22 October, 2019
Atlanta, GA – Rhodes Risk Advisors, an Atlanta based commercial property and casualty insurance brokerage, successfully closed Q3 by leveraging industry specialization and strong carrier relationships that resulted in optimal solutions for numerous new client relationships. Mike Davis, Managing Partner of RRA, emphasized “We are always eager to help our new and existing clients navigate the insurance marketplace by solving existing problems and bringing solutions to the table through our expertise in their respective industries. The success in the Third Quarter showcased exactly that, especially in what many consider to be a transitional insurance market.”
Highlights from the Third Quarter of 2019 Include:
Real Estate Practice
Rhodes secured coverage for a new client with three multifamily properties totaling over $81M in TIV and 1,200 units. With exposure in TX & FL, Rhodes utilized their expertise in coastal multifamily programs & their portfolio leverage to find cost savings during a volatile property and liability market in Florida.
New coverage was acquired for a multi-location, multifamily development group consisting of over $40M in TIV and 520 units, with exposure in the greater Metro Atlanta area.
Permanent insurance was secured for a Rhodes client who completed a mixed-use development located in Birmingham, AL consisting of over 140,000 SF of retail space, including several restaurants and 60 apartment units. This was the culmination of a risk management program that served the client from the initial stages of development, through completion of the project, and ultimately into ongoing operations.
Rhodes successfully competed on a new construction multifamily property with mixed use exposure based in Decatur, GA. This location consisted of over $27M in TIV with 200 units, retail space, & associated parking garage.
The Real Estate practice also grew in Q3 through the new placement of all lines of insurance for an outdoor retail & entertainment shopping center located in Louisville, KY. The property consisted of over $29M in TIV.
In the construction practice, Builder’s Risk coverage was secured for a new construction multifamily complex in Marietta, GA with project costs of $24M.
Builder’s risk coverage was also secured for an existing multifamily client with a $20M new construction project of 55 units.
Rhodes placed a new line of coverage for an existing client with over 10 hotel locations in Alabama & Georgia. The liquor liability policy streamlined numerous single policies into a consolidated program simplifying their risk management operation.
Another new client addition featured all lines of coverage for a liquor and wine store located in Northwest Atlanta.
Film & Entertainment
After extensive diligence in the Workers Compensation marketplace due to some unique exposures, Rhodes successfully implemented a new Workers Compensation program for a California client specializing in payroll and associated administrative services within the film & entertainment industry. The company has operations in over 30 states and Rhodes was able to leverage their expertise and the company’s growth to create a streamlined workers compensation program enabling operational efficiencies.
To close the Third Quarter, Rhodes was excited to welcome a new manufacturing client and placed all lines of coverage for a 70+ employee tool & dye manufacturer located in Conyers, GA. Aside from the Property, General Liability, & Umbrella, Rhodes was also able to obtain the Workers Compensation, Cyber, Auto, and Employment Practices Liability coverage. Through coverage gap identification & claims advocacy Rhodes was able to enhance the risk management offering while reducing total premium spend for their 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.