Endorsement CG 22 70 11 85 makes clear that if a person manages that property, operates it, or acts as an agent for the collection of rents or in any other supervisory capacity, no coverage applies to damage to that property. Also, there is no coverage for the manager under the liability policy of an owner who employs the services of the real estate manager because of the damage to property exclusion that applies to property damage to property owned by the named insured.

It is hard to see how a property manager can protect himself under such circumstances short of purchasing property insurance on every building that he manages, which can amount to a very expensive undertaking. But, the manager might want to consider buying legal liability coverage, or perhaps seek to be named as an additional insured on the condo owner's property policy along with a waiver of subrogation so that the owner's insurer cannot subrogate against the manager. Of course, the property manager can always simply hire an independent contractor to do the repair work, thereby transferring liability for any property damage to another.

Finally, just for informational purposes, note that the endorsement makes any liability coverage that the property manager does have under his CGL form excess over any other valid and collectible insurance that is available to the named insured.