Why Choose Stern Risk Partners
Experience
  • We’ve designed customized resident insurance programs for owners, property managers and Multifamily software providers
  • We have the experience to deliver an unique, client empowering solution - whether it’s a profit sharing structure or a client owned captive insurance program
  • We help apartment owners and managers understand their legal right to require that residents carry insurance for exposures in which the property owner or manager has an insurable interest.

Industry Expertise
  • We have studied the industry and know what works for our clients.
  • Statistics show that 80-85% of renters do not purchase renter’s insurance unless it’s mandated.
  • Unfortunately, many renters do not have the financial resources to pay for the damage they create.  As a result, most losses created by tenant negligence are paid for by the property owner and/or the owner’s property insurance.
  • Requiring tenant’s to carry Resident Legal Liability insurance as part of the lease has allowed property owners the ability to recoup some or all of the loss.
  • The quality of tenant insurance coverage can vary wildly from market to market - at Stern Risk Partners we ensure our clients understand the entire landscape of coverage options.
  • Nobody in the insurance brokerage space has more expertise designing these specific programs

Creativity
  • We help clients evaluate all the options and suggest the best solution for the most appropriate program structure
  • We have the creativity and capability to design and implement a specialized program that creates a new source of revenue for every client's specific needs
  • As an insurance broker and captive management firm, we use all available resources to deliver the most economically efficient arrangement for our clients.

Resident Liability

Landlord required Resident Legal Liability Insurance is a trend in the Multifamily housing industry that has gained considerable popularity over the last ten years - and is commonplace in today’s market. The available providers of this product have also grown dramatically and include traditional insurance companies, Managing General Agents, property management software providers and self-insured solutions. Available programs not only provide protection from tenant negligence, but also have the potential to be a significant source of ancillary income. This has led to a niche industry for resident insurance in which there are varying degrees of products and coverage available to apartment managers and owners. These products compete with the large personal lines insurers that residents can procure on their own.
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Program Structure •   Insurance Brokerage •  Program Administration  •  Captives