Risk mitigation and insurance

Rising insurance premiums are a common pain point for building owners - some spiking more than 200% upon renewal. While it may feel like these expenses are out of your control, FirstService Residential has helped hundreds of clients secure adequate policies with preferable terms and pricing, without hidden exclusions that nullify coverage. This has saved our clients millions of dollars that can now be reinvested in their property.
 

FS Insurance Brokers | Our affiliated insurance brokerage

Making sure your property has the insurance coverage it needs is a crucial component of our services. Yet, fewer insurance carriers are offering policies that will adequately protect your board and your building from costly claims and litigation. That hasn’t stopped FS Insurance Brokers from successfully negotiating policies with lower annual premiums, better terms, and sufficient coverage limits

Our affiliate has co-brokered over 4,000 placements and works with banks and insurance companies across North America to find the absolute best policy options for each client. These policies include:
  • General liability
  • Umbrella/Excess liability
  • Cybersecurity
  • Workers' compensation
 

Risk mitigation | In-depth reviews of third-party contractor insurance policies and service agreements

FirstService has partnered with VIVE, a third-party compliance service that continuously screens every vendor and contractor we work with for valid trade licenses, adequate and current insurance policies, business background, and the acceptance of our Code of Conduct.

Our team also helps define contract specifications, reviews bids, and negotiates the most favorable terms.
 

Whether you’re a portfolio owner or a family-owned operation, you can trust FirstService Residential to deliver quality services that help maximize occupancy, streamline operations, and enhance your returns on investment. Contact our multifamily team today.


 

Exclusive insurance products and risk mitigation services for multifamily building owners.

We protect our clients with an arsenal of insurance products and proactive compliance measures that help reduce exposure and costly violations. Let us show you what great management looks like.