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Updated about 6 years ago, 12/12/2018

User Stats

134
Posts
15
Votes
Peter Sik
  • Los Angeles, CA
15
Votes |
134
Posts

Is it common to add PM in insurance?

Peter Sik
  • Los Angeles, CA
Posted

After 9 months of using this PM, PM is asking me to add them as additional insured. Is this common?

"We are currently auditing and updating our records to insure we have copies of all insurance policies for the properties we manage. Our Property Management Agreement states in Section 4.E. the owner shall:

Carry and pay for: (i)public and premises liability insurance in an amount of no less than $1,000,000.00; and (ii) property damage and worker's compensation insurance adequate to protect the interest of Owner and Property Manager. Property Manager shall be, and Owner authorizes Property Manger to be, named as an additional insured party on Owner's policies."

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