Overview of the Program From Preferred Concepts
Property managers face a range of liability risks when contractual duties, maintenance standards, fund handling, or tenant relations are disputed. This program is designed to respond to those exposures with flexible professional liability, D&O, and EPL solutions that can be tailored to the client’s operations and contractual scope of services.
Mercator works exclusively through insurance professionals and can often begin underwriting from an existing application (excluding renewal applications). If needed, they will supply a focused application to capture the details relevant to property management risks.
Ideal Accounts and Appetite
This program fits many real estate service providers, 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 accepts hard-to-place and distressed accounts — including firms with prior claims or financial challenges — making this a viable option when standard markets have declined a submission.
Coverage Highlights and Advantages
Available coverages depend on the insured’s operations and exposures, but commonly include:
- Professional Liability (Errors & Omissions)
- Directors & Officers Liability
- Employment Practices Liability
Coverage can be tailored to the contractual definition of property management services, allowing you to align limits and terms with the client’s actual duties and risk profile.
Underwriting Notes and Application Process
Underwriting is experienced with non-standard and distressed risks. Mercator can usually accept your standard application (not a renewal app) to begin review, or provide a specialized application for more complex operations. Be prepared to provide details on contracts, tenant dispute history, prior claims, and financial controls for funds-management roles.
Territories and Availability
This program is offered on a non-admitted basis through various carriers and is available 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
Preferred Concepts partners with Mercator to offer deep expertise in professional liability for real estate-related businesses. Their strengths include flexible underwriting, access to multiple non-admitted markets, and a willingness to consider accounts other markets may decline. That combination helps you place both straightforward and challenging property management risks.
Example scenarios you might submit: a small regional manager facing a tenant dispute over maintenance standards, or a property management firm with a prior E&O claim seeking primary professional liability and EPL protection. Both are the types of accounts Mercator will evaluate.
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.