1 May, 2019
Atlanta, GA – Rhodes Risk Advisors, an Atlanta based commercial property and casualty insurance brokerage, closed another successful quarter continuing the momentum from the largest growth year in company history during 2018. Success continued within the Real Estate vertical, but Rhodes also saw significant growth and new client additions within the entirety of its industry specializations.
Highlights from the First Quarter of 2019 Include:
Real Estate & Multifamily
Rhodes secured new coverage for a 150 unit multifamily property in Savannah, GA. In addition to achieving 20% cost savings, the multifamily team negotiated with the lender to arrange a more favorable deductible structure as well as creating a master flood policy for all buildings.
Builders Risk coverage was placed for ground up frame construction of multifamily units in the Metro Atlanta area. This coverage was placed through a proprietary master builders risk policy created specifically to suit this client’s operations.
Another new client addition was a 16 property portfolio consisting of commercial office space, retail shopping centers, and apartment dwellings. Based in Mableton, GA but with operations across the Southeast Rhodes created a master portfolio to streamline insurance operations.
Coverage was also placed for a multifamily development located in South Carolina consisting of 100 units and $7.5M TIV. Coastal program expertise was utilized for favorable rating despite a volatile coastal property market.
Film & Entertainment
Management Liability & Media coverage was secured for one of the largest film studios in the Atlanta area. Comprehensive coverage included D&O, EPL, Fiduciary, Media, and Cyber Liability. These additional lines completed the comprehensive risk management solution crafted for this client.
All lines of coverage were placed for a full-service event production and design company specializing in audio, video, lighting, and special effects. Based in the Atlanta area but serving the entire Southeast Rhodes utilized specific industry expertise to lower pricing and expand coverage.
Rhodes provided all lines of coverage for a new client with a hotel portfolio located in Alabama and Georgia consisting of 12 locations and 700 keys. Rhodes was able to bring together all properties and policies into one master portfolio, provide costs savings, and optimize the client’s risk management operations.
Additionally in the hospitality sector, all lines of coverage were placed for a linen service and supply company. Based in Acworth, this new client has distribution channels throughout the Southeast. Significant cost savings were provided on their program, including over 20% on Workers Compensation.
Aviation & Transportation
Coverage was secured for a King Air 300 serving a real estate development company in South Carolina. Rhodes Aviation team was able to streamline the pilot warranty to provide increased flexibility, as well as increase liability limits even with single pilot operations.
Another aviation highlight was securing coverage for a new purchase owner flown specialty aircraft. The high net worth owner was new to aviation, and Rhodes assisted in all facets of the acquisition including negotiating favorable finance terms with the lender.
Coverage was placed for an international non-profit organization operating a yacht for medical missions in the Caribbean. Rhodes utilized not only their transportation vertical expertise, but also international market capabilities to streamline coverage for the operation.
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.