Adding PM company to my insurance policy?

[Eric H.]

Found this in the insurance section of my PM agreement: 8.2. All of the policies shall name agent and owner as co-insureds as their respective interests may appear. Owner shall deliver certificates evidencing such insurance coverage to agent at execution of this management agreement. Owner shall cooperate with agent and any insurer in the making and delivery of all reports, notices, and other items required in connection with any of the insurance policies. Is this a common thing for property management companies to be listed on my insurance?