Property – Fraternal Property Management Association (FPMA)
What is the Fraternal Property Management Association?
The Fraternal Property Management Association (FPMA) was created to provide educational assistance to student housing owners and volunteers to strengthen their ability to manage their chapter properties. In addition, the FPMA provides competitive insurance products specifically designed to protect properties owned and leased by student organizations.
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Summary of Insurance Coverage
- “A” Rated Insurance Companies: (as rated by the AM Best & Company)
- All Risk-Special Form Coverage: Coverage is provided for all causes of loss except those excluded by the insurance contract.
- Building Protection: Guaranteed Replacement Cost Coverage is provided if your building is insured to the current reconstruction valuation on file. The policy will provide monies to reconstruct the building to its prior condition, regardless of the stated building limit.
What are the benefits of participation in FPMA?
- A semiannual newsletter that focuses on risk management and issues facing property managers and their fraternal organizations.
- A property insurance program that provides, in most cases, broader insurance coverage for less premium.
- A biennial inspection that provides recommendations for physical plant improvements, addressing life safety and property conditions, along with completion of a replacement cost valuation.
- Security of knowing coverage will still be available at an affordable rate even after a significant loss.
What will the insurance coverage of FPMA include for participants?
- Law and Ordinance Coverage
- Business Personal Property
- Equipment Breakdown Protection
- Extra Expense
- Business (Loss of Rents) Income
Would you like a quote? Simply contact
Holmes Murphy Fraternal Practice
13810 FNB Parkway Suite 300
Omaha, NE 68154
Phone: (800) 736.4327
Fax: (800) 328.0522
FPMA Property Program Discount Flyer
- 10% discount for employing a Professional Property Management Company
- 5% discount for the completion of a Strategic Assessment with Pennington & Company
- 20% discount for Safe, Modern, and Recent Technology (SMART) Facility (2010 or newer)
- 10% discount for modern, safe facilities (2000 or newer)
- 5% discount for multiple buildings
- Increased All Other Peril Deductible (discount varies)
- Fire sprinkler system (discount varies)
- Leak Protection System (discount varies). Learn more about the options: Leak Protection
To learn more about the discounts offered with the FPMA Program, please contact:
Barb Witt, Loss Control Account Manager
(800) 736.4327, ext. 4188
Disclaimer: Specific discounts are dependent upon program participation of each chapter facility and its supportive and governing entity (i.e. National Fraternity)