|
Welcome back! What did you think of our Property Management Software?
Are you subscribed to our feed and receiving email updates? |
Property Insurance Mainstay
May 3, 2010: Mainstay Insurance Group and Liberty International Underwriters (LIU), a division of Liberty Mutual Group, announced today the launch of a new “green” program that offers a broad form general liability product for mid-size real estate properties.
The new primary program targets a variety of real estate classes including apartments and condominiums as well as office, retail and light industrial buildings. The primary program offers specialty green coverage enhancements for indoor environment and adverse publicity exposure. The indoor environment endorsement can cover bodily injury claims resulting from specialized air and water quality equipment and products. The adverse publicity exposure endorsement can provide crisis planning, management and consulting when a green building incurs bad publicity due to a construction defect.
“In addition to a competitive insurance product, the program will also offer membership in a cutting-edge new nonprofit association called AGPOM,” said Dusty Rowland, president of Mainstay. “The Association of Green Property Owners and Managers (AGPOM) offers members a variety of benefits that help leverage the financial and reputational benefits of the Green Movement. The combination of this new GL facility paired with the benefits of AGPOM will provide our retail broker customers with a truly unique business solution for their real estate clients.”
The program also includes a real estate and property managers’ endorsement that modifies and broadens 21 areas of commercial general liability (CGL) coverage. Although coverage normally is listed as separate endorsements, the program combines the coverages in one form, eliminating the need to research multiple enhanced general liability coverage options.
“Green building owners are a good risk because they are more likely to maintain their property and to have in place a strong risk management plan to protect their facility,” said Joseph Peloso, vice president of liability programs for LIU. “This is a target class of business for LIU and we are pleased to enter this market with a competitive insurance product that includes an attractive incentive to go green.”
Specifically designed to compete with current leaders in the marketplace, the program’s general liability coverage will eventually be available in all 50 states. While the primary program is for mid-size risks with premiums between $2,500 and $30,000, larger schedules are also eligible for AGPOM membership and will continue to be handled by LIU’s branch offices. Brokers interested in the program can contact Mainstay at 425-453-5157.
About Mainstay Insurance Group
Based in Bellevue, WA, Mainstay is an insurance program administrator dedicated to serving the insurance and risk management needs of select industries. Launched nationally in 2008, Mainstay builds and manages niche and association based products for commercial insurance buyers. These products are accessible only by retail insurance brokers.
About LIU
Liberty International Underwriters (LIU), a division of Liberty Mutual Group, is a global specialty lines business with an emphasis on niche insurance products distributed through the independent broker network.
SOURCE Mainstay Insurance Group
This is a blog post for Real Estate Professionals, Investors, Landlord, Property Manager, and Property Management Companies. Mainstay Insurance Group and Liberty International Underwriters Launch “Green” General Liability Program For Real Estate Properties is brought to you by SimplifyEm Pay Rent Online and Property Management SoftwareYou might also want to read:
- Property Management Companies Property Managers And Landlords – Management Liability Insurance Property management companies, property managers and landlords OneBeacon Professional Insurance (OBPI), a member of OneBeacon Insurance Group (NYSE: OB), today announced that it will expand its offerings to include a......
- Residential Property Management Association Offers Insurance Program for Landlords February 02, 2011 – ARPOLA Property Management Association has partnered with national carriers to create an amazing insurance program for members. ARPOLA offers the perfect solution for landlords and property......
- Deductible Insurance Expenses You can deduct most types of insurance that deal with your rental property, like Homeowner’s Insurance, Casualty Insurance, and Private Mortgage Insurance. Other common expenses include coverage for fire, theft,......
