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[ About
CIDcash ]
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Members ]
[ VISA ready Vendors ] [ Fraud Control ] |
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Fidelity
Risk Concerns Are: |
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The common misconception is that a
management firm’s fidelity insurance policy covers all of its client
funds.
Such coverage is neither affordable nor available, and insurance
limits are generally inadequate.
Think about it! If a
firm manages 20 community associations whose aggregate funds total $15,000,000,
does it have enough fidelity insurance?
Aggregating insurance
limits is the solution for insuring this high fidelity exposure. |
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Using Master Fidelity, each community association receives
its own individual policy, premium charge, policy limits and deductible. |
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| These fidelity insurance limits of the
community associations are combined for a total fidelity insurance coverage,
insuring the management firm for the aggregated limit. |
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Community Association Name |
Limits |
Deductible |
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Homeowner Association #1 |
$1,250,000 |
$5,000 |
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Homeowner Association #2 |
$250,000 |
$500 |
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Homeowner Association #3 |
$100,000 |
$500 |
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Homeowner Association #4 |
$50,000 |
$500 |
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Homeowner Association #5 |
$50,000 |
$500 |
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Homeowner Association #6 |
$250,000 |
$1000 |
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Homeowner Association #7 |
$625,000 |
$1000 |
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Homeowner Association #8 |
$50,000 |
$2,500 |
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Homeowner Association
#9 |
$500,000
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$500
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Total Aggregated Insurance Limit Insuring the Management Firm
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$3,125,000
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Per Schedule
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What Aggregated
Fidelity Insurance Provides: |
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Insures community management firm owners for fidelity. |
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Aggregation develops very large fidelity limits that create client
recognition. |
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Validates to your clients that the management firm has the understanding
of properly insuring the fidelity risk. |
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Allows the management firm to earn fraud control credits |
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