Commercial Real Estate Case Study
This property management firm represented a particular challenge for their prior carrier and broker due to their size, multi-state location, and high valued properties. They were insured with multiple brokers and carriers, and therefore did not have any uniform coverage. This not only created potential coverage issues, but also created various administrative headaches.
We worked with this client to inspect the properties to verify correct underwriting information and placed them with a carrier that met their needs.
Decrease in Premiums
Increase in Liability Protection
- Multiple Insurance Carriers: the client had different carriers, coverages, and effective dates.
- Individudal Umbrella Policies: each location was subject to its own Umbrella policy
- Policy Administration: the client was made to go through 15 individual renewals every year which added unnessecary administrative costs
- Risk Management & Loss Control: wanted to work with carriers who valued proper loss control
- Group Purchasing: simplified the carrier, policy, and administrative process by grouping the properties together on one master policy.
- Umbrella Liability: increased liability protection by $45M
- Loss Control: identified opportunities for risk improvement
- Life Safety Updates: cost savings allowed the client to fund life safety updates in their properties