Media

February 1, 2020
CRERDI® /kr-'err-di/ - Program Overview

Protect your rental income against tenant default!

When tenants default on the rent, it can take months for commercial property owners to regain possession of their property and seek out another tenant.

Meanwhile, property owners are incurring loss of rental income and legal expenses all while continuing to pay their mortgage payments, real estate taxes, property management fees, and any additional expenses in order to maintain their investment, a cash flow nightmare!

Introducing CRERDI® /kr-'err-di/!

Mar 25, 2020
The Cheesecake Factory Tells Landlords Across the Country It Won’t Be Able to Pay Rent on April 1.

The chain restaurant says closed dining rooms and “extraordinary events” are the reason for not paying rents.

In these unprecedented times, there are many factors that are changing on a daily basis given governmental regulations and landlord decisions to close properties. We have to take both into consideration in terms of understanding the nature of our rent obligations and with respect to managing our financial position. We have very strong, longstanding relationships with our landlords. We are certain that with their partnership, we will be able to work together to weather this storm in the appropriate manner.

Decemeber, 2019
Foucs on Emerging Property and Casualty Products

When rent is overdue

Another door opener is coverage that actually protects the owners of said doors. Rent default coverage is designed to help commercial investors recoup lost rental income. It’s a newer market in the U.S., having been a fairly common product abroad for decades.

It’s a market that Erez Golomb, CEO of E Golomb Insurance Services (EGIS), has built a business around. The EGIS product, Commercial Real Estate Default Rent Insurance (CRERDI®) protects commercial property owners against loss of rental income during tenant eviction events. It also provides reimbursement for the tenant’s leasehold improvements once the tenant is removed, and it covers legal expenses associated with the eviction. “We are excited to work with EGIS in the distribution of this unique product for property owners,” says Jason White, managing director of CRC Group.