Overview of the Program From Preferred Concepts
Property managers face complex liability risks, especially when contractual duties are questioned by property owners or tenants. This program is designed to respond to those risks with tailored professional liability, D&O, and EPL coverages. Whether the issue is failure to maintain property standards, mismanagement of funds, or tenant disputes, Mercator Risk Services can craft coverage solutions that fit your client’s specific needs.
Mercator works exclusively through insurance professionals and can use your existing application (excluding renewal apps) to begin the underwriting process. Alternatively, they can provide a specialized application for your client’s needs.
Ideal Accounts and Appetite
This program is ideal for a wide range of real estate professionals, including:
- Residential and commercial property managers
- Real estate appraisers
- Real estate agents and brokers
- Title and escrow agents
- Title abstractors
- Real estate partnerships and consultants
Mercator also welcomes hard-to-place and distressed accounts, including those with prior claims or financial challenges. If your client has been declined elsewhere, this program may still be a fit.
Coverage Highlights and Advantages
Depending on the client’s operations and exposures, coverage options may include:
- Professional Liability (Errors & Omissions)
- Directors and Officers Liability
- Employment Practices Liability
Coverage is available for a full range of services that fall under property management duties, as defined in the client’s contract. This flexibility allows for customized protection aligned with each insured’s scope of services.
Underwriting Notes and Application Process
Mercator can often begin underwriting with a standard application you already have, or they can supply a specialized version. They are accustomed to working with non-standard and distressed risks and can help you navigate complex or unusual submissions.
Territories and Availability
This program is available on a non-admitted basis through various carriers. Coverage is offered in all 50 states, including Washington, D.C.
States include: AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, DC, WV, WI, WY.
Why Work With Preferred Concepts and Mercator Risk Services
Mercator Risk Services brings deep expertise in professional liability for real estate-related businesses. Their flexible underwriting, access to multiple markets, and willingness to consider distressed or complex risks make them a valuable partner for agents and brokers. Whether you’re placing a straightforward property management firm or a challenging account with prior claims, Preferred Concepts and Mercator can help you deliver effective coverage solutions to your clients.
For more information, contact Mercator Risk Services at (860) 527-9717 or email [email protected]. You can also visit their website at www.mercatorpro.com for applications and additional resources.