Fraser Roberts talks with Aaron and Adam in today’s episode. He is the CEO of INTECH Risk Management. Fraser has worked with the company for over 15 years, taking over the business from his father in 2014.
With the COVID-19 pandemic causing a large impact on the insurance industry, Fraser gets into his thoughts on the current state of the market. We hear about the turbulence that insurance companies continue to face, the challenges posed to property owners and what Fraser thinks needs to happen for rates to see a decrease.
Topics covered include:
- The outlook on insurance covering losses from COVID-19.
- Increases in rates that Fraser expects to see in 2021 and if this trend will continue
- How insurance has been affected in the construction industry.
- Specific clauses that present the biggest challenges.
- Adding to the business while preserving what Fraser’s father built.
- Headwinds that are being faced to properly insure buildings due to the pandemic.
- Managing the constant changing of the insurance environment.
- Issues that arise which can stop clients from getting the coverage they need.
- Why multi-residential units bring higher premiums.
- Engaging with multiple brokers to find coverage.
- Building and testing the long-term relationship with your insurance broker.
- What makes INTECH unique in the insurance space.
- Why the realization must be made that pandemic coverage has to be limited.
- Cost of replacement versus actual cash value.
- A story about an insurance company refusing to renew a policy.
More about our guest….
As INTECH Risk Management’s CEO, Fraser Roberts is responsible for running all aspects of the company. Asides from his CEO duties, Fraser acts as an outsourced Risk Manager to a number of prominent developers and asset managers in North America.
Fraser oversees both the Owners and Lenders Insurance Advisory teams, gaining valuable insight into the needs and challenges facing both lenders and business owners. His intimate knowledge of the insurance marketplace and risk management best practices have enabled him to dramatically reduce his clients’ total cost of risk while improving their scope of coverage.
With clients in both the Commercial Real Estate and Infrastructure sectors, Fraser brings a wealth of knowledge when drafting and negotiating insurance and indemnity provisions in construction contracts, loan agreements, leases, and other material agreements. He consults on issues such as claims management, broker services, insurance program design, contractual risk transfer, alternative risk financing, among others, and advises lenders on all insurance matters related to a variety of transaction types, including Commercial Mortgages, Commercial Mortgage-Backed Securities, Mergers and Acquisitions and Construction, and Project Finance.
Fraser participates in the furthering of risk management education in the financial services and commercial real estate industries, where he regularly conducts private seminars for Lenders, Lawyers, Contractors, and Developers and speaks at industry events.
Fraser holds a Bachelor of Arts from the University of Toronto, Trinity College, and a Master of Laws through the University of Toronto Faculty of Law. In addition, he is a licensed insurance broker through the Registered Insurance Brokers of Ontario and is a member of the Global Risk Management Institute.
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