Launches renter’s and liability insurance program in Florida
(June 7, 2007) — LeasingDesk Insurance Services, the leading provider of risk management solutions for the multifamily industry, today announced the availability of its flagship program, eRenterPlanSM Preferred, in the Florida market. The program, which provides renter’s and liability insurance, is now available to residents in all 50 states.
“Entering Florida is a great success for LeasingDesk,” explains Dirk Wakeham, president of LeasingDesk. “With the state’s new stringent insurance regulations, many other insurance providers are moving out. By taking the extra effort and time to meet the requirements, LeasingDesk is now the only renter’s insurance provider in all 50 states.”
After suffering through significant hurricane seasons, the Florida state legislature passed House Bill 1-A in an effort to protect residents against substantial insurance rate increases. This move ultimately changed the face of insurance coverage and rates in the state.
American Modern Insurance Group (American Modern), the underwriter for eRenterPlan Preferred, worked diligently to help LeasingDesk enter this complex market.
“House Bill 1-A made the insurance landscape completely different,” says Kendall Dewing, product manager for American Modern. “There are more requirements, additional mandated coverage, and different forms and execution of those forms. We had to revamp our terminology, essentially creating a separate program for Florida.”
eRenterPlan is a cost-free risk management solution for owners that transfers risk back to the resident, where it belongs. This easy-to-implement, customized program boasts automatic resident pre-approval and statewide rates with transferable coverage. It integrates seamlessly with most property management software.
“The effort American Modern put into developing the program to fit into Florida’s new mandates and requirements will have a tremendous impact on the way we market this product to property owners,” states Wakeham. “We are able to not only offer them a great risk management tool, but also a comprehensive yet simple insurance solution for their residents.”
The full eRenterPlan Preferred program became available June 1, 2007. A liability-only version will be available June 15, 2007.
To schedule an interview with a LeasingDesk executive, or to learn more about LeasingDesk Insurance Services, please contact Don Canfield at 303-684-0300 ext. 123.
LeasingDesk Insurance Services, a wholly owned subsidiary of RealPage, Inc., is the leading provider of risk management solutions specifically designed for the multifamily industry. LeasingDesk’s flagship program, eRenterPlan, offers owners and residents an affordable and easy-to-implement renter’s and liability insurance solution that increases profitability by eliminating exposure from resident negligence. LeasingDesk also offers DepositFree, an alternative security deposit solution that utilizes a surety bond to guarantee a resident’s financial obligation in accordance with the lease agreement. For more information on LeasingDesk, visit www.leasingdesk.com, or call 888-484-7132.
About American Modern
Headquartered in Cincinnati, Ohio, American Modern Insurance Group provides specialty insurance products and services through its subsidiaries* in all 50 states and is a wholly-owned subsidiary of The Midland Company, founded in 1938. Rated A+ (Superior) by independent insurance analyst A. M. Best and counted among the Ward Financial Group’s Top 50 property and casualty companies for eight consecutive years, American Modern accounts for approximately 94 percent of Midland’s consolidated revenue. American Modern also offers a wide variety of specialty products for site built homes, motorcycles, watercraft, snowmobiles, recreational vehicles, collector cars, physical damage on long-haul trucks, extended service contracts, excess and surplus lines coverages, credit life and related products as well asral protection and mortgage fire products sold to financial institutions and their customers. American Modern serves more than 1.2 million policyholders through a national network of staff claim adjusters. The Midland Company’s common stock is traded on the NASDAQ Global Select Market under the symbol MLAN. Additional information can be found at www.amig.com and www.midlandcompany.com.
*The eRenterPlan Preferred is underwritten by one of the following American Modern Insurance Group companies:
- In CA: American Modern Insurance Company
- In Other States: American Modern Home Insurance Company, American Modern Insurance Company of Florida, Inc.