Efficient risk management is a crucial component of successful real estate development and property management. The insurance markets are not static and, therefore, each renewal presents a new opportunity to review, benchmark and improve the efficiency of your risk management program, which can affect your bottom line.

The soft market of last few years has hardened as a result of the following factors:

  • The insurance industry suffered losses close to $1 trillion in 2017 alone and climate change and increased weather events are expected to continue.  Insurers are acting unambiguously to protect their financial and reinsurance positions.   
  • There has been very significant consolidation in the insurance industry, resulting in a less competitive environment.
  • Underwriting has become more disciplined, requiring more detailed information and a particular focus on ensuring that valuations are accurate.
  • The overall result of these factor has been:

-          Meaningful premium increases.

-          Increased client deductibles/retentions.

-          Non-renewals in some cases.

 

How We Can Help

Our firm’s long-term experience and diverse real estate client base provides the basis for us to offer a wide range of assistance and value to clients. 

  • Keep track in real time of the rapid changes each insurer is making in this hardening market.
  • Benchmark pricing and coverage terms and conditions.
  • Develop an appropriate strategy to minimize the adverse client impacts of a hardening market.
  • Negotiate renewal pricing and coverage for clients from a position of knowledge.
  • Identify and address coverage gaps.
  • Develop a submission to underwriters that includes the increased exposure details they require, while positioning the client in the best possible light for coverage.
  • Transfer risk by contract to vendors and others to reduce premiums.

Types of Clients

Real Estate Developers (Public and Private)

Asset Managers and REITs

 

Property Managers (Public and Private)

Contractors

 

Condominiums and Cooperatives

Lenders and Investors

 

 

Types of Projects

Habitational Real Estate

Utility Construction and Maintenance

 

Commercial Real Estate

Infrastructure Construction (e.g. Major Transportation Projects)

 

Student Housing (private and institutional)

Institutional Development (Healthcare Facilities, Universities, Religious Organizations)

 

Military Housing

Complex Mixed-Use Projects involving Multiple Ownership Structures and Public Infrastructure

 

Assisted Living Facilities

 

 






































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































Types of Projects

Habitational Real Estate

Utility Construction and Maintenance

 

Commercial Real Estate

Infrastructure Construction (e.g. Major Transportation Projects)

 

Student Housing (private and institutional)

Institutional Development (Healthcare Facilities, Universities, Religious Organizations)

 

Military Housing

Complex Mixed-Use Projects involving Multiple Ownership Structures and Public Infrastructure

 

Assisted Living Facilities

 

 

Contact

Martin S. Berman
Real Estate, Construction and Hospitality Practice Leader
(781) 449-2866
Send an Email

Capabilities

Insights

Insurance Fundamentals for Leasing Attorneys

We presented to the Boston Bar Association in Boston, MA on June 4, 2019 and addressed current issues that we are seeing in commercial and residential leases.