
process of making and carrying out decisions that will minimize the unfavorable
effects of accidental losses at a community Association. We have extensive
contacts within the insurance industry to help the Board of Directors secure
appropriate coverage at a reasonable rate. In addition, JBC Property Management
is experienced in one of the most important, but least exercised skills in
Insurance Administration, determining when not to submit a claim under the
master insurance policy. JBC Property Management can assist the Board of
Directors in securing the appropriate coverage for property and liability
is a list of insurance administration services provided by JBC Property
Counsel and advise the Board concerning generally
accepted industry standards.
Assist the Board of Directors in developing an insurance
program that offers the appropriate coverage and defines the different types
of insurance and endorsements a community Association needs: Property and
Liability, Umbrella, Directors and Officers (Covering the actions of a Board
as a whole), Workers Compensation, Building Ordinance, Boiler and Machinery
(if applicable) and Flood (if applicable).
Assist, secure and monitor annual insurance policies.
Ensure that insurance coverage is at least the minimum
coverage set forth in the Declaration of Covenants.
Assist the Association and its qualified insurance agent
in placing the required insurance by providing required information.
Receive and report to the insurance agent any known
incident which may result in an insurance claim for which the Association
may have responsibility.
Report to the Association any accidents, fires, or other
claims related to the management, maintenance, and operation of the
Coordinate and administer insurance claims on behalf of
Prepare the necessary information to assist the insurance
carrier in the event of a workers compensation audit.
Provide annual review of coverage, costs and obtain
Analyze the Association's exposure to possible loss.
Explore alternative risk management techniques and
determine if appropriate.
Implement the risk management techniques decided upon by
the Board and monitor the results.