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  Services - Insurance Administration & Risk Management

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 insurance.

Following is a list of insurance administration services provided by JBC Property Management:

  • 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 Association's property.

  • Coordinate and administer insurance claims on behalf of the Association.

  • 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 competitive bids.

  • 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.




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