A real estate owner/manager/operator principally of marinas was in significant growth mode.  Their portfolio consisted of both lakefront and coastal marina properties, each providing an umbrella of services including housing, restaurants, and complete recreational facilities.  The company’s recent loss history was mostly attributable to weather-related property damage. Their broker and insurer had recently advised them that their insurance premiums and deductibles would both be increasing, and their coverage would be restricted with reduced limits and coverage terms while settling the outstanding damage claims.  The reserves on outstanding claims continued to impact the company’s loss experience, giving the insurer more leverage to push premiums higher and reducing the company’s negotiating power. Their policy renewal was just four months away.


The UIC, Inc. Process and Mantra:  AUDIT | MITIGATE | NEGOTIATE | MANAGE

The senior management for the marina company extensively vetted UIC, Inc. for our overall risk management experience, as well as our expertise with special-interest real estate.  According to the Association of Marina Industries (AMI), most of the approximately 14,500 US marinas lack adequate risk management processes, and this client wanted to be at the forefront of establishing a set of best practices to address the most common risk exposures at marinas.  First and foremost, their goal was to mitigate any premium increases. Second, the company wanted to shore up any structural issues to their overall risk management program without exceeding their original budget, to allow them the financial flexibility to acquire more properties.


UIC, Inc. performed an independent risk management audit, and was provided complete access to senior management and all appropriate information.  Our team not only reviewed the breadth and depth of insurance coverage in place, but also interviewed senior management on the existing procedures in place for all properties focusing on operational safety, loss prevention, and loss control.  UIC, Inc. outlined several issues concerning inconsistent coverage, and pointed out several small fractures in their existing risk management structure. We proposed a detailed shift in their risk management strategy, specifically designed to achieve their goals within the existing budget.


The proposed shift in risk management strategy received the full support of senior management, but the incumbent broker and insurer were not convinced.  They were not in favor of the structural changes we proposed, and they were uncooperative during the audit.


UIC, Inc. implemented the agreed-upon strategy, corrected coverage inefficiencies, and implemented a robust and cost-effective risk management program.  Our plan not only mitigated the rationale for a premium increase, but also reaped the client an annual financial savings of 15%-40%. The new strategy not only garnered broader coverage, but also allowed the company more flexibility, which was a distinct competitive advantage in the race to accelerate growth and acquire more waterfront properties.

The UIC, Inc. team’s expertise in real estate operations meant our understanding of market conditions and risk appetite gave our client a distinct advantage not only when renewing their partnership with the incumbent broker and insurer, but also in besting their real estate competitors at the negotiating table.  Their streamlined risk management infrastructure was an asset that few could compete with.


With UIC, Inc.’s involvement, the following results were realized:

  • The company’s redundant and gapped insurance program was solved through the design and negotiation of master contracts, providing seamless coverage over their diverse portfolio of properties.
  • Annual premium savings of up to 40% annually was achieved, while simultaneously improving coverage across the board.
  • Recognition of the company’s need to continue it’s accelerated growth.  UIC, Inc. worked with senior management to maintain a flexibility in coverage that would address each new property’s needs, while instituting a consistent structure to the overall risk management program to maintain operational safety, loss prevention, and loss control across the portfolio of properties.


UIC, Inc. worked with company’s senior management to effectively notify and educate all personnel at the individual properties of the new insurance programs in place, establishing effective risk control protocols and claims safety and notification practices.

UIC, Inc. continued to serve the company well past renewal on all required matters, including claims representation, contract review and implementation, and overall risk advisory, all of which led to hard and soft savings in future years.

See How UIC, Inc. can help you.

UIC, Inc. is not affiliated with any brokers, nor holds any agreements with insurers.  This affords us the objectivity to provide advice for the sole benefit of our clients. Our depth of knowledge and innovative solutions provide our wide variety of clients with comprehensive, cost effective, yet flexible risk management programs for their specific needs.  UIC, Inc.’s annual insurance consulting retainers, our only source of income, consistently help clients achieve insurance premium savings averaging 25%-40%, offering significant ROI while at the same time providing appropriate insurance coverage for each company’s specific needs and risk profile.  Schedule your complimentary risk management audit with UCI, Inc. now.

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