Overview of the Lessors Risk Insurance Program from Joseph Distel & Co. Inc.
Joseph Distel & Co. Inc. offers a dedicated Lessors Risk Insurance program designed for commercial landlords and property owners who lease space to third-party tenants. This program—available through The Distel Group—can be written as monoline property or liability, or as a package to combine coverages. Coverage is underwritten through multiple markets (carriers vary), with admitted and excess & surplus options available in most markets.
Ideal Accounts and Appetite
This program is built for agents placing commercial lessor exposures across New England. Typical accounts that fit well include:
- Small to mid-size office buildings and multi-tenant retail plazas leased to third-party tenants
- Mixed-use commercial properties with clearly separated commercial occupancies
- Industrial flex space, warehouses, and professional suites leased to independent businesses
- Owner-landlords who need a market for property-only or liability-only placements
Generally not a fit: primary residential apartment portfolios, habitational risks where the owner occupies units as residential tenants, heavily vacant properties, or accounts with recent significant property or liability losses without mitigation.
Coverage Highlights and Advantages
Key liability and property features available through this program:
- Commercial General Liability (CGL): Primary limits up to $3,000,000 occurrence/aggregate; $5,000 medical payments included; additional insureds/other interests added for $100 each; excess/umbrella capacity up to $25,000,000.
- Property Coverage: Building, business personal property, business income, equipment breakdown, accounts receivable, computer equipment, outside signs, valuable papers. Available on Basic, Broad, or Special form with options for Replacement Cost or Actual Cash Value.
- Crime Coverage: Inside the premises (theft of money and securities), robbery or safe burglary of other property inside premises, and outside the premises coverage.
- No deductible required on many liability placements; property deductible options vary by carrier and risk characteristics.
Underwriting Notes and Minimum Premiums
The program accepts submissions from independent agents and brokers. Typical underwriting requirements include a completed application, current lease schedule, and loss runs. Additional documentation (photos, tenant roster, protective device descriptions) may be requested for larger or higher-value locations.
Minimum premium: $750. Additional insureds/other interest endorsements are available for a fee (quoted as $100 each in many cases). Final terms, deductible, and appetite will depend on carrier evaluation and state filing requirements.
Territories and Admitted Positioning
States available: CT, ME, MA, NH, RI, VT. The Distel Group places business in most available markets—both admitted and excess & surplus—so placement flexibility is a strength when admitted options are limited in a particular state or for a specific exposure.
Why Work With Joseph Distel & Co. Inc. on Lessors Risk
- Managing General Agency and Excess & Surplus lines expertise provides access to admitted and E&S markets when needed.
- Program flexibility to write monoline property, monoline liability, or packaged solutions simplifies placement for agents with diverse landlord clients.
- Competitive limits and excess capacity support growing landlord liabilities and larger accounts.
- Practical underwriting and fast turnaround for standard commercial landlord risks—ideal for brokers who need dependable markets for lessors.
Example scenarios
- You have a client who owns a two-story office building leased to multiple professional tenants and needs a combined building and liability policy with higher limits and error-free additional insured handling—this program can provide package options and excess capacity.
- A regional landlord with single-tenant retail units wants property coverage with business income and equipment breakdown; you can place property-only coverage on replacement cost or ACV basis depending on the carrier quote.
Frequently Asked Questions
What types of accounts are a good fit for this Lessors Risk program?
Commercial landlords with office, retail, flex, or industrial tenants in CT, ME, MA, NH, RI, and VT. The program is best for owner-occupied landlord accounts or independent landlords leasing to third parties—not for primary residential apartment portfolios.
Can I add additional insureds or other interests?
Yes. Additional interests can be added; many carriers in the program charge an endorsement fee (commonly quoted at $100 each). Exact wording and fees depend on the carrier selected.
Is this an admitted program or E&S only?
Joseph Distel & Co. Inc. places business in most available markets, including admitted and Excess & Surplus options. The final placement will depend on state availability and the individual risk profile.
What is the minimum premium and are there deductibles?
The program minimum premium is $750. Deductible requirements vary by carrier and risk; many liability placements have no deductible while property deductibles are carrier-specific.
Need help placing an account? Connect with a market specialist.