Page 18 - Jan 2020 Insurance Brokers Spotlight

A DIVISION OF SEEMAN HOLTZ PROPERTY AND CASUALTY, LLC
HOW WOULD YOU DESCRIBE YOUR TARGET CLIENT BASE?
Owners of industrial, commercial and residential properties that need someone familiar with negotiating the insurance and indemnification sections of leases and contracts, someone intimately familiar with special coverages to not only purchase, but to require their tenants to purchase and to “insure” the indemnification clause of the documents are as total and complete as possible. Doing all of that while maintaining competitive premiums to permit the owner
to be competitive with their rentals and to control and complete claims on an ongoing basis.
WHAT IS A NOTEWORTHY TRANSACTION OR PROJECT
THAT YOUR FIRM HAS WORKED ON RECENTLY?
At this time we have been selected to insure one of the largest commercial developments not only in the state, but in the tristate area: Linden Logistics Center. This is a $530 million, 4.1 million-square-foot project. We were chosen because of our ability to provide guidance in the many intricate contracts, insurance coverages modeled for this specific risk and to spec coverage for a $30 million bridge over a railroad.
TELL US ABOUT A CREATIVE SOLUTION THAT YOUR FIRM
PROVIDED TO A REAL ESTATE CLIENT.
Approached by a law firm that had no success in finding someone to insure a $25 million high-rise apartment building in Washington, D.C. that was a nonconforming use
Alan R. Geisenheimer CIC
but, needed to finance a full-value mortgage. The lender would not lend unless either the building could be rebuilt (which it could not) or the insurance company would
pay the full value of the building if destroyed. Working with a specialty insurance company, they issued a policy that would pay the full amount of the policy without the requirement of rebuilding by using an “Agreed Amount Actual Cash” Value limit without depreciation. Loan closed successfully.
WHY SHOULD A CLIENT CHOOSE YOU OVER THE
COMPETITION?
It is my contention if you ask a question of our account executives, they should not tell you they will get right back to you with an answer. It is my belief that our people are among the most talented and should be able to answer almost any question relating to real estate and insurance right then and there. Our experience in this sector is unmatched. For example: If you are still MISTAKENLY taking certificates of insurance as proof of your status as an additional insured, then you need
to speak to us immediately. Those certificates, regardless of what they say, will not confirm your additional insured status.
AT A GLANCE...
HEADQUARTERS: 299 Market St., Suite 200, Saddle Brook, NJ 07663
YEAR FOUNDED: 1972
TOTAL NUMBER OF NEW JERSEY EMPLOYEES: 14 TOTAL NUMBER OF NEW JERSEY-BASED BROKERS: 6
AREAS OF EXPERTISE IN REAL ESTATE: Commercial, Industrial, Habitational, Construction, Leases and Contracts
Clifton Riverfront Center
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