By: Joshua Finley
When navigating the challenging and tedious complexities of insurance in real estate investment, it’s crucial to have someone experienced in your corner. That’s why Herb Dorow and his partner Tim O’Rourke, seasoned experts in underwriting and insuring large real estate risks, have made it their mission to revolutionize the insurance experience for property owners and managers. With a combined experience of over two decades in the industry, Herb has honed his skills in identifying potential risks and providing clients with tailored solutions.
Co-founding Cap Asset Risk Management, Herb set out to address a critical gap he observed in the insurance space for real estate investors and fund managers. “We wanted to do business differently,” explains Herb. “Our goal is to provide great service with unparalleled insurance expertise and risk mitigation while adding value to your investment or fund business.”
Redefining Insurance Solutions
Cap Asset Risk Management isn’t your typical insurance agency. The company offers a unique blend of expertise in insurance and real estate investment, specializing in serving owners and property managers of apartments, commercial real estate, condominium associations, and cooperatives. “We’re not just here to sell policies,” says Herb. “We’re here to build an ecosystem with our clients, connecting them with valuable networking partners and resources.”
With their extensive network and hands-on approach, Herb and TIm have built Cap Asset Risk Management from the ground up, focusing on providing personalized service and strategic risk management solutions.
Three Key Considerations When Getting a New Policy
Drawing from his wealth of experience and expertise, Herb shares three critical factors to consider when securing a new insurance policy:
- Understand the Fine Print
Before diving into a new policy, Herb stresses the importance of thoroughly reviewing the existing policy. “The first thing we ask for is a copy of the entire policy,” explains Herb. “How can we advise you if we haven’t read all 300 pages?” His approach goes beyond a cursory glance; it involves a deep dive into the intricate details of the policy to uncover any potential gaps or areas of concern. By scrutinizing every clause and provision, he ensures his clients are fully aware of their coverage and any associated limitations or exclusions.
- Prioritize Long-Term Benefits
Rather than focusing solely on premium costs, Herb prioritizes value over price. “We don’t sell based on price,” says Herb. “We want to come to a fair and reasonable price and earn your business.” He strikes a fine balance between cost-effectiveness and comprehensive coverage, focusing on arriving at a price point that meets his client’s budget and provides adequate protection for their assets.
- Seek Personalized Insurance Strategies
With his expertise in underwriting and real estate investment, Herb excels in negotiating with underwriters to secure the best coverage and terms for his clients. “I tell my clients’ story to the underwriters to get discounts or explain different scenarios,” says Herb. “It’s much more than just selling a policy; it’s about finding tailored solutions to meet my clients’ needs.” By leveraging his deep understanding of both the insurance industry and the real estate market, he can secure favorable terms and coverage options that align with his client’s goals and priorities.
Building a Vision for the Future
As Cap Asset Risk Management expands its footprint and client base, Herb remains committed to his vision of building a powerful ecosystem within the real estate industry. From hosting networking events to facilitating client retreats, he is dedicated to adding value and fostering meaningful connections among his clients.
Connect with Herb by visiting Cap Asset Risk Management’s website at CapAssetRiskManagement.com.
Published by: Nelly Chavez
