Our Real Estate Practice Group
At Metropolitan Risk we understand how crucial it is for most real estate organizations to grow or maintain your profit margin by relentlessly focusing on your expenses.
Two critical expenses for your organization are property & liability insurance. You better believe our real estate owner, developer, & property management clients understand the significant impact liability, property, or workers’ compensation claims will have on their current and future profits.
What makes our real estate practice group unique is blending the science and protocols of risk management, with the placing of the real estate insurance contract. This allows us to achieve a result for the client that cannot be duplicated by a transactional focused brokerage relationship. Our clients understand that the price they pay on insurance is directly correlate with how well the claims are managed on the account. This is why we focus on risk management first as we set and achieve mutually agreed upon goals. With a focus toward lowering and managing your liability, property, and workers compensation claims experience, utilizing some of our proprietary profit tools like the Risk Rocket or Deep Claims products, our clients achieve reductions in both direct and indirect costs which include their insurance premiums.
Once you realize that 80% of your risk related P&L costs are outside the insurance transaction you will insist on engaging a Risk Advisor, not simply a transactional insurance broker.
“One of the great myths is that if insurance pays there’s no loss to me the building owner. Nothing is farther from the truth. If you pay $100,000 a year for your insurance, and you have a clean loss history, where do you think your renewal rates are going to go with a million dollar reserve on your loss runs. Go to another carrier? They’re going to surcharge you too. Fact is a million dollar reserve on a $100,000 account will probably increase your renewal by another $100,000 making your total premium $250,000 a year for four years! Thus a million dollar claim will cost a property owner $600,000 over a four year period. Do I have your attention now? That in our industry parlance is a net income loss, income that you would have had except for a particular event. Here’s where good risk management comes in.”
Prevent these charges with good risk management! What’s your broker doing for you?