JMBI is dedicated to our clients’ success. Our expertise, insights and focused action are fundamental to delivering real results for your business.
Read our client success stories to see how we help clients reach their goals and maximize financial and operational performance.
Prospect Needs Immediate Coverage on Residential Builders Risk
JMBI works closely with other advisors who are seeking insight and personalized attention for their clients. A financial advisor recently contacted us with an urgent need for their VIP client. The client was about to break ground on a home construction project and needed assistance placing residential builder’s risk/course of construction coverage. The client’s existing broker was unresponsive increasing the client’s exposure and potentially delaying the project.
JMBI’s experience in residential builders risk coverage means we understood the clients’ exposure during a construction project. We empathized with the need for speed as work was scheduled to begin and deliveries en route. The timeline was compressed by a national holiday and limited access to current insurance documents. We had existing relationships with the underwriters and our experience allowed us to anticipate the information required and the best execution plan.
We worked with the client and current insurance carrier to move the existing policies to JMBI as the Broker of Record. This provided the proper leverage to add the new policy for the builders risk coverage in time for the project to start. Our strong relationship with the existing insurance carrier and underwriters enabled us to place the coverage in a short time frame and access the necessary documents.
We were able to extricate the client from a bad situation placing coverage for a difficult risk in time for the construction to start on schedule. Both the client and the financial advisor noted how the situation went from dire and frustrating to well-managed and focused on risk management and solving the problem.