The Industry Challenge
Shopping Center owners all face the same major challenge: finding a way to fairly allocate a large percentage of insurance premiums to their tenants. Standard insurance programs develop 70-80% of the liability premium based upon the building exposure. In fact, the greatest exposure to liability losses arises from the common area, and not the building. Major tenants resist contributing to these building based liability premiums. This leaves shopping center owners paying the majority of the insurance costs.
Maximizing protection and protecting assets, while reducing insurance costs continue to be a priority for Shopping Center Owners.
The HT&R Solution
Our Shopping Center Program shifts the majority of the liability premium from the buildings, which is typically 70%-80% to the common areas, which is usually 20% to 30%. Our program is underwritten by an A.M. Best's "A" rated carrier, acceptable to all lenders. The owner can now pass along to the tenants a fair share of the true costs by deriving the majority of the liability premium from the common areas.
Risk management techniques we use to analyze your business and provide you with the best program at a competitive price include:
» Lease & certificate review to identify possible exposures of your business & measure the loss potential
» Determination of exposures requiring insurance coverage and those which can be handled by an alternative method.
» A review of your risks and presentation of a comprehensive and competitively priced program.
» Monitoring your program for lender compliance, claims and loss control during the year to make certain it continues to meet your requirements.
Program coverage highlights:
» Replacement cost with no deductible for depreciation
» Agreed amount-no coinsurance
» Boiler & Machinery
» Sprinkler leakage and earthquake sprinkler leakage
» Broadened coverage's
» Building Ordinance
» Foundations included
» Business Income with Extended Period of Indemnity
» Outdoor property
» And more...
We are an insurance broker that truly understands the Shopping Center industry. Our expertise, creative thinking and long-standing relationships with insurance companies have made HT&R one of the most respected names in shopping center insurance. Let one of HT&R's shopping center specialists analyze your present insurance program and show you how we can dramatically lower your costs.
We don't sell you insurance, we help you buy insurance! |
