Lunch & Learn - Property Managers (Learning about Risk Management & Insurance)

Why should a property manager know about insurance? Property managers should understand insurance because it directly affects how they protect property, manage risk, and fulfill legal and financial responsibilities.

### 1. Risk Management

• Property managers are responsible for minimizing risks to both the property and the people (tenants, visitors, contractors).
• Insurance is a key tool in protecting against financial loss from:
• Fire, flood, and natural disasters
• Theft or vandalism
• Liability claims (e.g., someone slips and falls)

### 2. Financial Protection

• Insurance can cover large unexpected expenses (e.g., $100K roof damage or $500K lawsuit).
• Knowing what’s covered (and what’s not) helps property managers avoid costly surprises and budget better.

### 3. Handling Claims Effectively

• Property managers are often the first responders when there’s an incident (like a fire or injury).
• Understanding the claims process means they can:
• Document incidents properly
• Work efficiently with insurance adjusters
• Help owners/tenants get reimbursed

### 4. Reducing Premiums & Costs

• Managers who understand insurance can often help reduce premiums by:
• Implementing safety measures
• Keeping good maintenance records
• Avoiding frequent claims

Property managers must understand insurance not just to check a box — but to protect assets, stay legally compliant, and operate efficiently. It’s a core part of being a responsible and professional manager. Also it helps avoid being sues for professional negligence.

This will be a informative seminar breaking down and understanding risk management and how to properly protect your clients investment. There will also be free food provided! Set yourself apart from other property managers in the area by grasping a understanding on how to properly protect your clients investments while keeping insurance premiums low!