RLL’s Property Damage Liability Waiver (PDLW) is a master policy based risk management tool that fulfills the resident’s obligation to protect the owner as specified in the lease. The PDLW agreement is a contractual obligation to protect the owner from resident damage caused by fire, smoke, explosion, water discharge, and sewer backup.
The RLL® liability policy provides habitational owners with a loss control tool for property damage claims caused by resident negligence. The RLL® policy is primary over other commercial Property & Casualty policies, placing it as the first insurer to respond to a covered claim.
RLL® allows residents to meet the owner/manager’s $100,000 property damage liability requirement. RLL® allows owners/managers to dramatically control property loss ratios. Clients may realize a potential discount on annual premiums from P&C carriers.
The RLL® policy provides personal property coverage for the impacted residents and displacement costs, subject to program limits.
RLL® materially improves NOI and is a great marketing tool. The program synchronizes data from many popular property management software systems for a seamless operational exchange of information. The program is underwritten by an A.M. Best, A+, XV, rated global insurance carrier.