Connect insurance to the operation
Commercial real estate programs work best when property values, lease requirements, income, and portfolio-wide liability are coordinated. Portfolio-minded coverage for buildings, liability, income, and ownership entities.
Frequent incident prevention
Review the current operation, credible loss scenarios, management controls, contracts, requested limits, and the policy terms intended to address this issue.
Severe-loss controls
Review the current operation, credible loss scenarios, management controls, contracts, requested limits, and the policy terms intended to address this issue.
Management review and corrective action
Review the current operation, credible loss scenarios, management controls, contracts, requested limits, and the policy terms intended to address this issue.
Risks that deserve specific attention
Property and catastrophe damage
Describe where the exposure occurs, who controls it, how frequently it arises, what could make a loss severe, and which documented controls are in place.
Premises and ownership liability
Describe where the exposure occurs, who controls it, how frequently it arises, what could make a loss severe, and which documented controls are in place.
Income loss and changing replacement costs
Describe where the exposure occurs, who controls it, how frequently it arises, what could make a loss severe, and which documented controls are in place.
Coverage areas to coordinate
Commercial property and business income
Confirm limits, deductibles, covered entities, locations, operations, exclusions, endorsements, and how this protection coordinates with the rest of the program.
General and umbrella liability
Confirm limits, deductibles, covered entities, locations, operations, exclusions, endorsements, and how this protection coordinates with the rest of the program.
Ordinance or law and equipment breakdown
Confirm limits, deductibles, covered entities, locations, operations, exclusions, endorsements, and how this protection coordinates with the rest of the program.
Build a useful submission
- Describe every operation, ownership entity, location, service, customer type, and material change since the prior policy began.
- Provide current revenue, payroll, values, vehicles, equipment, contracts, and currently valued loss information when available.
- Explain significant claims, near misses, corrective action, safety procedures, training, maintenance, and management oversight.
- Identify requested effective dates, contract deadlines, lender or landlord requirements, desired limits, and deductible preferences.
Questions the review should answer
How will the program address property and catastrophe damage?
Connect the answer to the appropriate policy, limit, deductible, endorsement, exclusion, operational control, and recovery plan.
How will the program address premises and ownership liability?
Connect the answer to the appropriate policy, limit, deductible, endorsement, exclusion, operational control, and recovery plan.
How will the program address income loss and changing replacement costs?
Connect the answer to the appropriate policy, limit, deductible, endorsement, exclusion, operational control, and recovery plan.
Frequently asked questions
What information helps prepare a Commercial Real Estate insurance loss-control priorities review?
Start with a clear description of the operation, locations, ownership, revenue, payroll, property, vehicles, contracts, current insurance, and loss history. For commercial real estate, pay particular attention to property and catastrophe damage, premises and ownership liability, income loss and changing replacement costs.
Which policies commonly deserve attention for commercial real estate?
The starting coverage areas include commercial property and business income, general and umbrella liability, ordinance or law and equipment breakdown. Actual needs depend on the operation, contracts, locations, people, property, vehicles, services, and available market terms.
Coverage descriptions are general. Eligibility, availability, limits, deductibles, valuation, exclusions, and policy terms vary by operation and insurance market. Actual policy documents control.