SMART PRO Property Managers E&O Program
Smart Pro is a unique offering of essential coverage for the professional liability exposures of property managers
The Smart Pro Property Managers E&O program is a comprehensive approach to professional liability for property managers through exclusive endorsements with the industry’s most respected carrier.
- Owned & Managed Properties – Coverage provided for many owned and managed scenarios.
- Failure To Place/Failure to Maintain Insurance – No Exclusion.
- Personal Injury – Coverage is provided.
- Subsidiaries – Newly Acquired Subsidiaries are automatically included as insured when revenues are 15% or less of Insured’s annual revenues.
- Full Severability – Is provided with respect to fraud so that knowledge by one insured person cannot be imputed to another insured person, thereby preserving coverage for those who are innocent.
- Allegations of Fair Housing Discrimination Violations Legal Defense Legal Defense - is provided.
- Allocation – 100% Defense Costs for claims alleging both covered and uncovered matters.
- Punitive and Exemplary Damages – Coverage is provided (where insurable).
- Consent to Settle Clause – Company will still be responsible for seventy percent (70%) of any covered amounts in excess of the proposed settlement.
- Domestic Partners as Insured – Included in definition of insured.
- 60 Day Extended Reporting Period from Expiration of Policy
- Duty to Defend – Anywhere in the world.
- Non-Cancellable – Except for Non-payment of premium.
- Internet – Coverage is provided for Insured Services including those that are performed electronically utilizing the Internet.
- Bodily Injury/Property Damage – Exclusion does not apply to contingent BI/PD.
The program is admitted in all states except Alaska, Arkansas, Louisiana, Vermont and Wyoming and is underwritten by an A++ AM Best-rated carrier.
New submissions can be sent to firstname.lastname@example.org
Submissions should include:
- SmartPro Property Managers E&O Application
- Loss History (General Liability and E&O)
- Details on any Claims
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Coverage is offered to members of The American Association of Real Estate Owners RPG, Inc. What Are Risk Purchasing Groups?
Complete copies of all policies are available to insureds and their brokers for review and should be referred to for complete coverage information. Nothing contained here changes or amends any of the above mentioned policies.