If your appointed managing agent is a member of a professional or trade association, such as the Association of Residential Managing Agents (ARMA), professional indemnity insurance will be an automatic condition of their membership.
However, there are also statutes in UK law that place personal liability for a range of risks on RMC directors themselves. The insurances a Residents’ Management Company will need to consider include:
You can find more information on the FirstPort Insurance Services website here.
FirstPort Insurance Services is authorised and regulated by the Financial Conduct Authority, registration number 308484. Registered Office: 11 Queensway, New Milton, Hampshire, BH25 5NR.
Want to know more? Just get in touch…
Whether it’s your first time selecting a managing agent, or you’re looking to switch providers, we can help. Call us on 01582 393 756 or get in touch below:
Residents’ Management Companies
- How do I become a director for my Residents’ Management Company?
- I’m unhappy with the service provided by my current managing agent. Can I switch to a new one?
- What are the legal requirements of an RMC director?
- What are the roles and responsibilities of an RMC director?
- What do I need to consider when tendering for a new managing agent?
- What insurance does a Residents’ Management Company need?
- What qualifications and accreditations should a managing agent have?
- What service and support should I expect from my managing agent?
- Where can I find further information about becoming an RMC director?