This real estate investment company with a large portfolio of garden-style apartments across multiple states was a current client of CBIZ Employee Benefits and a previous referral from CBIZ Financial Services. During a consultative discussion with their CBIZ benefits advisor, an opportunity was identified to bring in the CBIZ Property & Casualty team.
Issue
The client expressed concern about their property insurance program, particularly the adequacy of coverage and financial implications of potential gaps. As such, they turned to the CBIZ Property & Casualty team to conduct a thorough insurance review.
Solution
Our insurance review revealed several coverage gaps that could have a significant negative financial impact. Notably, the property insurance program structure would require recapitalization in the event of a loss – up to $10M – which was not contemplated by the client. This left them financially vulnerable to insolvency.
Our team:
- Educated the insured about the property insurance program
- Consulted with the insured on dissolving the property insurance program
- Secured the casualty insurance lines
Outcome
Our guidance supported the client’s fiduciary responsibility to their investors as well as their growth initiatives. CBIZ now provides services to the client via three separate divisions: financial services, employee benefits, and property and casualty. The client maintains strong confidence in CBIZ as a trusted partner for both financial services and risk management.
| Company Information | |
|---|---|
| Industry | Real Estate |
| Geographic Footprint | Multi-State |
| Number of Employees | 25 |
