Real Estate Insurance

Whether you’re in the business of buying, selling, leasing, managing, developing or redeveloping property, you have a lot to oversee. With so many factors in play, an off-the-shelf approach to insurance won’t protect you or your business should disaster strike. Risk Strategies’ Real Estate practice offers specialized insurance and risk management services custom tailored to your needs. We understand the unique risks inherent to the industry, including the fast-moving regulatory landscape and effects of climate change, and can help you weather any storm — natural or man-made.

The real estate industry has faced many obstacles in recent years, from climate change to the COVID-19 pandemic to all the new and changing laws and regulations in-between. Our breadth of knowledge and specialty focus allows us to take a deep dive into the ever-evolving exposures your business faces, including:

• Environmental/climate-related issues, including coverage gaps, exclusions and losses due to water, wind, fire, hurricanes, tornados and other catastrophic weather events caused by changing weather patterns
• Shifting laws and regulations, notably labor laws in states like California and New York
• Social inflation due to recent trends, leading to rising claims costs, increased litigation, new negligence concepts, broader definitions of liability and larger compensatory jury awards
• Exclusionary languages, specifically those related to increasing tragic events like shootings
• Builder’s risk challenges as extended projects are making it increasingly difficult to obtain the full policy limit amount that’s needed from start to finish

The hard market is in a state of transition as we’re facing increasing premiums and deductibles, reduced limits and declining coverage in flood and wildfire zones. However, concurrent with these challenges are many fresh opportunities. Along with the coverages necessary to tackle these obstacles, such as property and casualty, professional, management, catastrophic loss and environmental liability, we offer:

• Creative solutions from a national perspective for local risks
• Efficient communication with lenders and third parties during loan structures to find solutions
• AIR catastrophe modeling to understand your exposure to hurricanes and tropical storms
• Flood analysis to understand your threat level and omit your property from flood zones if applicable
• Captive solutions for owners with large residential portfolios to reduce your risk by covering individual tenants

When you’re facing the most pressing business challenges, maximizing your success starts the right partner. At Risk Strategies, you get a dedicated risk management consultant and partner with in-depth industry knowledge and 25 specialty practices. Our team knows the ins and outs of the industry and has been around to navigate its peaks and valleys. This, combined with being part of one of the country’s top insurance brokerage and risk management firms, allows us to provide the best service possible.

• We cultivate and maintain deep, high level relationships with all insurance markets so we can negotiate the broadest and most competitive insurance program for you
• We provide ongoing communication, education and market analysis to you and your business so you are current on pricing changes, new coverages and topics relative to your business operations
• We conduct critical reading and analysis of governing documents for residential associations, joint venture agreements, development projects and tenant leases to assess and address all insurance and indemnity responsibilities
• We do in-depth claim analysis and review on a continuous basis to identify and address claim trends to provide loss control measures to reduce claim frequency and severity, resulting in lower insurance costs

Spencer Macalaster, Executive Vice President - smacalaster@risk-strategies.com

Dan Cioci Jr., Senior Vice President - dcioci@risk-strategies.com

Todd Olivieri, Managing Director - tolivieri@risk-strategies.com