CIC Services & ePremium join forces on tenant liability programme
CIC Services has launched PortfolioVantage, a tenant legal liability programme that helps qualified property owners turn coverage for tenant-caused damage into the foundation of a broader captive insurance strategy.
PortfolioVantage combines CIC Services’ captive insurance formation and management expertise with ePremium’s technology for tenant enrolment, compliance tracking and coverage monitoring. Together, these capabilities allow property owners to administer tenant legal liability coverage across their portfolios while potentially retaining underwriting profit through an insurance company they own.
“Tenant legal liability is often treated as a standalone product, but it can create a much larger opportunity for qualified property owners,” said Bryan Ridgway, ACI, principal and chief operating officer of CIC Services. “PortfolioVantage gives property organisations a way to protect against tenant-caused damage, retain more of the financial value created by the program and build an insurance strategy that can grow with their business.”
Property owners commonly require tenants or residents to maintain liability coverage for damage they may cause to a building. Under a conventional program, the outside insurer generally retains the underwriting profit when premiums exceed eligible claims and expenses.
According to CIC Services PortfolioVantage takes a different approach. Tenant legal liability coverage is placed within a captive insurance company established for the participating property organisation. After eligible claims and program expenses, the captive may retain underwriting profit that would otherwise remain with an outside insurer.
ePremium provides the technology infrastructure needed to support the program across participating properties. Its platform helps property teams manage enrolment, identify missing or lapsed coverage, track compliance and maintain portfolio-wide visibility. Integration with property management systems also helps streamline administration as portfolios, unit counts and resident populations grow.
“Technology is essential when a program must operate consistently across an entire portfolio,” Ridgway said. “ePremium provides the administrative infrastructure, while CIC Services provides the captive strategy, formation, compliance and long-term management. That combination allows property owners to pursue an opportunity that extends well beyond tenant liability coverage.”
CIC Services added that as the captive develops the company can help the organisation evaluate additional risks that may be appropriate to finance through the captive. These could include property deductibles, cyber liability, employment practices liability, equipment breakdown and other qualified property and casualty exposures.
PortfolioVantage is designed for qualified owners, operators and managers of multifamily, single-family rental and commercial properties. CIC Services begins with a feasibility review to determine whether the organisation’s portfolio, premium potential, loss history and long-term objectives support a captive insurance strategy.
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