Case Study

Client Requests Guidance for Insuring Leasable Properties

  • Constant turnover at prior brokerage and needs were not being addressed.
  • The client had concerns that the turnover had resulted in errors for their real estate portfolio.
  • Our brokerage conducted multiple on-site visits with the client and their management team to fully understand the scope of their operations.
  • We reviewed all policies to map alignment of policy provisions with client’s scope of operations.
  • Client has subsequently referred additional business to Symphony Risk.
  • We acted as a Risk Manager and took time to review in detail a client’s entire scope of business operations.

The Challenge

A commercial and residential operator leased land-parcels for tenants in high-risk operations, as well as high-value, multi-family properties in the San Francisco Bay Area. The variety of real estate use and regional regulatory landscape left significant gaps in insurance coverage. These issues were exacerbated by the prior brokerage’s high turnover and service issues.

The Solution

Our Symphony Commerce team conducted on-site visits to the client’s various properties which included the review of diagrams, plot maps, lease documents, and tenant insurance requirements with site management.
Our analysis identified multiple properties with either no insurance coverage or inadequate coverage. Multiple parcels of land were not insured and various ownership entities were not listed on the policies — thus they were not protected. Our team provided a due diligence review of the client’s tenants, securing current proof of insurance for each, ensuring our client had the proper additional protections in place.

“I appreciate the diligence and thoroughness of the Symphony Commerce team.”

-Symphony Commerce Client

The Outcome

This case demonstrated how we differentiate ourselves. Our team didn’t rely on simply obtaining a broker of record and continuing the status quo.

We act as a Risk Manager and take time to review in detail a client’s entire scope of business operations. This results in a satisfied client, and the trust of referring additional business for the firm.