SERVICES OFFERED
Traditional Insurance Placement: We design and place insurance programs for numerous multi-family schedules and are compensated by means of a traditional commission the carrier pays. Coverage includes, but is not limited to property, general liability, umbrella liability, boiler & machinery, flood, earthquake, errors & omissions, directors and officers liability, tenant discrimination, employment practices liability, and crime. If you share a like-minded philosophy with us, we would love to place your insurance. Not all will agree, and we understand.
Insurance Consulting: Like your agent but want another set of eyes looking at your information. For a fee (sometimes a negotiated share traditional commission) we can function as the coordinator and consultant for your insurance placement. We can partner with admitted agents in addition to the E&S marketplace. Many of the multi-family placements are declined by the admitted markets and end up in the Excess & Surplus Lines market. We know how to navigate the E&S market and can manage the flexibility that comes with it. Many agents do not fully understand the complex coverage options and combinations that the E&S market brings since carriers have total flexibility with their rates and forms. We can help you understand what you are actually buying and how the proposed coverage will respond in the event of an incident. If you are only looking at price you are potentially setting yourself up for a disappointing claim resolution.
Virtual Insurance Department: We can function as your virtual insurance department for a fee based on the number of locations and units (doors) under management. Often some poor unfortunate person gets stuck as the “insurance person” in the company in addition to their other responsibilities. All too often they don’t fully understand the vocabulary, terms and conditions of the insurance and need to deal with lenders, investors, owners etc. If you are interested in outsourcing this function, we can help. We can collaborate with your current agent(s) in the routine administration including claims coordination.
Insurance Compliance: We offer insurance compliance/review services for any type of lender such as HUD/FHA, Fannie Mae, Freddie Mac, community banks, credit unions, life insurance companies, hard money lenders and family offices. Not every certificate of liability or evidence of property insurance is straight-forward and easy to understand. There are purchasing groups, shared limit schedules and other policy limit sharing programs that can leave major coverage deficiencies.
