Restoring and revitalizing with Property & Inland Marine
“Built on Relationships. Focused on Solutions” is not just Property & Inland Marine’s tagline, but its driving philosophy. The strong relationships that employees have built with agency professionals have led to connections with their insureds. Learn how these types of relationships have helped the Division make an impact in Cincinnati and other cities through insuring construction projects that are restoring historic building and structures while revitalizing the surrounding communities.
Collaboration with Model Group and Assured Partners in Cincinnati
For the past five years, Property & Inland Marine has teamed up with the Model Group and Assured Partners agency to support the Model Group's revitalization projects. The Model Group is an industry leader in property development and commercial construction in Greater Cincinnati and works to positively transform communities by revitalizing vacant and urban blocks into high quality mixed-use communities.
“We have built a great relationship with our agents at Assured Partners over the years. They helped us connect with and build a strong relationship with our insured, the Model Group,” said Adam Billiter, Divisional Assistant Vice President, Property & Inland Marine. "The Model Group's work is not easy, but you can see the positive impact it has made to the Cincinnati downtown area. Our agents and insureds have helped educate us about restoring and preserving historical buildings and given us the confidence and knowledge in insuring their work."
Model Group projects around Findlay Market and Over-the-Rhine have revitalized downtown Cincinnati's living and economy, which has brought new life to these formerly abandoned areas. P&IM has taken a unique approach to each project, collaborating with product line experts and claims in over 100 projects with the Model Group since 2018.
"When we get to know our insureds, it's easier to provide solutions. Especially when it is right here in our own backyard," said Julie Kadnar, Divisional President, Property & Inland Marine. "We have a great sense of pride being able to support the Model Group's work in taking the utmost care to protect and preserve our city's historic buildings and helping improve the community. Through Model Group, our Division has found an impactful way to fulfill its philosophy to build relationships and focus on solutions."
Making a difference with MDP Programs and National Trust Insurance Services, LLC
Historic buildings offer a unique glimpse of the past and preserve a period in time. Learn how Property & Inland Marine is working with MDP Programs to help ensure the preservation and rehabilitation of these structures while maintaining their historic significance.
MDP Programs and National Trust Insurance Services, LLC (NTIS), divisions of the insurance agency Maury, Donnelly & Parr, Inc. (MDP), provide risk management and insurance solutions for historic properties. They began working with Property & Inland Marine in 2013, writing Historic Property with Historic Tax Credit Coverage. Property & Inland Marine recently extended their business relationship with MDP/NTIS to writing Builders’ Risk Renovation Projects with Historic Tax Credit Coverage.
Historic Tax Credit Insurance is designed to help protect property owners and developers against the potential loss or recapture of the Historic Tax Credit. A recapture event can cause a building to no longer qualify for the Credit, including damage changing the significance and structure of the property.
"In working with Great American Insurance Company, an A+ Rated Admitted insurer, we believe we can provide the best sense of security to historic rehabilitation projects and the project investors providing the business assets,” said Paul LaVardera, Senior Vice President of MDP.
“Combining our underwriting and Builders’ Risk product expertise with MDP/NTIS’ historic property expertise, presents us with a unique opportunity to be the premier carrier for Historic Property Renovation Projects,” said Tom Lipford, Business Development Specialist, Property & Inland Marine. “This relationship will provide us with beneficial opportunities, such as top carrier name recognition and high-volume premium growth. We are extremely excited to work together in this new program endeavor. To our knowledge, this is the only program of this nature, and Great American and MDP/NTIS are at the forefront of the preservation frontier.”
Read the full press release of the program highlights and relationship here.