Real Estate Developers
Comprehensive coverage for your particular projects.As the real estate landscape changes, risk continue to increase in complexity.
Real estate developers take on a significant amount of risk in the process of creating high-quality real property, and your process relies on the ability to make informed plans and anticipate difficulties. When you’re executing on a plan, rate increase surprises are an unwelcome challenge. Insurance costs are a direct expense to your assets and more cost adversely impacts the value of an asset. Having a partner that consistently communicates changes in the market – and presents ideas to mitigate increased expenses as the market shifts – allows you to stay focused.
When change is constant, seeking out better processes and solutions should be too. Online retailers are hurting brick and mortar stores, lowering demand for new development and lowering returns on projects. Climate change is causing volatile weather, which increased claims for damaged structures and lowers asset values. Property coverage rates, especially for wood frame construction, are experiencing double digit rate increases that increase costs and tighten margins.
Meeting Needs with Innovative Approaches
Innovation drives the value we deliver.
We work to serve you, however robust your needs. We go far beyond simple property and casualty coverage and leveraging the full power of NFP’s network to deliver services including:
Loss Control
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.
Our loss control services respond to your need for sophisticated service capabilities and consistent services across all areas of their business.
We commit to delivering results via:
- Benchmarking
- 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
Claim Analytics
To help you improve efficiency and reduce risk factors, we utilize our insurance risk management services tool, Succeed Management Solutions, for in-house web-based loss recording and analytics. We supplement our system by creating customized analytical reports with graphs to illustrate trends, loss patterns and various loss comparisons to break out claims handling fees, or to meet special needs as they arise.
We can also provide custom loss runs broken out by frequency, severity, loss striations by incurred, cause of loss, same point in time analysis for multiple years, days of week, employee age, length of employment, location and more.
Your Partner In Proactive Risk Reduction
Regardless of the challenge, proactive strategy is vital to managing the impact. Thinking about insuring assets more efficiently (collectively instead of individually), taking on a higher deductibles or creative aggregate deductible structures, or securing coverage at today’s rates for a development pipeline are just a few ideas to consider in a dynamic environment.
Developers choose NFP for our deep knowledge of the nuances and complexities of real estate, and our understanding of how risk affects strategy, financials, operations and people.
We have deep partnerships across insurers paired with the independence to do what’s right for our clients, giving us the ability to deliver expertise and value anywhere you’re operating.
Reach out today to start a conversation about how we can work together to move you forward.