MasterFidelity.com - Community Managers

Community associations are beginning to recognize that fidelity limits are inadequate for management firms and the community association. Most fidelity insurance policies for community associations are very limited, providing inadequate fidelity coverage. The Master Fidelity program greatly enhances fidelity protection for management firms, their community associations and vendor payables against crime exposure.

The common misconception is that a management firm’s fidelity insurance policy covers all of their 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, do they have enough fidelity insurance? Either the management firm can not afford the cost of the high insurance limits needed for fidelity coverage or they can not qualify for the high fidelity limits of insurance needed. Aggregating insurance limits is the solution for insuring this high fidelity exposure.

Fidelity Risk Concerns Should Include:

	Firms that manage a large portfolio of community associations do not have enough insurance providing protection for aggregated exposures due to the unavailability of adequate fidelity limits at affordable premiums.
	The majority of fidelity insurance policies or fidelity bonds for community associations do not insure the owners of the community management firm or its employees.
	Management firms that currently have fidelity insurance may find that these polices do not protect the total amount of funds that are under management.

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