Use dotted terms for definitions. You can also browse the glossary.
Before you decide
- Owner and manager interests must be identified separately.
- Professional-service allegations need their own review.
- Screening and insurance are distinct decisions.
Describe the services
List leasing, inspections, repairs, vendor selection, collections, accounting and work for third-party owners. Identify the entity performing each activity and whether employees or subcontractors do the work. A company managing its own rentals has a different service scope from a manager serving clients.
NAIC distinguishes general liability from professional and employment exposures. FTC cyber guidance and Travelers crime materials address other categories. Use the distinctions to prepare a review, not to assume any single package includes all of them.
Use a management exposure map
| Activity | Insurance inquiry |
|---|---|
| Premises operation | Owner and manager insured status and accepted locations |
| Professional service | Errors/omissions, allegations and reporting basis |
| Employees | Workers compensation and employment practices |
| Client funds | Crime definitions, covered property and controls |
| Tenant records | Cyber, vendors and incident-response duties |
| Business vehicles | Owned, hired and non-owned use |
Tenant screening and insurance
A screening process does not prove that an insurer gives a discount, accepts a tenancy or covers nonpayment. Verify applicable screening, accommodation and privacy rules through qualified current advice. Use appropriate private channels for applicant information.
If a lease includes insurance requirements, confirm their legality and define how evidence is tracked. Do not treat an additional-interest entry as equivalent to an additional-insured endorsement.
Worked scenario: a vendor payment change
A manager receives emailed bank instructions for a familiar vendor. Follow an independently verified callback procedure and internal authorization controls. Ask separately how any proposed crime or cyber form treats authorized-but-fraudulent transfer instructions; do not assume a computer-fraud label resolves it.
Retain the management agreement, relevant endorsements and a responsibility register. Review when services, client count, staffing or funds-handling procedures change.
Sources & scope
- NAIC: Small business insurance
General property, liability and package-policy definitions. Product eligibility and exclusions require the actual form.
- Federal Trade Commission: Cyber insurance
First-party and third-party cyber questions; a checklist is not proof that a quoted policy includes each item.
- Travelers: Fidelity and crime insurance
Examples of distinct insuring agreements for dishonesty and fraud. Definitions and reporting triggers vary.
Sources checked October 24, 2026. General descriptions do not replace the policy, endorsements, declarations or an insurer’s coverage determination. Examples are hypothetical unless explicitly identified otherwise.
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