1. Professional Indemnity
Managing agents provide an important professional service. Aside from being the custodians of significant amounts of money, they also manage and advise on the management of property assets.
Errors and omissions are an unfortunate possibility in every professional individual’s life as nobody is exempt from human error. Sometimes these errors or omissions can cause financial loss to clients and for this reason professional indemnity cover is a necessity.
PIMA (Professional indemnity for Managing Agents) is a professional indemnity product specifically designed for managing agents in South Africa.
Managing agents covered by PIMA may display this logo on their website. As the property management industry’s leading professional indemnity cover, you can be sure that your community scheme is better protected if your managing agent is covered by PIMA.
This also qualifies your body corporate to fidelity cover at a reduced rate.
2. Fidelity for Managing Agents
Managing agents are encouraged to purchase their own fidelity cover to protect itself against fraud and dishonesty for funds for which it is responsible, by its employees.
This can be purchased by way of an extension to PIMA.
Client Bodies Corporate which are managed by Managing Agents with PIMA / FIDELITY enjoy substantial discount on FIDCURE premium due to the underwritten risk already understood and some premium paid.
3. Cyber Risk Extension
Limited Cyber Risk cover can be purchased as a PIMA extension