Real Estate Industry
For over sixty years, ICA’s servicing of the real estate industry has evolved to address the risk management needs of REITs, private equity firms and property owners and developers of all types whose ownership includes habitational, commercial, industrial, shopping centers and other real estate sectors. In that this industry is multifaceted, ICA’s clients also include property managers of commercial and habitational organizations as well as those in other real estate business sectors and those in the financial sector, including tax credit syndicators and investment managers in all types of properties. These Clients include the largest home builder in the United States, second largest REIT, the largest North American Property manager of residential communities, some of the most exclusive condominium and coop destinations in the United States and other well known companies that account for one quarter of ICA’s Client Base and 44% of its gross revenue.
Real Estate decision makers understand the importance of identifying the numerous causes of loss that face their organizations, because the significant implications in not doing so can cause the loss of the assets that they own, manage or invest in. For example, liability for uninsured or underinsured contractors, damages for losses attributable to construction, unforeseeable weather related perils, increasing awards for damages to claimants and more recent issues relating to cyber intrusion and liability for personally identifiable information. These examples comprise only a small sampling of risks associated with the Real Estate Industry. As a result of the advice that ICA provides, real estate decision makers are empowered with the ability to proactively manage their risks and to implement procedures so that their real estate businesses will not be left with uncovered losses.
Many of ICA’s services are designed specifically for all aspects of the Real Estate industry, which include Certificate Of Insurance Program Management services for administering compliance from the real estate client’s tenants, contractors, vendors, and other parties, Contractual Risk Assessment Services, First Party Claims Preparation and Recovery services and Lender Risk Management Services to control or mitigate the total cost of their risks to satisfy their organization’s risk management needs. The variety of services mentioned above are further enhanced by ICA’s core services that include ICA’s Risk Management Consulting Comprehensive Service that focuses on enhancing real estate organizations’ insurance policy language and broadening coverage, designing of insurance specifications for risk transfer to third parties, providing loss analytics, benchmarking for policy limits and deductibles, managing property and business interruption claims and providing ongoing risk identification for new exposures to loss.
In addition to ICA’s concierge services, real estate Clients utilize ICA’s Third Party Claims Management services to assist the Client in taking command of claims and controlling defense and administrative costs and also ICA’s Outsourced Risk Management and Placement services to provide the Client’s risk management department with additional resources that supplement and broaden the needs of their department.
“ICA has been a valued partner for over 12 years. We always consult with them before making any risk management decisions and we sleep well knowing that ICA is overseeing our insurance program. We particularly appreciate ICA’s quick response and detailed answers to any questions or issues that arise. We value ICA’s diligence and persistence to ensure that we have the best insurance coverage with the lowest possible premium. Through ICA’s oversight, our risk management program gives us a competitive advantage over other real estate firms. ICA is a step above the rest.” – Real Estate Client
“Extensive knowledge of the insurance industry as a whole, has saved us tens of thousands of dollars over the years. Walking us through [the process] with patience and expert guidance… ICA’s services are unique; they’re not selling insurance, they’re protecting their clients and verifying the proper coverage for every possible scenario.” – Real Estate Client
Contact ICA for a comprehensive list of client references.