Tuesday, July 7, 2015

New Employee Spotlight

ACM is excited to welcome Tony Franquiz, joining our team supporting ACM's Regional Community Association Managers and Senior Staff members. Tony has earned his Bachelor of Arts degree in Journalism from the University of Maryland, College Park. Welcome, Tony!

Monday, July 6, 2015

The Top 10 Association Insurance Questions - Final Installment!

Today we discuss the 10th and final installment of  "The Top 10 Questions asked by Board Members and Community Managers Regarding HOA and Condo Association Insurance." 

We thank Brian J. Finnerty (CIC), Area Sr. Vice President, Arthur J. Gallagher Risk Management Services, for providing us this article and allowing ACM to share with our clients and followers on our ACM News Blog!

Question 10:
What does the fidelity bond do?   

In short this crime insurance coverage protects against the loss or theft of association property or money by an “employee” or other covered person. For example, if you found out a board member embezzled money from the association this bond would protect against that loss.

What is important to note with this coverage is who is covered. You want to make sure that your “manager” is covered under the policy. The management company may have their own insurance but you want to make sure you cover all sides. The Maryland statute also requires that the manager be covered so it is best to make sure they are covered by your policy regardless it they may have their own protection.

It is also important to note for Maryland associations that this is a requirement and not a suggestion for most associations depending on size. The limit suggested to meet the minimum requirement is the less of:
  • Three months’ worth of gross annual assessments and the total of all investment accounts; or
  • $3,000,000
Other items to consider under the crime form are computer fraud, money and securities, forgery and dishonesty.  

We hope everyone found the insurance series to be informative and helpful! Please contact us with any other topics of interest you have and would like discussed on ACM's News Blog! You can reach our Marketing Coordinator by email - srolf@communitymanagers.net - with comments or suggestions. 

Thursday, July 2, 2015

ACM Offices Closed on Friday, July 3, 2015

ACM offices will be closing at 4:00 PM on Thursday, July 2, 2015 and will be closed on Friday, July 3, 2015 in observance of the 4th of July holiday. Should you have an emergency, please call (410) 997-7767 for emergency services. You can also view association information online 24/7 by visiting us at www.acmhome.com. 

We wish everyone a safe and happy holiday weekend!

Wednesday, July 1, 2015

ACM Welcomes New Association in July, 2015!

We are excited to welcome a new community association beginning Full Community Administrative Management services this July:

Deer Ridge Terrace Condominium, located in Baltimore City

We look forward to working with the Board members and unit owners in the management of your community! 

New Employee Spotlight

ACM is excited to welcome Victoria Gibson (Tori), joining our Accounting Department as our Accounts Payable Assistant. Tori comes to us with Accounts Payable and Accounts Receivable experience and attended Longwood University as a Liberal Studies Major with a Minor in English. Welcome, Tori!