Underwriting practice of property management liability insurance

The risk assessment of property management liability insurance shall include the following contents:

1. Whether the insured has obtained legal qualification.

2. The ownership form, business scope and scale of the insured.

3. The category of entrusted management projects is office buildings, commercial buildings or residential quarters, and the proportion of various projects that manage several types of projects at the same time.

4. The geographical environment, scope and risks of the entrusted management project.

5. What are the safety facilities and emergency rescue measures at the insurance site?

6. The management level and personnel structure of the insured.

7. Past accident records of the insured.

(2) Compensation limit and deductible

The basic insurance compensation limit of property management liability insurance includes two parts: the compensation limit of each accident and the cumulative compensation limit, which is determined by the insured through consultation with the insurer according to the overall risk characteristics and level of the entrusted property and the actual needs.

The compensation limit of the additional insurance of property management responsibility includes the compensation limit of each accident and the accumulated compensation limit during the insurance period. The applicant can choose insurance within the compensation limit of additional risks according to the risk situation and actual needs.

According to the risks of the underwriting business, both sides of the insurance can also determine the absolute deductible for property losses deducted from each accident of basic insurance or additional insurance (no deductible for personal injury or death). For businesses with special risks or higher compensation limits, in addition to the specific deductible, the deductible can also be stipulated at the same time, whichever is higher.

(3) Insurance premium

The basic insurance of this type of insurance is mainly based on the income of the insured's property management business and multiplied by the applicable rate corresponding to the demand compensation limit. But for additional risks, the insurance premium is the additional risk compensation limit multiplied by the additional risk rate. In addition, if the insurance period is shorter than or longer than one year, it should be calculated with reference to the short term rates table.