Page 8 - Jan 2020 Insurance Brokers Spotlight

HOW WOULD YOU DESCRIBE YOUR TARGET CLIENT BASE?
Privately owned, operating in NJ and NY, and interested in partnering with a trusted advisor to reduce the cost
of risk through optimal coverage and claims experience. Our clients and prospective clients are architectural and engineering firms, developers and construction managers, and real estate owners and managers.
WHY SHOULD A CLIENT CHOOSE YOU OVER THE
COMPETITION?
Our clients choose WHC over the competition because we prioritize integrity and customer service above all else,
and we provide the best insurance products at competitive prices, as well as a host of truly valuable claims and risk management services at no additional cost. We have been providing these services for nearly seventy years. We regard each of our clients as unique and serve them with utmost attention and professionalism, and we take great pride in the long-standing relationships we have with them.
WHAT INSURANCE COVERAGE TRENDS DO YOU SEE
IMPACTING THE REAL ESTATE SECTOR?
Insurance rates are increasing in all industries, including the real estate sector, as we enter a hard market driven by
William H. Connolly Jr., CPCU President & CEO
catastrophic property losses and higher liability settlements throughout the country over the past several years. Risks in coastal, high wind or wildfire prone areas will be especially challenged by increased premiums and limited availability of adequate coverage. We also see that, as the real estate industry incorporates IoT, Cyber and Professional liability coverage need to be a part of an organization’s insurance portfolio and risk management strategy. Mixed-use properties, smart buildings and lifestyle centers are among the trends redefining the commercial real estate market; delivering the space today’s tenants expect while protecting your operations means addressing traditional and emerging risks in a hardening insurance marketplace.
AT A GLANCE...
HEADQUARTERS: 56 Park St., Montclair, NJ 07042 YEAR FOUNDED: 1950
TOTAL NUMBER OF NEW JERSEY EMPLOYEES: 65 TOTAL NUMBER OF NEW JERSEY-BASED BROKERS: 46
AREAS OF EXPERTISE IN REAL ESTATE: Traditional
and alternative insurance placement as well as risk management programs that include claims analysis, advocacy and assistance; legal referrals for coverage disputes; safety committee program development; disaster contingency planning; risk management education; loss control engineering; contract reviews; and mergers and acquisitions services including due diligence.
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