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The Markel Shand Files
Housing Crisis Could Fuel
Tenant Discrimination Claims
As the mortgage crisis pushes more people out of their homes and into rental apartments, a spike in tenant discrimination claims could result. Forced into difficult situations, already unhappy people could turn into disgruntled renters.
Property owners and managers are vulnerable to charges of discrimination by tenants - even if their business practices are impeccable. Markel Shand's Tenant Discrimination Liability coverage can provide them with the protection they need. Details follow:
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Pay-on-behalf-of coverage for property owners and managers of residential and commercial rental properties.
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Coverage responds to allegations of discrimination in renting and leaseing due to gender, ethnicity, sexual orientation or other discriminatory acts.
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First dollar defense. Covers fees and expenses incurred in defense of the insured.
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Coverage includes Fair Credit Reporting Act, class action lawsuits, claims brought by HUD or similar local authorities, punitive damages (where allowed by law) and public relations expenses equal to 2.5% of policy limit.
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Below minimum premiums are applicable to loss/incident free accounts managing up to 600 units.
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$1,600 for $500,000/500,000
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$1,860 for $750,000/750,000
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$2,000 for $1,000,000/1,000,000
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24-hour turnaround on quotes through QuickSource Team.
Note: If you have a Tenant Discrimination risk and know the number of units managed or owned, ballpark pricing is assessible at the "Broker" site on the Markel Shand website, www.markelshand.com.
For more information about our Tenant Discrimination Liability coverage, please contact your QuickSource or Source One underwriter.

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