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Building Better Communities by Elevating Service Providers

Posts by Josh

FAQ | Vendor Information Form

By on Dec 9, 2017 in FAQ Frequently Asked Questions | 0 comments

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 association. Why is it so important that we complete a Vendor Information Form? A Vendor Information Form aids in the ability to satisfy a compliant status. Association Services Network (ASN) uses the details in the Vendor Information Form to determine the need for Worker’s Compensation & Auto Insurance. It also provides important tax information that is shared with the management companies. The details about your company operation become a database for resources for managers so that they can have access to your company profile 24/7. Insurance Agent information is a must to request & expediently process renewal certificates. Is it possible to be Compliant without a Vendor Information Form? No. Due to the data contained in a Vendor Information Form and the links to the system, we cannot make your company compliant without a completed Vendor Information...

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FAQ | Not Currently Working Why Do I Need Certificates of Insurance?

By on Dec 9, 2017 in FAQ Frequently Asked Questions | 0 comments

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, Compliant and Non-Compliant. This status is available to all of their Association Managers. Management Companies are utilizing this “Searchable” Vendor Directory first for their new projects. If you are on a Management Company Vendor Directory as “Compliant” this is the best status you can hold. A Compliant Status tells managers that you are ready and have all the proper documentation to present your company to their boards and to begin work. If you are on the directory as Non-Compliant, you may miss an opportunity to bid work or be selected by an Association Manager. Will my Insurance Company Issue a Blanket Certificate to cover work on all HOA Properties managed by a Specific Management Company? Yes, most insurance companies will issue a blanket certificate that meets with the Management Company requirements, even if you are not currently doing work. There are some cases where an insurance company only issues job specific certificates. If you are in that situation, then you will not be able to provide a blanket certificate. Please let us know if this is the case and we can try to assistant you with a solution.      ...

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FAQ | Which is Better a Blanket or Individual Certificate?

By on Dec 9, 2017 in FAQ Frequently Asked Questions | 0 comments

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 Homeowner Association need individual certificates? No. The purpose of a blanket certificate is to consolidate the number of individual certificates needed. The Association is covered with the blanket certificate. What if my insurance company doesn’t provide blanket certificates? Only about 5% of insurance carriers fail to issue blanket certificates. If your insurance carrier is one of these companies, contact us and we will help you on a case by case basis with your compliance. What if the Association Board is requiring an individual certificate? Most boards will not require an individual certificate because of the burden of additional tracking, liability and expense. What if I only work for ONE (1) Association, do I still need a blanket certificate? Yes. Blanket Certificates ensure that you are “work” ready for any Association your Management Company would like to hire you for. It eliminates the need to repeat the process of obtaining certificates with each and every new job or bid. It ensures that Association Boards can be confident that you are covered to work on their properties before they even ask for a bid.  ...

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FAQ | Worker's Compensation Waiver of Subrogation

By on Dec 9, 2017 in FAQ Frequently Asked Questions | 0 comments

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 allowable under circumstances where the insured (your company – aka “the vendor”) could be held liable for a claim that is paid. What does subrogate mean? To place blame on someone else. What does waiving subrogation mean? To not be able to place blame on someone else. Why is there a charge for a Waiver of Subrogation? Premium charges for Waivers of Subrogation are standard in the insurance industry. The right of subrogation is the process where an insurance company, after paying a claim to its insured, can recover that payment from any party who caused the loss or is legally liable for the loss. When a policyholder (your company aka “The Vendor”) elects to waive the right of subrogation as a part of their insurance coverage, your insurance company is then limited or prohibited altogether from recovering the money it has paid on a claim – even though the loss was caused by a negligent third party. So, charging for the Waiver of Subrogation helps offset the cost of the money paid on a claim that otherwise your insurance company would try to recover from a negligent third party. Why do I need a Waiver of Subrogation? There isn't another area in which subrogation and waivers of subrogation play a more important role than in Workers' Compensation Insurance. Since workers' compensation coverage is mandatory in most states, the opportunities for subrogation in connection with a huge number of claims exists. Moreover, because employers and their workers' compensation carriers are strictly liable for statutory benefits to their employees, benefits are paid in connection with every legitimate occupational injury, where the injury is of a large enough magnitude, the level of benefits increases and, under all states' laws, a carrier which has paid out statutory benefits is subrogated to the rights of the employee against a third party which may have caused or contributed to...

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FAQ | What is a Condo Endorsement and Why Are You Asking For It?

By on Dec 9, 2017 in FAQ Frequently Asked Questions | 0 comments

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 might have a Condo Endorsement that allows you to perform on existing structures but not new condominium structures. Another example would be if you are an Electrician, your policy might have a Condo Endorsement that allows you to do electrical for existing condominium structures but excludes stucco work. As a Vendor, why do I need to provide a Condo Endorsement when the association I am working for is a detached residential property or PUD? Management companies have multiple properties which usually include condominiums projects. The Vendor Directory and Compliance Records are set up to allow maximum exposure to Vendors who are able to complete work and have insurance for all managed properties. What if my insurance company doesn’t have an exclusion or limit for work on Condos? We will accept a Letter of Non-Exclusion from your insurance agent provided on their agent letterhead or via their agent email. What is a Letter of Non-Exclusion? The letter of non-exclusion states that your policy does not have any limits or exclusions and that you are cleared to work on condominium projects. What information does my Agent Need to Provide? Please include a policy endorsement to show coverage for work on Condos or Multi Unit complexes. If there is no endorsement on the policy, you will need to supply a letter on Broker Letterhead stating there are NO Exclusions in the General Liability Policy for work on Condos or Multi Family...

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