Introduction to ProLinkAIM Insurance Policies

Different types of insurance may be required throughout the lifecycle of a deal. Monitoring the policies could be critical to ensuring that requirements are met for obtaining tax credits.

Asset Managers and Insurance Processors with the appropriate security privileges can access the Insurance Policy records on deals.

The Operating Partnership Agreement (OPA) sets the high-level values as per the partnership agreement as well as sets the requirements for each type of policy. This information, located at the deal level, cascades to the Insurance records.

To view a deals' insurance policies, navigate to the deal, and then select the Insurance option in the left navigation panel (under Properties). The List Insurance Policies screen opens.

The List Insurance Policies screen includes grouping. The default grouping is by Responsible Entity. The first sort is by Responsible Entity; the second sort is by Insurance Type.

A warning appears if the property is in a flood zone (Edit Property) and no flood zone insurance exists for the deal.

You can quickly update details on one or more of the deal's insurance policies at one time using the Mass Update tool, which is located in the top toolbar of the List Insurance Policies screen.

Click a row in the List Insurance Policies screen to open the Insurance record and view its details. The Edit Insurance Policy screen opens.

Edit Insurance Policy - Main Tab

The details of a particular insurance policy are captured on Main tab of the Edit Insurance Policy screen. Remember to use the supplemental tabs—Tasks, Documents, and Comments—for assigning reminders, associating important policy documents, and posting internal notes related to policy activities.

Main Information section

Overall Insurance Policy Notes section

Policy Review section

Broker Information section

Coverage Information section

Additional Insureds section

Buildings Covered section

Insurance Provider Rating Information section

Table 1. Insurance Policy Screen (only fields requiring explanation are listed here)

Section/Field	Description
Main Information/Property	Required field that lists all properties associated to the deal; select the property that the insurance policy is for
Main Information/Insurance Type	Required field (system picklist) that identifies the type of insurance coverage for the policy
Main Information/Responsible Entity	Required field (system picklist) that identifies the role of the entity that is responsible for the insurance policy
Main Information/Reporting Entity	Only appears if NMTC or STC - NMTC program is selected on the deal Displays a list of all Deal Entities and Associated Companies on the deal
Main Information/Insurance Provider	Displays a list of all active Legal Entities in the application with the Primary Role of Insurance Provider
Main Information/OPA Requirement Period	Determined by the Actual Construction Completion Date (Edit Property): If the current date is prior to the Actual Construction Completion Date or the property construction date is blank, then Construction is the OPA Requirement Period. If the current date is after the Actual Construction Completion Date, then Permanent is the OPA Requirement Period.
Main Information/OPA Required	Reporting requirements (Yes or No) are determined as follows: Deals other than NMTC—The values on the OPA tab determine reporting requirements OR NMTC Deals—If populated, the values on Edit Entity OPA Reporting Requirements (accessed via the Entity OPA tab) determine reporting requirements; otherwise, the values on the OPA tab are used The values are determined by the Insurance Type, Responsible Entity, and whether the Insurance Type/Responsible Entity combination is required on the OPA for the OPA Requirement Period. If the combination does not exist on OPA, then No will display. If the Responsible Party is a General Contractor, Architect, or Engineer: Display Yes if the OPA Requirement Period is Construction and the Insurance Type/Responsible Party combo is required for Construction (OPA tab – Deal Details) Display No if the OPA Requirement Period is Construction and the Insurance Type/Responsible Party combo is not required for Construction (OPA tab – Deal Details) Display Yes if the OPA Requirement Period is Permanent, the value selected for Extended Coverage for GC, Architect, or Engineer is Select or N/A, and the Insurance Type/Responsible Party is required for Permanent Display No if the OPA Requirement Period is Permanent, the Insurance Type/Responsible Party is required for Permanent, and the current date is less than the Actual Construction Completion Date AND No is the selected value for the Extended Coverage for GC, Architect, or Engineer
Main Information/OPA Waiver	Displays from deal level or Reporting Entity OPA record for the Insurance Type/Responsible Entity combination.
Overall Insurance Policy Notes	Displays from Insurance Provider Notes on Edit Entity for the entity selected as the Insurance Provider
Policy Review	This section displays information about internal policy reviews. The Policy Reviewed By and Second Reviewed By lists display all active system users.
Broker Information	This section displays the name and contact information for the entity selected as the broker for this insurance policy. The Contact Name displays a list of all Contacts for the entity selected as the Broker. The Contact Preferred Phone displays the selected Contact’s phone number. If no Contact is selected, then the phone number of the entity selected as the Broker is displayed. The Contact Email Address displays the selected Contact’s email address. If no Contact is selected, then the email address of the entity selected as the Broker is displayed.
Coverage Information/Named Insured	Displays a list of all active Deal Entities and Associated Companies for the deal
Coverage Information/Per Occurrence Limit	Open text field so that you can enter a dollar amount or percentage; be sure to add the appropriate symbol for the value you enter
Coverage Information/OPA Per Occurrence Limit	Displays the Per Occurrence Limit value from the deal-level or entity-level OPA for the Insurance Type/Responsible Entity combination
Coverage Information/Aggregate Limit	Formatted as dollar amount
Coverage Information/OPA Aggregate Limit	Displays the Aggregate Limit value from the deal-level or entity-level OPA for the Insurance Type/Responsible Entity combination
Coverage Information/Deductible	Open text field so that you can enter a dollar amount or percentage; be sure to add the appropriate symbol for the value you enter
Coverage Information/OPA Deductible	Displays the Deductible value from deal-level or entity-level OPA for the Insurance Type/Responsible Entity combination
Coverage Information/OPA Additional Insured Requirement	Displays from OPA Additional Insured Requirement on the OPA tab. If there is a Reporting Entity, then the values display from the corresponding entity’s OPA record.
Coverage Information/Coverage Type	Only editable when the Insurance Type is General Liability
Coverage Information/Maximum Aggregate Cap	Only editable when the Insurance Type is General Liability
Additional Insureds	Displays all Owner and Deal Entities that are Bank Affiliates (Is Bank Affiliate is selected on Edit Entity) See Introduction to Entities for more information. Tip The Insurance data view includes a comma-delimited list of all "Additional Insured(s)" entities on the insurance policy, as well as a comma-delimited list of all "Additional Insured on Policy," which are the entities that have the Additional Named Insured checkbox selected.
Buildings Covered	Displays a list of all Buildings that exist on the selected Property For each building, you can select the coverage detail Note To delete a building from the deal, the Covered Scope for the building must be "Not Applicable" or "Building Excluded."
Insurance Provider Rating Information	Displays values from the Entity record for the Entity selected as the Insurance Provider

The Additional Insureds grid lists all Owner and Deal Entities that are Bank Affiliates (Is Bank Affiliate is selected on Edit Entity).

While you cannot remove the systematically added Bank Affiliate entities, you can add other entities as needed. Then, select the checkbox(es) in the Additional Named Insured column to indicate which entity(ies) are covered in the insurance policy.

Click New above the Additional Insureds grid to open the Entity Search popup.
Search for and add the desired Additional Insured entity.
The entity is added as an additional insured for the insurance policy. Be sure to select the checkbox in the Additional Named Insured column to indicate the entity is covered.

You can remove entities that were manually added by clicking at the beginning of the row.

Update Multiple Insurance Policies

You can quickly update details on one or more of the deal's insurance policies at one time using the Mass Update tool.

Update the Insurance Provider for One or More Policies

Navigate to the deal, and then select Insurance in the left navigation panel.
The List Insurance Policies screen opens.
Click Mass Update in the top toolbar.
The Edit Insurance Policies popup opens.
Optionally, you can narrow the grid by selecting filters in the top portion of the screen and clicking Filter:
- Property
- Responsible Entity
- Insurance Provider
Select the new provider in the New Insurance Provider list.
In the grid, select the checkbox(es) for the Insurance Policy record(s) to update.
Click Update Selected.

Update the Expiration Date for One or More Policies

Navigate to the deal, and then select Insurance in the left navigation panel.
The List Insurance Policies screen opens.
Click Mass Update in the top toolbar.
The Edit Insurance Policies popup opens.
Optionally, you can narrow the grid by selecting filters in the top portion of the screen and clicking Filter:
- Property
- Responsible Entity
- Insurance Provider
Enter or select a New Expiration Date.
In the grid, select the checkbox(es) for the Insurance Policy record(s) to update.
Click Update Selected.

In this section:

Introduction to ProLinkAIM Insurance Policies

Edit Insurance Policy - Main Tab

Tip

Note

Update Multiple Insurance Policies

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