Green Mountain Sponsored Captive Insurance Company, a Vermont-based protected cell company, has launched its innovative group captive profit centre programme, Greenguard, for owners and providers of multi-family properties.
As part of the launch Strategic Risk Solution (SRS) will provide captive management services to the Greenguard programme.
Additionally, SRS is a shareholder in Green Mountain and helped design the programme.
The programme is designed to ensure tenants have adequate liability coverage and to provide protection for their personal assets while also generating income for property owners/managers for their efforts to market and administer the programme.
As increasing numbers of new apartments nationwide often means increasing the level of self-insured losses caused by fires, natural catastrophes or the negligence of their residents and tenants.
The Greenguard programme offers property owners and managers an opportunity to provide protection for such losses while offering their residents and tenants convenience in complying with insurance requirements under their lease or rental agreements.
Chris Kramer, managing director of Green Mountain, commented: “We are excited about the launch of the Greenguard programme as its ease of participation and lack of financial risk will entice candidates to use our programme.”
“For agents/brokers seeking to fortify their relationship with their clients in multifamily, residential, and tenant-occupied property industries, Greenguard can provide a unique service and benefits."
Brady Young, SRS’s president, added: “We are pleased to support this new programme in a sector where greater transparency is needed and both tenants and property owners/managers can benefit over the current fully insured products being sold today.”
“We have large clients that already do this on their own but this programme will enable mid-size companies to access the same benefits on a turn key basis with no upfront investment,” Young added.
