Certificate of Insurance Program
Where to Send Certificates of Insurance
Certificates can ONLY be sent via facsimile or email to the following places.
PLEASE NOTE THESE CONTACTS HAVE RECENTLY CHANGED, SO UPDATE YOUR RECORDS
ACCORDINGLY. Please make sure to include in the subject the name of your
property and address to ensure proper processing. We ask that you allow
for 24-48 hours processing once your certificate is received. If you have any
questions, please contact our main office at 630-985-2500. If you are
calling during non-business hours, please leave a message at voicemail box 6612.
Email:
insurance@mcpmc.com
Fax: (888) 958-7890
Background
Effective June 1, 2002, the Illinois Condominium Property Act was amended to
stipulate unit owners must carry insurance covering his or her personal property
and include third party liability protection. Further, it is advised that the
Association be listed as Additional Insured or Certificate Holder to insure the
Association of proper notice if the unit owner's policy were to go out of force.
There should be no additional charge in premium for the unit owners to add the
Association as Additional Insured or Certificate Holder. Each Association
Board can elect to adopt this amendment as part of its Rules & Regulations.
If a Board so chooses, MCPMC offers a program to track and monitor...
The Program
MCPMC offers a service to its clients to monitor and track that all
homeowners have proper insurance per the requirements set by the Board. An
initial letter is sent out to all homeowners in the Association listing the
requirements approved by the Board and due date. If the certificate,
meeting all the requirements, is not received by the due date, a courtesy letter
is sent to the homeowner notifying him/her of the deficiencies. Each year,
at renewal, the homeowner is required to send a new certificate of insurance.
As noted above, by naming the Association as Additional Insured or Certificate
Holder, a renewal certificate should automatically be sent to our office. If the
new certificate is not received in time, another courtesy letter will be sent
out. This program is designed to ensure the protection of all homeowners
in the community against damage covered by insurance. As such, it is
imperative all homeowners comply. Accordingly, if the above requirements
are not met after the courtesy letter, the Board reserves the right to levy a
penalty against the homeowner per the Rules & Regulations.
