Real Estate

In the realms of real estate, no matter if you are an owner, operator or developer, there can be issues coming from a myriad of directions that could impact your business. There can be challenges such as asset value instability, reputational concerns, fluctuations in interest rates and economic conditions, property damage, regulatory issues and capital and credit availability.

Sky rise buildings are scattered across the city of Bangkok and the number will only grow. With more developments, the complexity of each liability therefore becomes more intricate as hidden exposures continue to creep up. Hence, it is important to address all the potential perils and risks it could face such as water, fire, slips, natural disasters and much more, with adequate insurance coverage.

Every commercial real estate has their own unique risks as occupancy, tenant operations, type of construction and building dimensions are different from one to another. Safeguarding physical structures from perils is insufficient for real estate owners and property managers as insuring against liability exposures of tenants, guests and contractors should also take precedence. With increasing construction costs, sustainable material management, securing occupancy and liaising with multiple contractual vendors are accentuated. Without proper addressment, exposures can easily sift through cracks which can lead to potential operational dysfunction.

The contents in your property has considerable significance as damages can be crippling to the outlook for any businesses. By investing in insurance and other risk management, you can be devoid of problems such as disruption of service, damaged reputation and depleted stock levels. It does not matter if it is a warehouse, office, restaurant, lab or shop - issues can pile up without adequate risk management.

With continued growth and advancement in the real estate landscape, the industry has its foundation to thrive. However, with increase in innovation and complexity in developing high quality property, the risks also escalate. In such a high pressure environment, the margin for error is slim. Any rate surprises are unwelcomed, especially when it affects the execution of the plan. Hence, it is important to understand that insurance costs are a direct reflection on the expense of your assets.

Furthermore, with changes in consumer behavior, such as online retailers shifting its resources to its online medium, demand drops as returns for commercial projects reduces. Current climate crisis also poses a threat, as volatile weather has shown an increase in claims, structural damages and depreciating asset values. Hence, as there are various avenues that may affect the ability to complete a project, it is critical to consider insurance as a means of minimizing financial risk.

At CHAZ, we understand that the processes in the real estate industry relies on making informed decisions. We analyze the risks associated with your business, by providing you with innovative and customized solutions with optimal cost. We can leverage our insurance market knowledge by assisting you with market trends, allowing you to mitigate increased expenses as the market shifts.

Through our vast experience, CHAZ Insurance Brokers Ltd. recognizes and understand that each and every business, organization and industry are unique in their own ways and can have completely different risks. Henceforth, the content provided are solely examples of the risks that may or many not be relevant to your business. To learn more, contact us on the form below.