Commercial insurance by professionals, for professionals

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What we do

We are a niche insurance broker providing coverage exclusively to professional owners and managers of real estate portfolios.

Our mission is to significantly reduce the cost of insurance coverage by bringing many like-minded real estate professionals with low loss histories together to obtain preferential rates from insurance carriers.

Our Clients

Our clients include property and asset managers, private investor portfolios and syndicates. Each client is vetted for professionalism and low risk qualities prior to being invited to join our programs.

Partners

Realize the Benefits of Professionalism

INVITATION ONLY

Our program coverage are only available to vetted real estate professionals.

KEEP FULL CONTROL

Save time by managing your portfolio’s policies through our sophisticated online portal.

CONTROL RISK

Never risk being underinsured again with our proprietary automatic appraisal system.

CUT THE FAT

Stop paying excessive commissions, save up to 75% with our wholesale rates.

KEEP IT SIMPLE

No more getting upsold on coverage you don’t need.

LONG TERM SAVINGS

Keeping losses low means all policyholders will benefit from lower rates.

Programs

Commercial Program

Designed exclusively for professional investors and managers of commercial real estate portfolios. Our Commercial Program coverages keeps it simple to save you money and includes:

  • Commercial Property
    • Gross Rent Coverage
    • Sewer Back-Up
    • Water Damage
    • Flood
    • Earthquake
    • Replacement Cost
    • Stated Amount Co-Insurance
  • Equipment Breakdown
  • Commercial General Liability
  • Automatic CRN Appraisals

Strata & Condo Program

Designed for the professional managers with pro-active councils. Our Strata & Condo Program coverages keeps it simple and includes:

  • Strata Property
    • Sewer Back-Up
    • Water Damage
    • Flood
    • Earthquake
    • Replacement Cost
    • Stated Amount Co-Insurance
  • Equipment Breakdown
  • Commercial General Liability
  • Directors & Officers Coverage
  • Errors & Omissions for Managers
  • Automatic CRN Appraisals

Our Story

The Real Estate Owners and Managers Insurance Agency (ROMIA) is the brain child of a property management company trying to find a better way to purchase insurance coverage for their client’s real estate portfolios.

While conducting a review of losses incurred over the prior 5 years we discovered our portfolio of real estate was only suffering losses around 30% of the premiums paid. One insurance carrier remarked on how impressed they were with the loss history since in their experience 70% of all premiums received from commercial properties are paid out in claims. After brainstorming this discrepancy with our colleagues in the industry we realized that professionally managed real estate has a lower level of risk compared to the average property and so incurs lower losses.

We also discovered that by working with standard insurance brokers the premiums from our client’s low risk properties were being aggregated with higher risk properties owned by non-professionals. In effect, the professionally managed properties were subsidizing the losses of the average property.

ROMIA was formed bring professional owners and managers of real estate together to create a new and unique pool of properties with a significantly lower risk profile that the insurance carriers would recognize with commensurately lower premiums. 


Leadership Team

Warren Smithies

Founder & CEO

Derek McCoy

General Manager