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, property owners and developers, property managers of commercial and habitational organizations, and for those in other real estate business sectors.
To adequately manage their risks, real estate decision makers need to understand the importance of identifying the numerous causes of loss that may face their organizations. For example: cyber intrusion and liability for personally identifiable information, requirements within their lenders’ agreements, liability for uninsured or underinsured contractors, damages for losses attributable to construction, increasing awards for damages to claimants, and unforeseeable weather related perils, to name a few. ICA provides real estate decision makers guidance for proactively managing their risks, as numerous perils and new exposures’ require them to implement procedures so that their real estate businesses will not be left with uncovered losses.
ICA’s services are designed to help clients identify these risks with focus on preventing losses from interfering with their organizational objectives, while mitigating the total cost of their individual risks. From successfully implementing loss mitigation strategies and controlling the insurable exposures facing real estate organizations, ICA’s real estate clients benefit from a variety of services that satisfy their organization’s risk management needs. Examples include 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 to be aware of new exposures to loss.
In addition to ICA’s concierge services, real estate clients utilize ICA’s Loan Assumption and Certificate of Insurance Program Design services, for administering compliance from the real estate client’s tenants, contractors, vendors, and other parties.
“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.