The client managed a portfolio of high-vacancy apartment buildings, some of which lacked critical coverage due to a vacancy exclusion clause. They were unaware that this exclusion left several properties exposed to significant risks.
The client’s multi-family residential properties had pools that were excluded from liability coverage under their general liability policy. This left the properties exposed to significant financial risk from potential pool-related accidents.
The client’s insurance application contained incomplete and incorrect tenant information, leading to material misrepresentation. This resulted in limited coverage despite paying over $180,000 annually in premiums.
A real estate credit lender faced significant financial harm when a building was insured for half of its actual replacement cost. This gap in coverage resulted in a $900K reduction in fund performance.
