Case Studies

Our Most Recent Success

We acted as a consultant for a $1.3B mixed use project in Miami. The components were a hotel, two condominiums, large retail space, and two office buildings. The insurance challenges were huge, but working with the Owner's Team, we were able to conclude a successful insurance program for the project.

We Help Create Flexible Situations

Land developer in CA started an ambitious residential subdivision, for ultimately 3,000 homes, in 2006. When the economy turned negative, he ceased all operations and lowered his expenses considerably. The master insurance program was quite complex. Payne Consulting (PC) met with the broker and underwriters to devise a plan that would shrink the coverage periods at the site, yet keep coverages in place, and return if possible premiums to the client. That was accomplished after several months of intense work, resulting in $1.4M insurance expense returned while keeping a basic program in place to protect the client and his shareholders.

We Get You More For Less

A heavy equipment dealer in SC was unhappy with his master program because of cost and inadequate limits. The annual premium was $1.3M and that included only $1M in umbrella liability coverage. PC got involved with the broker, and the next renewal saw premiums drop to $770,000, which included umbrella limits of $15M.

We Negotiate The Best Deal

A condo association in South Florida had an insurance budget of $450,000 for all coverage at renewal. It was a very tight budget for an association facing unusual cash flow problems. The broker offered his best at $540,000. PC was engaged by the HOA to work with their broker, resulting in a final total premium of $470,000.

A condo association in South Florida contact PC to assist in negotiating their renewal in 2006. The total of all premiums paid was $1.3M. PC worked with the broker and the appraiser, and the renewal was finalized at $775,000 for the HOA.

Client Comments

"We are real estate developers in South Florida. Whit has been our insurance consultant for 21 years. During that time, as our insurance program has grown and changed, we have looked to Whit for his recommendations regarding our plan. He is a knowledgeable and dependable professional, and is a vital part of the team that manages the risks that we as a company face daily."
-Gregg Toland, Chief Financial Officer, Swire Properties, Miami, Florida

"Our company is involved in development in Florida and other parts of the country and owns income producing properties in major cities in the US. Insurance issues are very important to us, yet they are also quite complex and constantly changing. It is critical to us to know that insurance matters have been reviewed by a person other than the broker from whom we bought the policies. That has been Whit's role, and he has done an excellent job for The Trump Group. It is reassuring to have him looking over our insurance program with a fair and balanced perspective, as an independent advisor."
-Ed Dombrowski, Director of Finance, The Trump Group, Aventura, Florida