28 May, 2020

Rhodes Helps Clients Navigate Unprecedented Landscape In First Half of 2020

Atlanta, GA – The first half of 2020 has proven to be an unprecedented environment for our client community and the world around us. Rhodes Risk Advisors, their clients, and their community have been forced to adapt to continue operational success in a challenging and unique landscape. Rhodes Risk Advisors views the risk management process with a holistic and consultative approach outside of simply the insurance transaction, which has been critical throughout the past few months. Given the unique challenges facing their clients, Rhodes Enterprise Risk Management approach has sought creativity in addressing their clients’ various needs.

Rhodes has worked hand in hand with clients to create a safe workplace, navigate corporate responsibilities to their workforce and customers, as well as prepare for business continuity up to and after returning to normal operations. Additionally, Rhodes has conducted comprehensive portfolio reviews to see where clients can reduce exposures and develop flexible payment options with insurance carriers. The Rhodes Claims team has prepared strategies for clients to proactively submit and be best positioned for any potential loss recoveries. Striving to reduce the overall cost of risk is paramount, especially during these periods of such ambiguity and uncertainty.

At the same time, many of their clients have remained active in the acquisition and growth spaces of their operations. With an adaptive method of conducting business, Rhodes is pleased to welcome the addition of new clients and support portfolio growth within their current client base.

Industry Vertical Highlights Over the Last Three Months Include:

Real Estate & Multifamily

New Client Relationships:

  • Multifamily portfolio throughout Georgia & Tennessee, transaction consisted of over $104M in TIV and 1,000+ Units
  • Family owned commercial real estate portfolio consisting of habitational, retail, and distribution facilities located throughout Georgia and Florida
  • Multifamily portfolio acquisition with $98M in TIV and 1,130 units located throughout the Midwest
  • Acquisition of a 300 unit, $37M TIV Multifamily property located in Dallas, TX

Existing Client Growth:

  • Acquisition of a $29M office building located in Orlando, FL
  • Two multifamily properties located in the suburban Atlanta area totaling 254 units and $24M in TIV
  • Metro Atlanta 312 unit apartment complex with a TIV of $30M

Construction & Real Estate Development

Builders Risk coverage was placed on multiple construction projects that closed and are breaking ground with aggregate construction costs north of $100M in Georgia and South Carolina, including:

  • $38M Project in Dawsonville, GA consisting of over 240 units
  • $36M Project for a new apartment community in Charleston, SC
  • $28M Project on new apartment community in McDonough, GA

 

Hospitality

All lines of coverage were placed for a new client relationship in the linen services and distribution space having multiple locations throughout Alabama and Georgia. Utilizing dedicated industry expertise and carrier access, the program provided the client streamlined coverage coupled with cost savings.

Aviation

Amidst a hardening aviation insurance marketplace, the Rhodes Aviation team added three new corporate multi-engine placements to their portfolio within the last month.

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.

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