Managing general agent CHES Special Risk is advising all brokers to keep their eyes on the growing property management market in Canada.
Citing the latest statistics, CHES said that there are a total of 33,838 Canadian property management businesses in 2022, reflecting a 3.4% increase from 2021.
“Based on these statistics, we observe that the market landscape continues to evolve, creating new opportunities to reach out to potential property managers who require insurance to protect their business from financial liabilities,” a company release from CHES Special Risk said.
The MGA added that it offers a comprehensive policy package for property managers, and that it is one of its “widely purchased” specialist products. The policy combines commercial general liability (CGL) as well as errors & omissions insurance (E&O), which can cover for the following:
CHES offered a reminder to insurance brokers that should they ever need to place coverage for a property manager, the MGA is more than up to the task to underwrite an insurance solution.
“CHES thrives on creative thinking, collaboration, and a focus on understanding our broker partners' needs to create insurance solutions that will help them achieve their business objectives,” the MGA said. “Our long-term involvement in this specialist area providing tailored solutions is what sets us apart.”
