Overview of the Program From Atlantic Risk Specialists
This package is designed for property owners who need short- to mid-term protection while buildings are vacant, being renovated, rehabilitated, or newly built. Coverage can include both property and commercial general liability (CGL) components with flexible policy terms. Atlantic Risk Specialists places this program through multiple markets and provides admitted placement where available plus excess & surplus lines access through ARS-Latiff when needed.
Ideal Accounts and Appetite
This program generally fits:
- Owners of vacant commercial or mixed-use buildings
- Owners managing renovation or rehabilitation projects
- Developers and owners of new construction during the build phase
- Tenants performing build-outs in non-owned premises who need project-specific protection
Coverage Highlights and Advantages
- Property and liability coverage available in a single package
- Property limits up to $8,000,000
- General liability limits up to $1,000,000/$2,000,000 with excess limits available
- First-dollar CGL available for qualifying accounts
- Policy terms flexible from 3 months up to 18 months to match construction or renovation schedules
- Tenant build-outs can be written to include the owner of the premises as an additional insured
Underwriting Notes and Minimum Premiums
Underwriting requires that the owner engage a professional general contractor who carries commercial general liability through an acceptable carrier, with limits at least equal to those provided by this package. The general contractor must name the owner as an additional insured and agree to hold the owner harmless. Minimum premium and final terms vary by state, project scope, and carrier appetite.
Territories and Availability
Available in CT, NJ, NY and PA. Atlantic Risk Specialists places admitted coverage where admitted markets are available; ARS-Latiff provides excess & surplus placement when required. Carriers vary by submission and state.
Why Work With Atlantic Risk Specialists on Owner's Interest Business
As a general agency and E&S broker, Atlantic Risk Specialists/ARS-Latiff blends admitted market access with surplus lines flexibility. Their Owner's Interest package is underwritten for construction and renovation exposures and supports short-term policy periods common to project schedules. You’ll get streamlined placement options for mixed property/liability needs and the ability to pursue higher property limits and excess liability when required.
Example Accounts
- A landlord renovating a two-story mixed-use building who needs property and CGL coverage for a 12-month rehab project and wants the contractor named as required by lease agreements.
- A tenant completing a tenant build-out in a downtown storefront who requires project-specific liability and needs the building owner added as an additional insured.
Frequently Asked Questions
What types of accounts are a good fit for the Owner's Interest Insurance Package?
Owners of vacant properties, buildings under renovation or rehabilitation, new construction projects, and tenants performing build-outs are primary fits. The program is intended for short- to mid-term project exposures where combined property and liability protection is needed.
Is a general contractor required?
Yes. The owner must engage a professional general contractor who carries acceptable commercial general liability insurance. The contractor must name the owner as an additional insured and agree to hold the owner harmless.
What limits and policy terms are available?
Property limits are available up to $8,000,000. CGL limits are available up to $1,000,000/$2,000,000 with excess capacity available. Policy terms range from 3 to 18 months to match project timelines.
Which states are eligible and how is coverage placed?
The program is available in CT, NJ, NY and PA. Atlantic Risk Specialists places admitted coverage where markets allow and uses ARS-Latiff's excess & surplus capabilities when needed. Final placement depends on state rules and carrier appetite.
Need help placing an account? Connect with a market specialist.