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Certificates of InsuranceAug 01, 2007


We require all shareholders to provide Certificates of Insurance evidencing Personal Liability coverage.
Does anyone have a "system" to follow up the shareholder for the Certificate as well as getting renewals?

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Re: Certificates of Insurance - AR Aug 01, 2007


The managing agent should keep an excel spreadsheet with the information inputted. Then once a month he/she just looks at it and follows up on any required requisitions.
At least that’s what I do, it seems to be the easiest way.

~AR

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COI (to Gerry) - Fat Nickie Aug 01, 2007


What I find that really works is keeping the shareholders well informed when it comes to building requirements. Most contractors, are aware that they need to submit paperwork before they begin work. It is just a matter of staying on top of things. The following are some pointers which I hope help.

1. Post a notice by your service entrance reminding contractors etc, that they must provide certification in order to work on your premises.

2. Include your requirements in your general rules for contractors. (so paperwork is submitted before work begins)

3. Prepare a master copy, so you can fax it to the carrier to make it easier fill out.

Hope the above helped FN.

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Re: COI (to Gerry) - AR Aug 01, 2007


I believe the question waas in regard to personal/homeowners insurance... Am I mistaken?

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Copy of ins statement - Steve Aug 01, 2007


I'm assuming the Q refers to homeowners' insurance too.

Our co-op requires shareholders to provide a copy of their homeowners' statement every year to the managing agent.

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Certificates of Insurance - Gerry Benson Aug 02, 2007


Again, I was asking if anyone had a "program" for the follow-ups.
It sounds as if most leave the matter to their managing agents which we were doing.
I undertook handling it for our building because the documents being submitted by the Shareholders were not, for the most part, "Certificates of Insurance". Being an insurance broker, I'm trying to make sure that the coop gets the proper document.
The difficulty is following up those who don't submit or submit incorrectly.

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Cert of Ins vs Statement - Steve Aug 02, 2007


Gerry,

Do you mean that the insurance company's statement, with the types of coverage listed, isn't enough?

If we require a certificate of insurance, does the insurance agent typically charge for that?


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Certificates of Insurance - Gerry Benson Aug 02, 2007


You are correct.

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Certificates of Insurance - Gerry Aug 02, 2007


We do that for contractors. I was looking for a program for Shareholders.

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