//Real Estate
Real Estate 2016-11-04T16:05:09+00:00

Real Estate Practice

Brown & Brown is the country’s leading real estate risk management insurance brokers. Our team of professionals is able to furnish property owners, developers and managers of all sizes with critical risk management advice that will help insure against catastrophic losses while keeping the cost in check. There are many aspects of risk that real estate firms face today in the course of acquiring, selling, managing, developing or redeveloping property. Our team, in conjunction with real estate owners, identifies the risks and then designs, negotiates and implements insurance programs that meet the exposures. Real estate firms spend a significant amount of money to mitigate risk by crafting contractual language to address their concerns. This may address some of the exposure but not all. The use of insurance programs are designed and implemented to provide protection as a backstop to contractual language as well as providing coverage for those areas where contractual wording may not go far enough.

Brown & Brown has assembled a group of experts who are leaders in their respective disciplines of property, liability, construction, environmental, loss prevention and claim management. We have a unique approach of pulling together the right professional team specific to your real estate exposure, which is unparalleled in the industry.

Brown & Brown has the ability to bring the “A” team to the table whether it is a single location or national portfolio. In addition, we have the professional depth to provide construction, environmental, catastrophic exposure or contractual design and negotiation. We are tenacious negotiators delivering the most competitive solutions to our clients. Our expertise includes:

Acquisition and Disposition of an Asset

  • Property valuation modeling
  • Engineering inspection due diligence
  • Weather related catastrophic exposure modeling, including wind, flood and earthquake exposure
  • Environmental Due Diligence
  • Contractual liability review
  • Legacy and future third party claims arising out of indemnity obligations. Indemnification agreements often have exclusionary language, time element limitations, monetary caps, ambiguous wording and gaps that can lead to unanticipated costs

Ownership, Leasing or Managing Real Estate

  • Portfolio insurance coverage
  • Contract and lease negotiation assistance
  • Liability safety assessments
  • Claims management
  • Premium allocation and program management
  • Third parties environmental exposure from real estate assets, such as former gas stations, dry cleaning establishments, management companies, or asbestos/lead abatement contractors
  • Indoor air quality exposures affecting third parties
  • Underground or aboveground storage tank coverage

Development and Re-Development

Many real estate firms have development/re-development subsidiaries within their organization while others hire third party contractors. In both scenarios, an insurance review should be performed around how the risks should be addressed. At Risk Strategies we pull together our construction, OCIP, safety and claim team to mitigate and cover these exposures. Here are a few areas to consider:

  • Builders Risk negotiation and placement
  • Owners, Contractors Liability (OCP) negotiation and placement
  • Unexpected Business Interruption Costs
  • Coverage against environmental exposure associated with site run off, mishandling of contaminated materials, contaminated materials brought onto a site or unpermitted activities
  • Contractual reviews of contractors and subcontractors conducting construction activities that are inadequately insured for risks associated with the project
  • Owner Controlled Insurance Programs (OCIPs) and Contractor Controlled Insurance Programs (CCIPs) designed to tailor coverage to the scope of work for the project in the most cost effective way

For more information or  inquire about our Real Estate Practice please contact:

Patrick Healy