17 July, 2019
Atlanta, GA – Rhodes Risk Advisors, an Atlanta based commercial property and casualty insurance brokerage experienced their largest new business growth quarter in company history, eclipsing the 2018 Q2 mark by nearly 10%. The 2nd Quarter of 2019 was led by the Real Estate & Construction practice, but also had numerous additions across the other industry specialization practice areas. “We are extremely proud of our new client engagements in 2019,” commented Mike Davis, Managing Partner of Rhodes Risk Advisors. “It is a direct reflection of the hard work and ability to provide industry specific solutions that have allowed our brokerage teams and client service staff success amidst the competitive environment in our industry.” Coming off the highest historic growth year in 2018, the first half of 2019 has reinforced prior year momentum projecting towards an even higher year on year result.
Highlights from the Second Quarter of 2019 Include:
Real Estate & Construction
The marquee new client addition of the quarter was a master policy solution provided for a 15-location multifamily real estate investment portfolio. With properties in GA, NC, SC, & FL the portfolio consisted of 4,300+ units and $322M in TIV. With both coastal and non-coastal exposures, Rhodes utilized a multi carrier approach to provide a comprehensive property, liability, umbrella, flood, and pollution program. This program tied together numerous policies into a streamlined placement, utilizing portfolio leverage for cost savings while creating operational efficiency for the insured.
Additionally, coverage for a new multifamily client was secured with 5 locations across Boca Raton, Tampa, and Orlando. With $103M in TIV and over 1,200+ units, cost savings was provided amidst a somewhat volatile Florida property and liability market.
In the construction practice, Builders Risk coverage was secured for a $65M mixed use development project in Atlanta which will include apartments, townhomes, restaurants, office space, and a hotel.
Rhodes also placed Builders Risk coverage for the General Contractor on a project with a term of 18 months, $19M of cost, and totaling 147 units. Due to Rhodes expertise in the construction arena, this was another example of providing cost savings to both sides of the transaction while streamlining the project initiation.
In the technology vertical a new client win was the placement of all lines of coverage for a government contractor providing telecommunications and managed services. Rhodes leveraged technical market expertise to build a towered professional and general liability structure. This was significant as it satisfied the high limits required by nature of the contracts in the government vendor space.
Film & Entertainment
New client additions within the film & entertainment sector included an Atlanta based urban film production company. Rhodes placed all property and liability coverages relating to their sound stage division, further enhancing the company’s ability to expand their offerings.
Rhodes aviation team placed coverage for a first-time aircraft owner and veteran’s warbird purchase. All aspects of the transaction were serviced, starting with navigating the finance structure all the way through to the training outline for pilot transition.
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.