Coastal Owner/Operator Long-Term Insurance Price/Cost Stability
Property – Layered Insurance Program Through Lloyds of London and Others
Goals and Opportunities:
In 2014 premiums were again rising dramatically (100%+) for Coastal Owner/Operators so a layered Property solution was setup using multiple companies each taking a portion of the risk from large catastrophic events and more. This concept created diversification in the Coastal Owner/Operator system while also making it easier to negotiate future pricing. It also allowed us to simply replace individual partner company with the goal of keeping the pricing as low as possible.
This strategic option is available to all Coastal Owner/Operators.
Owner/Operators now are united together on insurance and safety to stabilize long-term insurance prices in Coastal areas.