Real Estate

Maximizing Results for Real Estate Risk

A U.S.-based real estate investment firm with a portfolio size of over 5,100 units, totaling 4.5M square feet of mixed residential and commercial property was facing an increase in rate from its insurers, as well as reduced limits and coverage terms as a result of the fi rm’s poor loss history in both property and liability coverages.

OUR SOLUTION

UIC, Inc. was retained to provide an independent risk management audit and worked closely with the firm’s ownership to understand the issues driving claims. All available property inspection reports and relevant underwriting information were reviewed. UIC, Inc. provided a comprehensive report on the company’s risk management and insurance program based on a proprietary analytical process. Strategic goals were formed as well as a plan to achieve the same.

With UIC, Inc.’s involvement, the following results were achieved:

1. Using the competitive process, UIC, Inc. achieved an annual on all required matters, including claims representation, premium reduction of 25% from expiring policies, and significantly even greater savings to the incumbent insurer’s renewal terms.
2. Involving multiple insurers and brokers, UIC, Inc. was able to prevent the incumbent insurer’s planned increases in deductibles and decreases in limit and coverage through the leverage it generated for the client from its competitive marketing effort.
3. Obtained broad real estate management errors and omissions coverage.
4. Identified and negotiated 15 real estate-centric endorsements on the general liability and umbrella for greater third-party protection.