For building owners, an often-overlooked benefit to having a third-party asset manager is their ability to spot insurance coverage gaps and hidden pitfalls, as well as understand complexities. Mr. Chuck Thibedeau, President of Realty Management Partners (RMP), believes partnering with clients to navigate insurance policies is vital to the relationship and that going the extra mile is a necessary value-add.
Additionally, commenting on the partnership between an asset manager and insurance agencies, Chuck states, “There’s power in a partnership between the two. As an asset manager, I provide the first line of defense, ensuring policy coverage is sound and addresses any red flags. I know what coverage to look for and can have that conversation with the insurance agent on my client's behalf. An important by-product of this service is improved property value and ethical management aligned with investment goals and financial security.”
This level of due diligence, as a proactive second opinion, ensures clients have the right and complete coverage for their commercial property. “Reviewing policies for clients builds trust because they know that I am aware of what the appropriate coverage for their property should include,” Chuck explains. Risks, inconsistencies, or missing coverage are fixable issues when identified and brought to the insurance agent's attention.
Chuck has long-term, established relationships with several insurance companies and their agents. These trusted partnerships especially benefit the client when a critical matter must be managed on short notice. It’s situations like this when responsiveness is another advantage to having a third-party asset manager involved in insurance policy oversight.
Building owners are encouraged to review their commercial real estate policies and consider the comprehensive support IRR offers to ensure robust insurance coverage and overall asset protection. Essential for peace of mind, a third-party asset manager will ensure you get the most from your insurance policy to protect your investment.
#buildingowners #thirdpartyassetmanager #insurancecoverage #gaps #hiddenpitfalls #insurancepolicy #valueadd #propertyvalue #ethicalmanagement #investmentgoals #financialsecurity #duediligence #secondopinion #insuranceagent #trust #partnership #responsiveness #assetprotection #protectyourinvestement
