Alexander J. Wayne & Associates Proudly Presents: TripleNet Insurance
Most commercial landlords understand the risk of a tenant defaulting—but few are prepared for the financial impact when a property sustains physical damage and the tenant has the contractual right to stop paying rent. That’s where TripleNet Insurance from Alexander J. Wayne & Associates, Inc. steps in.
Overview of the Program
Alexander J. Wayne & Associates, Inc. has developed a unique monoline insurance product specifically designed for landlords leasing commercial properties under triple net lease (NNN) agreements. This coverage protects against the loss of rental income when a property suffers physical damage that allows the tenant to vacate or abate rent per the lease terms.
Unlike traditional commercial property packages that include multiple coverages you may not need, this focused solution keeps costs down while targeting a gap that’s often overlooked in standard policies.
Ideal Accounts and Appetite
This program is tailored for landlords who lease to large, multi-location commercial tenants with proven business models. Ideal tenants include national pharmacy chains like Walgreens, Rite Aid, or CVS, where triple net leases are common and predictable revenue streams are critical to the landlord’s financial stability.
Strong submissions often come through channels such as:
- Finance companies
- Mortgage brokers
- Real estate investment associations
We are currently focusing on these high-quality tenant classes and will expand our appetite as the program evolves.
Coverage Highlights and Advantages
- Loss of Rents Coverage – Protects landlords when a covered physical loss disrupts rental income.
- Lease Enforcement Coverage – Unique to this program, reimburses legal costs when tenants breach lease terms.
- Monoline Structure – Offers a cost-effective alternative to bundled policies by only covering what's needed.
- Large A+ VX Carrier – Backed by a financially strong international insurer.
This coverage can be the deciding factor in maintaining favorable loan terms or securing new financing, especially in today’s demanding lending environment.
Underwriting Notes and Minimum Premiums
Minimum premiums for the TripleNet Insurance program start at $5,000. Coverage includes:
- Limits up to $1,000,000 of rental income
- Base rate of $2.00 per $100 of rents
- Waiting periods starting at 7 days
The policy form is available upon request, and our team is ready to assist with underwriting questions and submission requirements.
Territories and Availability
This program is offered on a non-admitted basis in all fifty states, with A.J. Wayne holding non-resident surplus lines licenses in nearly every state. Reach out to confirm eligibility in your client’s jurisdiction.
Why Work With Alexander J. Wayne & Associates, Inc.?
As a wholesale broker with decades of experience in niche commercial programs, Alexander J. Wayne & Associates brings focused underwriting and responsive service to each submission. We are committed to helping you protect your landlord clients with tailored insurance solutions that address real-world lease risks.
If you have landlord clients leasing to major national tenants, this program could be a vital revenue protection tool. Let us help you place this unique coverage efficiently and competitively.
Get your sales kit:
Al Wayne
(773) 305-7680
[email protected]
Offered through Alexander J. Wayne & Associates, Inc.;
2551 N. Clark Street Suite 601
Chicago, IL 60614
Frequently Asked Questions
What types of accounts are a good fit for this program?
Landlords leasing commercial properties to national tenants with triple net leases, such as Walgreens or CVS, are ideal candidates for this program.
What does TripleNet Insurance cover?
It covers loss of rental income due to physical damage that allows the tenant to vacate or stop paying rent, as well as legal reimbursement if a tenant breaches the lease.
Is this program available in my state?
Yes, the program is available on a non-admitted basis in all 50 states through A.J. Wayne’s surplus lines licenses.
What is the minimum premium for this coverage?
The minimum premium starts at $5,000, with rates based on rental income and selected limits.
Can I receive a copy of the policy form?
Yes, the policy form is available upon request. Contact A.J. Wayne & Associates for more information.
Need help placing an account? Connect with a market specialist.