Owner/Manager Master Insurance Program
CMR specializes in providing master property & general liability insurance programs for real estate owners and fee based property managers. Our services include feasibility studies, insurance marketing & placement, property level coverage summaries, invoicing by location and line of business, CAM charge documentation, claims management and a restoration service provider network. CMR has programs designed for all asset classes including office, retail, industrial, habitational, self-storage, mobile home parks, assisted living facilities and hospitality (resorts/hotels/motels). All programs include a board level of coverage including liability limits on a per location basis and property coverages tailored to the needs of the specific asset class.
Property Managers Workers Compensation Program
Eligible class codes include 9011 – Apartment Operations, 9009 – Commercial Properties, 9015 – Building Operation – NOC, 8740 – Management Supervisors. Both debit and credit experience modifications are eligible. Program includes designated adjuster team, designated defense panel, nurse triage service, on-site first aid triage and pro-active medical provider network. Includes access to CMR Risk Management Center for training track, job hazard analysis and claims tracking.
Wind/Hail Deductible Buy-Down Program
A deductible buydown, also referred to as a buyback, allows you to reduce the deductible paid under your property insurance program. This stand-alone policy allows you to reduce a larger flat dollar or percentage deductible to a more economically manageable number and/or to meet financer requirements. For example, a $500,000 deducible may be bought down to $25,000 or a 5% deductible may be bought down to 2%. CMR has access to several specialty programs for properties located in various CAT exposed regions.
Earthquake & Flood Insurance Program
In addition to traditional DIC-Differences in Condition policies providing Earthquake, Flood and Excess NFIP Flood, CMR also places NFIP Flood policies and utilizes several specialty private flood programs for high hazard Zones A or V that include broader coverages than those offered through the NFIP (loss of rental income) including a unique FloodFLEX program that includes a percentage payment in addition to the covered flood damage loss payment which can be as high as 100% of the flood damage payment. This supplemental payment may be used for any purpose.
CMR also utilizes a unique “Shake and Pay” program for Earthquake that does not require property damage to trigger coverage. This is a unique program that pays based on the Peak Ground Acceleration in a covered territory after a magnitude 6.0 earthquake or greater occurs in the region. This program can be utilized to supplement high deductible traditional earthquake coverage to reduce overall cost and improve coverage.
LIHTC Builder Risk
Most builders risk insurance policies have the ability to provide coverage for various Soft Costs and Loss of Rental Income, however these additional coverages will not pay for your inability to claim Section 42 Low Income Housing Tax Credits. CMR offers an exclusive program to insure the timing of your tax credits from delays in construction due to casualty losses.
If a covered cause of loss causes a delay in claiming Section 42 tax credits this coverage will pay you the tax credit that you would have otherwise been able to claim.
Coverages offered for both New Construction and Rehabilitation Projects on a broad Builders Risk Coverage Form including:
- All Real Property, existing structures and new structures
- Soft Costs (loan interest, fees, marketing & advertising)
- Loss of Rental Income (pre-leased units)
- Inability to claim section 42 tax credits
- Special form coverage, all risks of direct physical loss
- No Coinsurance provisions
Captive/Alternative Risk Financing Program
Group captive program with separated cells. A captive program minimizes or eliminates an insurance companies acquisition costs, marketing expenses, high commissions, administration and overhead. As a member of a captive, safety pays. You are rewarded for effective risk management by receiving dividends that are directly related to loss performance, while investment income accumulates to your benefit. CMR’s program allows for proven pricing practices that offer an unbiased formula to calculate premiums based on a member’s actual loss history rather than aggregated averages and trends in the insurance market. Risk management services that better control risk and help prevent losses with a formalized risk assessment methodology. In-house safety professionals to help coordinate all risk control services.
Owner/Manager Master Insurance Program CMR specializes in providing master property & general liability insurance programs for real estate owners and fee based property managers. Our services include feasibility studies, insurance marketing & placement, property level coverage summaries, invoicing by location and line of business, CAM charge documentation, claims management and a restoration service provider network....