Dougherty Insurance Agency LLC Innovative Financial Solutions Nationwide

A Landlord’s Alternative to Security DEPOSIT from AssureLease™

AssureLease, LLC’s landlord-controlled insurance and risk management programs replace traditional security deposits which results in immediate cost savings and benefits. The 2 available structures are a single captive (portfolios >3,000 units) and “LATS” (Landlord Alternative to Security Deposit), a reciprocal captive insurance company in which smaller landlords (300-3,000 units) become a member.

Both captive structure and solutions:

  1. Aggregate the risks associated with tenant default (lost rent, damages, legal expenses) to create a new profit center for landlords (subscribers) from what has historically been a cost center.
  2. Eliminate headaches associated with collection and management of deposits, as well as the deposit’s barrier to entry for the Tenant.
  3. Aggregate funding, thus eliminating the negative impact of a minority of defaulting Tenants exceeding their deposits held.

Program Manager - AssureLease LLC, New York, NY
AssureLease created the concept of a landlord-controlled Insurance based structure to utilize in lieu of taking traditional security deposits and, through its proprietary underwriting models, is the only company to offer this type of coverage today

Insurer - Insurance Company Rated A - Excellent - XI
A global specialty insurer providing a diversified range of property, casualty and specialty insurance products to customers worldwide.

Wholesaler - RT Specialty, Kansas City, MO
RT Specialty is a leading wholesale distributor of specialty insurance products and services.

Legal Counsel - Primmer Piper Eggleston & Cramer, Montpelier, VT
Primmer & Piper is a recognized law firm specializing in the captive industry.

Tax and Audit - Crowe Horwath International, LLP, Burlington, VT
An international accounting firm, their Vermont office specializes in tax and audit services for the captive industry and especially reciprocals.

TRANSFER RETAIN INCREASE REDUCE
Impact on the Four Quadrants of Risk
Operational
  • Reduces Administrative Costs
  • Reduces tenant litigation and recovery actions
  • Reduces “negative” tenant interaction
Financial
  • Increases portfolio valuation through elimination of negative impact to NOI
  • Eliminates potential “bad claim” scenario
  • Eliminates a costly barrier of entry to the tenant
Strategic
  • Increases Occupancy
  • Increases roll over rate
  • Creates a “differentiation”
  • Enlarges potential tenant pool
  • No Tenant “privity” of contract
Insurable
  • Transfers known risk
  • Protects balance sheet
  • Allows for expense smoothing
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All risks will be underwritten to determine acceptability for either program.