Flood Insurance

This is Palani from unit 903.

Appreciate the unit owners to share similar concerns or issues if you had experienced in receiving flood insurance certificate from the management office. This is with regards to the new policy followed by our Cambridge Management office upon based on request from the insurance broker.

Self and another unit owner had been following up with the management office for the last few weeks. As per the new policy we need to provide several additional information as stated below to the flood insurance company Brown and Brown (http://www.bbmetro.com/) 

Response from management office for our request to have a blank flood insurance certificate

the Flood Insurance or any other type of insurance does not renew automatically, any time there is a change in Broker/Policy and / or Term; lenders will require new Insurance Certificates including Flood. Consequently, Management does have the Broker working on development of a spreadsheet.

Each Unit will be listed on separate Insurance Certificates. The documents will be sent to your lender and Management will leave copies of the documents at the Front Desk for your records and perusal. In order to oblige, Management will need to know the name of your lender(s), lender’s fax number(s), loan number(s), and mortgagee clause. To make the process easy, simply supply us with a copy of the lenders request letters. Documents are usually produced by the Broker within 48 hours from receipt of the request.

Our Question to management office how this process could be made simple and save time to focus on other pressing needs of the association projects and improving Quality of Service

1. Why doesn't the management office maintain a centralized repository of all residents lenders information, loan number etc instead of providing it to an broker. Reason the insurance company or broker may change every year. Rather each year the unit owners have to follow the management office  to provide the same information. If we calculate the amount of phone calls, emails, time for both unit owners and management office doesn't this process look like a joke.

2. Even if the broker sets a new process shouldn't the Cambridge management office follow what is optimal or best practice for every party involved in the process ? 

3. As per my discussion with my lender (or any other mortgage lender) doesn't require an unit number to be provided on the flood insurance certificate except the property address  needs to be mentioned. However if the management office or the broker fax it then they can have individual unit owners loan number mentioned on it.

4. Any unit owner requesting the flood insurance copy need to be provided the same irrespective of whether the unit owner doesn't want it to be sent management office or the broker. Unit owner can ensure in a timely fashion manner the fax had been received by the lender. 

5. This year the flood insurance renewal took time as new board took office. Due to which the mortgage lender will take their own policy if it it's not sent on time.

Rather making this whole process efficient and repetitive way why does the management office manager is complicating it.

Note: I had sent a soft copy of my lender information flood insurance letter on 08/09/2010 as per email request from Cambridge management office and till date my lender had not received my flood insurance certificate or I have received a copy of the same from the front desk. So the broker or the management office promise had already failed.