Real Estate Owner Developers

Tailored industry coverage

 

Why purchase tailored coverage?

Many A&E forms are not adequately designed to cover the vast array of exposures faced by a real estate developer that can arise from a multitude of venues. We provide tailor made protection for Real Estate Professionals and Owner Developers for professional liability exposures through all phases of acquisition, construction, operations and divestiture.

 

Coverage & Benefits
  • Real Estate Services Coverage for:

    • Misrepresentation in the course of your sales, leasing and property management services
    • Failure to disclose material information about a property
    • Tenant allegations of wrongful eviction, wrongful entry, mismanagement of security deposits, etc.
    • Allegations of discriminatory business practices, including fair housing act violations
    • Allegations of violations of rent stabilization or control statutes
  • Construction and Development Coverage for:

    • Construction management, project management and owner’s representative services performed by the Insured on owned or non-owned properties
    • Developers own financial loss (including project cost overruns and delay related loss of use) arising out of subcontracted design errors
    • Acts, errors or omissions of the Insured’s construction subconsultants
    • Allegations of discriminatory business practices, including fair housing act violations
    • Pollution liability arising out of a contractors construction activities
Appetite & Capacity
  • Commercial, residential and industrial real estate developers and project owners
  • Real estate professionals who also do some construction management
  • Capacity: Up to $10m
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Claims scenarios 

Not sure what risks our tailored Real Estate Owner/ Developers Form covers? We’ve brought some scenarios to life.

Project owner/developer

A family member of an employee who died while working for a general contractor on a construction site sues the project owner/developer. The allegations are: the owner/developer severely limited site access, failed to coordinate the activities of multiple contractors on the site, and issued defective contract documents which failed to properly sequence construction activities.

Project owner/developer

A family member of an employee who died while working for a general contractor on a construction site sues the project owner/developer. The allegations are: the owner/developer severely limited site access, failed to coordinate the activities of multiple contractors on the site, and issued defective contract documents which failed to properly sequence construction activities.

Developer

A condominium owner brings a claim against the developer and the architect for a design error. The architect cannot be located and the architect’s insurance has lapsed. The suit continues against the developer.

Developer

A condominium owner brings a claim against the developer and the architect for a design error. The architect cannot be located and the architect’s insurance has lapsed. The suit continues against the developer.

Project owner/developer

An adjacent property owner sues the project owner/developer for property damage and consequential damages due to negligent construction operations, including alleged ‘design errors and omissions’ of the owner’s design professional.

Project owner/developer

An adjacent property owner sues the project owner/developer for property damage and consequential damages due to negligent construction operations, including alleged ‘design errors and omissions’ of the owner’s design professional.