Omega Risk Management (ORM) provides insurance and risk management consulting services for:
- Real Estate Investment Banks
- Real Estate Owners & Developers
- Commercial & Industrial Companies
- Law Firms
- Schools and Universities
- Designers of specialized insurance products such as Terrorist Mortgage Impairment Policies for large-risk commercial real estate lenders
Our clients depend on our in-depth knowledge of insurance and risk management issues. We guide our clients through the process of identifying and quantifying the risks that, left unchecked, could cause lengthy and costly business disruptions. Working hand-in-hand with our clients, we help them design and implement organization-wide risk management programs and monitor these programs in an ongoing effort to control risk.
Real Estate Investment Banking
Omega Risk Management’s investment banking practice focuses on insurance and risk management in real estate lending activities for large construction projects, permanent financing and securitized transactions. As advisor to investment bankers, Omega consultants evaluate the risk associated with a project or property. We formulate the lender’s insurance specifications required for its borrowers, contractors and design professionals. We evaluate the borrower’s insurance plans and negotiate coverage enhancements for the lender. We evaluate the use of bonding and its popular substitute, the Subguard insurance product, and determine which will best meet the lender’s interests.
To help facilitate timely loan closings, we draft insurance terms for the mortgage agreement and assemble a comprehensive report that documents the insurance coverage provided by the owners, contractors, and design professionals. Throughout the pre-closing process, we counsel the lender, the lender’s attorneys and the borrower to protect the lender’s assets.
Omega Risk Management also provides its banking clients with consulting services for the insurance and risk management issues that arise during a work out or foreclosure. We evaluate the insurance needs of the project in light of the complex issues that arise during the process, and assist our clients in making sure that the appropriate coverage is in place. We also assist with the particularly complex issues that arise when a construction project is in default, including an evaluation of the specific insurance programs that often are used with large construction projects.
In addition many of our clients now have to handle issues regarding construction claims and construction defects. At Omega, we provide them with professional guidance in the best way to handle these complicated claim areas.
Omega Risk Management addresses these insurance and risk management areas:
- Property & Casualty Insurance
- Business Income Insurance
- Terrorism Insurance
- Builders Risk & Construction
- Bonding & Subguard
- Environmental Risks
- General Contractor’s Insurance
- Architects & Engineers Professional Liabiilty Insurance
- Design Team Professional Liability Insurance
Omega also serves lenders by evaluating their borrowers' qualifications for Commercial Mortgage Backed Securities (CMBS) single-asset and portfolio finance, mezzanine loans and permanent mortgage financing.
At Omega, we pride ourselves on developing long-term relationships with our clients. From international manufacturers to local service companies, we work closely with our clients to identify risk in their day-to-day operations. Working with senior management, we direct the implementation of loss control, claim management and administrative programs that reduce the severity and frequency of loss. To round out the overall risk management program, we design and implement corporate insurance programs and provide ongoing counsel to manage its success.
Mergers & Acquisitions
Omega Risk Management consultants identify potential financial and operational hazards in merger and acquisition deals that, when corrected, result in significant savings for our clients. We have uncovered under-reserved workers compensation and employee retirement plans, resolved products liability issues, and designed risk management plans for senior managers to curtail financial drain on corporate profits. We also have assembled numerous insurance programs for NewCo's and assisted multi-divisional corporations capitalize on their consolidated buying power.