Our network of Strategic Industry Partners (SIP’s) have rescued thousands of commercial property owners and multi-family ownership groups from impending financial hardship due to natural disaster losses. Recent storms have produced numerous visible and hidden damages, which can lead to unexpected future failures and repairs. To ensure all damages are properly identified, ownership will likely need a specialist's help.

Key Qualifications of Our Insurance Professionals:

- Licensed Insurance Claims Consultants: Industry certified

- Specialization: Policy review, disaster damage assessment, and remediation protocol

- Experience: 30+ years representing insured property owners

- Insurance Policy Knowledge: Comprehensive understanding of complex requirements

- Construction Industry Expertise: Decades of experience in building and restoring properties

- Network: Extensive connections with industry specialists

- Claims Presentation: All-encompassing approach for proficient claims

- Track Record: Successful resolutions for clients nationwide

- Client Relationships: Enduring and strong

Energies focused on moving forward can get bogged down in the necessary, yet unfamiliar world of insurance claims. The steps you take and their order can mean the difference between a successful insurance recovery and endless frustration.

Before signing off on an insurance claim, let us review the settlement offer to determine whether it addresses all damages. We do this at no cost or obligation to ownership.

Current Concerns for Ownership Groups:

- Inappropriate Replacement Cost Calculations

- Prompt Notice/Reporting Endorsement: Adding limitations/deadlines to one year for coverage

- Increased Wind/Hail Deductible Percentages

- Building Valuation Increases: Leading to higher percentage deductibles

- Deductibles Applied to Total Insurable Value (TIV): Rather than per building limits

- Limited ICC Coverage/Timeframe to Repair

- No Claims Data Coverage: For costs incurred to evaluate your loss

- Cosmetic Exclusion: Limiting coverage

- Timeframe Limitations for Repairs: Converting policy to Actual Cash Value (ACV)

- Roof Surfacing Limitation: Resulting in ACV coverage, sometimes based on roof age

- Roof Replacement Exclusions: Excluding Overhead and Profit (O&P) for contractors

- Green Initiative Endorsements: Limiting ICC coverage for required green replacements

- Wind-Driven Endorsement: Limiting interior damage coverage

- Missing Language in Policy: Reflecting primary coverage of HOA policy

When a loss occurs, insurance companies have a team of experts working on their behalf. We believe policyholders deserve the same benefit.

Before disaster strikes, having appropriate coverage in place minimizes potential repair shortfalls and avoidable surprises related to a lack of funding. LRC’s network will assist by reviewing and making recommendations on policy issues that should be discussed with your broker ahead of the storm.