Case Study:

Placement Strategy Reimagined

AssuredPartners Real Estate

AssuredPartners Real Estate
AssuredPartners Real Estate
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Quick Facts

Real Estate Sector: Apartments

Specialization: Market Rate

Resource: IMPACT Analytics

Valued Client Since: 2010

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Challenge

An apartment owner / manager with over 12,000 units in 12 states received a renewal program with a 40% property premium increase.  The entire property portfolio was written on a master program.  The owner suffered losses exceeding $26M in the last two years and overall, five years history was also unfavorable.

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Solution

Our analysts broke down the loss experience by location / state.  We learned the majority of the properties (90%) had no losses in several years. Texas hail and hurricane claims were driving all the experience.  Our placement strategy included separating the master. Florida and Texas were placed with carriers that specialize in mono-line placements for Florida and Texas.  The balance of the loss-free properties (90%) were placed with a standard carrier at a substantial rate reduction.  

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Client Value

The results of this placement strategy saved the property owner over $1.4M in premium.