5 November, 2020
Atlanta, GA– Rhodes Risk Advisors, an Atlanta based commercial property and casualty insurance brokerage, closed the third quarter of 2020 with multiple new client additions across its industry specializations. 2020 has presented unique challenges for our client base, and Rhodes has worked to ensure their operational success in a unique environment. As the year has progressed, we have seen an increase in activity and Rhodes is pleased to have welcomed numerous new clients in support of their portfolio growth. From helping our clients navigate the operational challenges at the onset of the year, proactively addressing and handling claims during a higher-than-average storm season, and now seeing our clients transactional activity increase, we hope the momentum of the quarter will continue to lead to mutual success for both our organization and our client base.
Industry Vertical Highlights from the last three months include:
Real Estate & Multifamily
Rhodes placed the insurance for a new client’s acquisition of a Multifamily development located in McDonough, GA consisting of 500 units with over $62M Total Insurable Value (TIV).
New client addition of a Multifamily complex in Bluffton, SC, consisting of 248 units and over $36M in TIV. Rhodes utilized unique coastal market access to provide cost savings on the program.
Property, Liability, & Umbrella coverage were placed for a Multifamily development located in Kennesaw, GA, which included 236 units and over $29M in TIV. Rhodes was able to provide savings versus the in-place portfolio program.
Permanent insurance coverage was placed on a new Multifamily complex located in Grayson, GA having 234 units and $26M in TIV. Rhodes helped the client transition from Builders Risk coverage to permanent insurance by negotiating coverage commencement prior to gaining certificate of occupancy on all buildings.
Coverage was placed for a new client’s acquisition of a Multifamily complex in Rockford, IL, which included 162 units and $22M in TIV.
Rhodes placed coverage for a new client’s Multifamily complex in Augusta, GA, including 165 units and over $12M in TIV.
Construction and Real Estate Development:
Rhodes successfully placed all lines of coverage for a residential developer and contractor based in Georgia, including General Liability, Workers Compensation, Builders Risk coverages.
Coverage was placed for an existing client’s conversion project of 260,000 sq. feet of warehouse space located in Charlotte, NC into a mixed-use space that will include office, retail, restaurant and showroom occupancies. TIV for the project exceeds $57M.
The Rhodes Aviation team had their largest new business quarter to date, placing coverage for over 20 aircraft ranging from large cabin jets to historic warbirds.
Rhodes placed multiple lines of coverage for a corporate aircraft management and charter company based in Pittsburgh, PA. This new client is a market leader in the charter space, having a fleet of aircraft totaling over $33M in values consisting of mid to large cabin size aircraft. Additional lines of coverage placed for this client included an FBO General Liability policy as well associated Flight School consisting of eight aircraft.
Additionally, Rhodes secured coverage for a new aviation client consisting of three mid-size cabin corporate jet aircraft based out of Atlanta, GA for industrial aid use. Rhodes utilized their extensive aviation market access to provide cost savings amidst a turbulent aviation premium landscape.
Rhodes placed the complete Employee Benefits package for a diversified holding company consisting of over 400 lives enrolled. Rhodes was able to leverage exclusive program and partner access to provide cost savings and streamline operations for this multi-state client.
About Rhodes Risk Advisors: Rhodes Risk Advisors exists to protect their clients using the most innovative and comprehensive risk management solutions allowing them to focus on the continued success of their business. Based in Atlanta, GA, Rhodes provides property and casualty insurance brokerage and consulting services to middle market businesses. Rhodes specializes in providing unique and comprehensive insurance solutions to the Real Estate, Non-Profit, Construction, Film and Entertainment, Technology, Hospitality, Aviation, and Professional and Financial Service industries.