The complex real estate and development industry which exists in today’s climate calls for more than broad cost effective coverage, it calls for a well-rounded risk management approach.
Starkweather focuses on proper transfer of liability techniques within the nuanced real estate and development industry. Proper transfer occurs through implementation of a trifecta approach: contract certainty, best in class risk management practices and proper insurance procurement and negotiation.
At Starkweather, our team of insurance and risk management professionals understands how to access the commercial insurance markets and secure the appropriate coverage for all types of risk at the most cost-competitive price. This comes from a balance of expertise, sophistication and servicing.
The real estate industry is a 24/7 industry and our team of professionals understands the need for rapid response and sophisticated servicing. From working with lenders and partners, to assure insurance and risk management issues do not impede a deal, to our dedicated claims team in place to maximize the most from of your coverage should a loss arise -our experienced team is integrated into your organization to function as a part of your risk management platform.
The industry expertise runs through the entire team structured to service your account. From the account executive to the various brokerage teams, to the claims and client advocates, all have extensive real estate industry expertise and experience. These highly-trained individuals are experts in their selected disciplines and coverage lines and provide the support needed to allow you to focus on your business and portfolio. Providing the consultative, risk management approach to our real estate clients allows us to differentiate ourselves from the competition and enables our clients to reap the benefits.
Our expertise includes developing programs for various asset classes within the real estate industry:
- Securing the placement of complex layered insurance programs for both property and casualty exposures
- Implementing premium allocations
- Creating and maintaining a proprietary claims management program
- Providing on-going trend analysis and peer benchmarking
- Implementing industry-specific safety and loss control engineering to reduce exposure and lower the overall total cost of risk (TCOR)
- Conducting insurance policy audits as part of due diligence acquisition and divestiture processes
- Review third party contracts (i.e. vendor, tenant, property management, subcontractors, loan agreements) to assure proper transfer of liability to third parties as well as assure necessary language exists to trigger maximum coverage within client’s as well as third parties’ policies
- Monitoring third-party relationships through Certificate of Insurance tracking and reporting
- Evaluate the applicability of alternative risk strategies