Effectively manage property risks with a partner who understands your challenges first, and builds custom solutions second.
Managing real estate property grows increasingly complicated each year, and so do the risks that come with it. Even if you think you’ve checked all the boxes, surprise rate increases, low-quality data driving your decisions, individually insured assets and lack of due-consideration to exposures can bring an efficiently run management team to a grinding halt.
NFP’s professionals are well versed in reviewing loan and management agreements. We pride ourselves in doing so in a collaborative manner: specialized experts review documents to best ensure the insurance policies work and respond as desired. The team will opine on coverage deficiencies and work with all parties to obtain an amicable resolution. Additionally, NFP provides a further review through an employed lawyer who will offer risk advisory in connection with specific questions related to contractual risk transfer.
Reducing and Preventing Losses
Loss control is vital for property management companies. Maintenance and repairs in units, damages to common areas, dealing with theft and security, and the possibility of elemental damages all pose unique risks, but many of these sources of loss can be mitigated with the right approach.
An integral component of NFP’s approach to risk management, loss control engineering services – including risk identification services and loss forecasting services – is available to all of our insurance brokerage clients. We deliver results by coordinating with you on:
- Comprehensive loss and exposure analysis
- Coordination and management of third-party service providers
- On-site surveys focusing on major loss sources
- Review, coordination and management insurer activities
- Safety and health plan review and development
- Stewardship reports to management providing updates on the progress of the safety initiatives
- Training program development and delivery
The Real Estate Group is ready to partner with you to help you keep the properties under your management comfortable, secure and profitable. Reach out today to see how we can help you reach your goals.