FAQ Frequently Asked Questions

By Josh Roberts on Nov 9, 2018 in FAQ Frequently Asked Questions, FAQ Home | 0 comments

I have provided a Certificate of Insurance from my agent, why do I need to go through a verification process? The standard Certificate of Liability Insurance is simply a verification of coverages; without additional reference and contractual solidification a certificate CAN NOT provide coverages to the Certificate Holder or Named Additionally Insured. In the area titled “Coverages” on the Acord 25 Certificate of Liability Insurance the following statement appears: THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS. EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. Simply put, without proper wording on the certificate, proper written agreements between the parties you are doing business with and proper endorsements attached. The coverages on the certificate can be worthless to you and the additional insured parties. This will cost you money and the clients you work for money, in the event of a claim. How long should the Certificate of Insurance verification process take to complete? Most certificates are verified and compliance status is updated within 72 hours. On rare occasions a vetting process could take longer depending on your company’s risk category, your agent’s understanding of coverages necessary and policy limits. If I find that I am Non-Compliant what steps should I take to become Compliant? Simple Non-Compliance for policy renewals or coverage limits can usually be resolved by contacting your agent and having them send updated certificates. Complex Non-Compliance for coverages and contractual issues may require a new policy or additions to an existing policy. If this type of Non-Compliance issue arises, we will have a Compliance Coordinator work with you and your agent to find a solution. If a solution cannot be forged, then we will consider recommending alternate sources for insurance coverage. If no solution is available and your company can no longer perform services for the management company, you registered with, you will be considered for...

By Josh Roberts on Oct 16, 2018 in FAQ Frequently Asked Questions | 0 comments

FAQ - Personal Auto Insurance May Not  Cover Business Us Most personal car insurance policies do not cover business driving. The most common reasons include: Risk of Business Use verses Personal Use – Since you spend more time driving for your business, you have a greater likelihood of accidents and vehicle damage. Personal Auto Policies Terms & Coverages - Your contract with your insurance provider extends to your personal vehicle for private use and your policy was priced and billed accordingly. Using a personal vehicle for your business adds risk – risk that your insurance company didn’t agree to when they endorsed your policy. It is not uncommon for insurance companies to deny a claim if the accident occurred while using the vehicle for business. If you frequently use your personal vehicle for your business, you may want to consider purchasing a separate business auto policy. How Do I Know if I Need Business Auto Insurance? Association Management Companies require Business Auto Insurance. On rare occasions, an exception might be allowed depending on the type of business and individual situation. To be considered for this exception, you will need to have business use coverage on your personal auto policy. The best way to determine if you qualify for an exception is to request a Letter of Non-Exclusion for Business Use from your Automobile Agent.  By informing your insurance agent that you use your car for business, they can verify or add a designation to your policy to cover this type of driving. What Kind of Business Auto Insurance Do I Need? If you often drive your own vehicle or allow employees to travel between work sites, to transport people or products, or to make sales, your agent will most like suggest Commercial Auto Insurance or Hired and Non-Owned Auto Insurance. 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 drive both personal and business use. What information does my Agent Need to Provide? Please include a policy endorsement to show Business Auto Coverage. If there is no endorsement on the policy, then please supply a letter on Agency Letterhead stating there...

By Josh Roberts 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...

By Josh Roberts 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.      ...

By Josh Roberts 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.  ...

By Josh Roberts 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...