Overview — Cochrane & Company Lessor's Risk Insurance
The Lessor's Risk Insurance program from Cochrane & Company is designed for insurance agents placing commercial landlord accounts that need both liability and property protection for leased buildings. Buildings do not need to be 100% leased to qualify. Cochrane & Company works through a managing general agency structure and can access a variety of carrier markets to place accounts with non-admitted paper in the states listed below.
Why this coverage is important
This program addresses common exposures landlords face, for example:
- A pedestrian trips and falls on your sidewalk
- Damage to a tenant's personal property because of a leaky roof
- A tenant trips on a dimly lit stairwell due to improper lighting
Coverage highlights and advantages
Property features
- New rate reductions available
- Property coverage written on ISO's broad April 2002 form
- Equipment Breakdown coverage included — and a free boiler inspection where required by jurisdiction
- Special Causes of Loss and Replacement Cost coverage options
- Older buildings are acceptable when submitted with a Functional Building Evaluation endorsement
- Property limits up to $3,000,000 (subject to protection class and tenant occupancy)
Ideal accounts and appetite
This program fits small to mid-sized commercial landlords and owners, including:
- Strip centers, neighborhood shopping centers and single-tenant retail
- Small office buildings and multi-tenant commercial properties
- Mixed-use buildings with commercial tenants
- Owners who need standard landlord liability with property coverage and who may require special endorsements for older structures
Accounts that typically fit: well-maintained properties where tenants can be required to add the landlord as an Additional Insured or assume pavement/curb maintenance. Older buildings can be placed if a Functional Building Evaluation is acceptable to underwriting. High hazard occupancies, large vacant buildings, or properties needing limits or coverages well beyond the stated maximums may not be a fit.
Underwriting notes and minimums
Underwriting is carrier-dependent. Expect the following considerations when submitting:
- Submission of loss history, tenant mix and property photos
- Functional Building Evaluation for older buildings
- Proof of risk management or lease provisions when requesting credits
- Minimum premiums and final terms vary by carrier and exposure — minimum premium: Varies
Territories and filing status
This program is available on a non-admitted basis through Cochrane & Company in the following states: AK, CA, ID, MT, NV, NM, ND, OR, SD, UT, WA, WY. Carriers and availability vary by state and by account specifics.
Why place lessor business with Cochrane & Company
Cochrane & Company offers agents access to multiple carrier options for commercial landlord risks through experienced underwriting at the MGA level. The program combines flexible liability features, property forms that include equipment breakdown, and practical endorsements for older buildings — giving agents solutions for common landlord exposures without forcing 100% occupancy.
Example accounts
- You have a 10,000 sq. ft. neighborhood strip center with mixed retail tenants and a single vacant bay — this program can provide combined property and liability limits with credits if tenants are required to name the landlord as Additional Insured.
- You represent an owner of a small office building with an older roof; the carrier will consider property placement with Equipment Breakdown and Replacement Cost options if a Functional Building Evaluation is included.
For more information about placing Lessor's Risk Insurance with Cochrane & Company, contact your Cochrane underwriting representative or broker support team. Carriers vary by submission.