Insurance Brokerage
Parallel specializes in providing support for the real estate industry. We focus on risk mitigation/transfer and placement of the applicable insurance coverages, including:
FIXED ASSET COVERAGES
- Property
- General Liability
- Commercial Auto
- Umbrella/Excess Liability
- Pollution Liability
CONSTRUCTION ASSET COVERAGES
- Builders Risk
- Owners Interest General Liability
- Owner/Contractor Controlled
- Insurance Programs (OCIP/CCIP)
- Pollution
EXECUTIVE RISK COVERAGES
- Errors & Omissions
- Directors & Officers
- Employment Practices Liability
- Crime
- Employed Lawyers Liability
- Cyber Liability
- Workers Compensation
ADDITIONAL RELATED SUPPORT
- Endorsement processing
- Certificate requests and compliance
- Loss Control scheduling
- Claim reporting & management
- Insurance Cost Budgeting
- Invoice Allocation
Transactional Consulting
Parallel Risk Advisors provides insurance consulting services to national and global investment firms.
Our firm is built on our vision of delivering excellent insurance services and bringing clarity and peace of mind to our clients. Our team includes high quality, intelligent, problem solvers.
We provide insurance consulting support for both debt and equity deals. Each deal is unique, but regardless of the deal type, our services always include a thorough review, complete analysis, a supported recommendation, notice of compliance, and a final report for your files.
REVIEW
We review insurance and indemnity provisions in loan and other agreements applicable to the deal.
RECOMMEND
We recommend proper coverage and limits for the deal, considering the specifics and economics of the borrower, lender, and equity provider.
ANALYZE
We analyze risks and exposures around the transaction through third- party reports and available ancillary information.
COMPLIANCE
We confirm appropriate compliance through review of insurance information and communication with all relevant parties.
Insurance Risk Management
Parallel monitors the real estate and insurance industries and how they intersect. This allows us to best support our clients with their insurance-related, risk management needs.
Whether you’re looking for an overall insurance risk assessment, support on a specific project, or just a single contract review, we have an option for you.
RISK ASSESSMENTS
Tell us about your portfolio of assets, current insurance program, and how you operate; and we’ll take it from there.
Our Insurance Risk Assessments will evaluate your insurance program for corporate and portfolio exposures and your contractual risk transfer.
CONTRACT SERVICES
- insurance compliance support for existing contracts
- insurance-related contract review and markup for new contracts
- negotiations with various parties including any legal counsel you hire to draft the contract
- build an insurance matrix (outlining all project insurance requirements/compliance by contract)
- benchmark coverages and costs
- review insurance options and make recommendations.
OTHER SERVICES
- Customized Policies and Procedures Manuals
- Creation of standard risk transfer language (for leases, construction docs, PMAs, DMAs, and CMAs)
- Field questions from your property and construction management teams
- Captive strategies