Client Results - Property
Leveraging RMS Catastrophe Peril Modeling
Allows REIT to Consolidate Programs and Save 37% in Premiums
One of the industry’s largest Habitational REITs was purchasing separate programs for the properties they owned and their Joint Venture properties because of differing loan covenants and dedicated hurricane and earthquake limit requirements from their lenders.By leveraging Beecher Carlson’s licensed catastrophe peril modeling, through RMS, we were able to convince the lenders that the core limits purchased through the "owned" program were sufficient to cover both the owned and joint venture insured schedules.
The results: the client has experienced a 21% reduction in modeled exposure that led to a 43% rate reduction and a year over year premium reduction of 37%.
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