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CRIME PROTECTION PLUS CONDOMINIUM ASSOCIATION SUPPLEMENT (Philadelphia Insurance Companies)

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CRIME PROTECTION PLUS
CONDOMINIUM ASSOCIATION SUPPLEMENT
This is a supplement to the Philadelphia Insurance Companies Crime Protection Plus Application
Name of Applicant:
1.
How many association unit owners are there?
2.
How many board members do you have?
3.
What is your current annual operating budget? $
4.
If you manage your own financial affairs, please answer the following:
a.
Do you have employees who have fund-handling responsibilities?
Yes
No
b.
What is their check issuing authority: $
c.
Is your board responsible for the collection and distribution of association funds?
Yes
No
d.
Does the board approve all expenditures?
Yes
No
If no, over what amount? $
5.
Are the Association funds maintained in a bank account or are they invested?
6.
Who maintains control over either bank or investment accounts?
7.
How often are bank or investment accounts reconciled?
8.
Do you use the services of a real estate property manager?
Yes
No
If yes, please answer the following questions:
a.
Does your real estate property manager carry fidelity coverage?
Yes
No
b.
Does this real estate property manager handle all of your financial affairs?
Yes
No
If no, what are the exceptions?
c.
Are all unit assessment payments made by check?
Yes
No
If no, what are the exceptions?
d.
Are checks made payable to the association or to the management company?
Are payments sent to the:
Management Company
Bank Lock Box
e.
How often does the real estate management company furnish the board with an accounting of
receipts and expenditures?
f.
Is the board required to give prior approval for expenditures in excess of a specific amount?
Yes
No
If yes, over what amount? $
g.
Is the real estate management company required to obtain and furnish the board with copies
of competitive bids for products and services?
Yes
No
h.
Are bank statements sent to the management company or the board?
Yes
No
i.
Are bank statements reconciled monthly?
Yes
No
Crime Protection Plus
Condominium Association Supplement
Page 1 of 2
© 2017 Philadelphia Consolidated Holding Corp.
08/2017
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The undersigned declares that to the best of his or her knowledge and belief that the statements set forth herein are true.
The Company is hereby authorized to make any investigation and inquiry in connection with this application that it deems
necessary.
The supplement must be signed by the Risk Manager or other person responsible for purchasing insurance.
Name (Please Print/Type)
Title (must be signed by an Owner, Officer or Partner)
_______________________________________________
Signature
Date
The above signed warrants that he/she is authorized and has the power to complete and execute this Application,
including the Warranty Statement on behalf of the Applicant and their respective Directors, Officers or other Insured
Persons
SECTION TO BE COMPLETED BY THE PRODUCER/BROKER/AGENT
Producer
Agency
(If this is a Florida Risk, Producer means Licensed Florida Agent)
Producer License Number
(If this is a Florida Risk, Producer means Licensed Florida Agent)
Address (Street, City, State, Zip)
Crime Protection Plus
Condominium Association Supplement
Page 2 of 2
© 2017 Philadelphia Consolidated Holding Corp.
08/2017
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CRIME PROTECTION PLUS CONDOMINIUM ASSOCIATION SUPPLEMENT (Philadelphia Insurance Companies)

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Completed 29 July 2020

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