FirstService Residential Brings in Industry Experts
Wednesday, February 22, 2017
FirstService Residential Brings in Industry Experts to Educate Association Board Members on Community Insurance
BLOOMINGTON, MN (Feb. 16, 2017) --- Nearly 50 Board Members from 18 different Homeowner Associations throughout the Twin Cities attended last night’s Board Training Session at FirstService Residential’s Bloomington office. FirstService Residential, Minnesota’s leading association management company, brought in three community association insurance experts to deliver an insightful presentation on Community Association Insurance and Risk Mitigation.
Sean Kent, vice president of FirstService Insurance Brokers, presented on the basics of community association insurance during Wednesday’s training. “It’s very important for the Board of Directors to have an understanding of the types of coverage an association needs to appropriately mitigate risk and reduce its liability exposure,” said Kent. “Community association insurance is very different. It’s a niche market, so agents and brokers must possess highly specialized knowledge and maintain partnerships with the right carriers.” Sean started his career as an underwriter before becoming a broker, which he has been for almost a decade.
Marsh and McLennan’s Herman Fasbender, community association specialist, and Tim Gallagher, director commercial lines, provided local insights specific to the Minnesota insurance market. “Community associations require specific policy coverages like Directors & Officers (D&O) and Workers Compensation. Minnesota Homeowner Boards must have basic insurance knowledge in order to make educated decisions,” said Fasbender.
In 2016, FirstService Residential implemented a Board Training Series. The series covers a variety of basic and complex issues that are unique to community associations for the purpose of advancing the knowledge and development of Board Members and help them effectively fulfill their roles.
“We receive positive feedback from our Board Training Series, and they [Boards] want more. Responding to the need for Homeowner Board education is just another way for us to make a difference in and provide value to the communities we serve,” said Mark Gittleman, president of FirstService Residential Minnesota.
About FirstService Residential
FirstService Residential is North America's largest manager of residential communities and the preferred partner of HOAs, community associations and strata corporations in the U.S. and Canada. FirstService Residential's managed communities include low-, mid- and high-rise condominiums and cooperatives, single-family homes, master-planned, lifestyle and active adult communities, and rental and commercial properties.
With an unmatched combination of deep industry experience, local market expertise and personalized attention, FirstService Residential delivers proven solutions and exceptional service that add value, enhance lifestyles and make a difference, every day, for every resident and community it manages. FirstService Residential is a subsidiary of FirstService Corporation, a North American leader in the property services sector. For more information, visit www.fsresidential.com.
About FirstService Corporation
FirstService Corporation is a North American leader in the property services sector, serving its customers through two industry-leading service platforms: FirstService Residential, North America's largest manager of residential communities; and FirstService Brands, one of North America's largest providers of essential property services delivered through individually branded franchise systems and company-owned operations.
FirstService generates more than US$1.1 billion in annual revenues and has more than 15,000 employees across North America. With significant insider ownership and an experienced management team, FirstService has a long-term track record of creating value and superior returns for shareholders. The Subordinate Voting Shares of FirstService trade on the NASDAQ and the Toronto Stock Exchange under the symbol "FSV".