Property Managers E&O
Partner with Vela to deliver the underwriting experience and account
know-how required to deal with the myriad of risks facing property managers.
Target Classes
•Computer Network Security
– Additional premium
•60 day reporting window
•Written on a non-admitted basis
– Available admitted in NJ
•$5,000,000 limit capacity on
a primary basis
•Wholesale Exclusive Carrier
•AM Best A+ XV rating
– A W. R. Berkley Company
•Condominium Associations
•Homeowners Associations
•Individual Homes
•Apartment Rentals
•Vacation homes and rentals
•Commercial Buildings
•Hotel Managers
•Multi-family residential
Just What
Property
Managers Have
Been Looking For
Managing property is always a riskfilled business. Daily decision-making
impacts both bottom lines and owner/
resident security. No matter how well
fiduciary responsibility is upheld, staff
is managed or property is maintained,
property managers’ actions are often
called into question. They need back up.
Our policies are designed to meet
the needs of a full range of property
management assignments from
individual homes to condominium
and homeowner associations in all
states except Delaware, including even
tough to write locales nationwide.
Eligibility
Atlanta, GA • Boston, MA • Chicago, IL • Denver, CO
Glastonbury, CT • Hamilton Square, NJ • Los Angeles, CA
Medford, OR • New York, NY • Omaha, NE • Radnor, PA
Solvang, CA • St. Paul, MN • Walnut Creek, CA
REITs; properties built,
constructed or developed by
the insured, its owner, related
entity or real estate agents.
Top 10 States by Policy Count
Coverage Available
•Final Adjudication
•Discrimination Coverage
– Available up to the policy limit
•Independent Contractors
•Punitive Damages, where allowed
•Personal Injury
•36 Month ERP option
•First Dollar Defense
– On select accounts
1. California
2. Florida
3. Texas
4. New York
5. Arizona
6. Illinois
7. Georgia
8. Michigan
9. Massachusetts
10. Oregon
As an underwriting manager for subsidiaries of W. R. Berkley Corporation
that are rated A+ (Superior) XV by A.M. Best (Outlook: Stable) and A+
(Strong) by Standard & Poor’s (Outlook: Stable), Vela has access to the
financial stability, know-how and best practices of some of the nation’s preeminent insurance companies. And because we never outsource your clients’
claims, you and your insured can count on fast and fair claims resolutions at
the lowest possible cost.
For more information, visit WWW.VELA-INS.COM.
Or e-mail [email protected].
For submissions, e-mail [email protected] or call us at 877.VELA-INS.
@vela_ins
SERVICE OFFICES:
Excluded Classes
•No maximum size of
commissions/gross receipts
•Start-ups acceptable
•Accounts with claims
•All states except for DE
•Accounts with ownership
interest in properties
vela-insurance-services
Products and services described above are provided through various surplus lines insurance company subsidiaries of W. R. Berkley
Corporation and offered through licensed surplus lines brokers. Not all products and services may be available in all jurisdictions, and the
coverage provided by any insurer is subject to the actual terms and conditions of the policies issued. Surplus lines insurance carriers do
not generally participate in state guaranty funds and insureds are therefore not protected by such funds. Vela Insurance Services conducts
business as Vela Insurance Services, LLC in California as a licensed surplus lines broker (License Number 0C94218).This material does
not amend, or otherwise affect, the provisions or coverages of any insurance policy issued. It is not a representation that coverage does
or does not exist for any particular claim or loss under any such policy. Coverage depends on the facts and circumstances involved in the
claim or loss, all applicable policy provisions and any applicable law. Availability of coverage referenced in this document can depend on
underwriting qualifications and state regulations.
For additional information concerning W. R. Berkley Corporation’s insurance company subsidiaries, visit www.vela-ins.com/Tos/Legal.
A Constellation of Resources for Wholesale Brokers
12455 12.2016
© 2017 Vela Insurance Services. All Rights Reserved.