300+ Properties..HELP ME!

[insurance1822]

OK I NEED HELP.

I have an insured who owns hundreds of properties & I insure many of them. I have the property & GL secured & I constantly push XS Umbrella polices on him in writing to cover my ass.

This guy now has funds that he raises money for & he literally has $50,000,000 under management. The fund buys/sells/rehabs/rents these properties and pays out investors etc.

Does this guy need D&O coverage? Is there any professional liability I'm missing here that should be quoted? If this fund tanks...what insurance should be in place for this guy? I mean he has like 100 LLC's & attorney's have most likely secured him BUT i'm in a zone I haven't been in before. I need to be aware of what i dont know.

 

[todd02]

OK I NEED HELP.

I have an insured who owns hundreds of properties & I insure many of them. I have the property & GL secured & I constantly push XS Umbrella polices on him in writing to cover my ass.

This guy now has funds that he raises money for & he literally has $50,000,000 under management. The fund buys/sells/rehabs/rents these properties and pays out investors etc.

Does this guy need D&O coverage? Is there any professional liability I'm missing here that should be quoted? If this fund tanks...what insurance should be in place for this guy? I mean he has like 100 LLC's & attorney's have most likely secured him BUT i'm in a zone I haven't been in before. I need to be aware of what i dont know.

You answered the question yourself. He already had his attorneys protect assets under management by using tax shelters and llc's. I'd suggest a huge life insurance policy to cover expenses and possible estate taxes. If he has a partner do key man life.

 

[agentinsouth]

You answered the question yourself. He already had his attorneys protect assets under management by using tax shelters and llc's. I'd suggest a huge life insurance policy to cover expenses and possible estate taxes. If he has a partner do key man life.

Agreed- I would also go meet this attorney to confirm that he likes what you have done. Then document the meeting in your management system to cover your rear incase of an E&O claim.