Case Studies

Case Study #1

International hotel chain with a property valued at over $1B located on the Hawaiian coast. Financing was a multi-billion dollar stand-alone securitization and the subject property was at risk for flood and tsunami. The delta between the Borrower’s flood/tsunami limits and what investors and rating agencies expected was over $1B. Harbor researched the subject property, historical records & predictive models and performed highly detailed analytics using our proprietary tools. As a result of these efforts, Harbor developed a unique and innovative recommendation for flood/tsunami coverage that was agreeable to the Borrower and was successfully securitized & accepted by rating agencies and investors.

Case Study #2

High profile premier hotel in coastal Florida financed by an institutional lender as a stand-alone securitization. The subject property was at risk for windstorm, storm surge and flood and the borrower maintained a blanket policy covering multiple properties in the vicinity of the property. Further, Borrower maintained less than market standard for these perils while the lending group, investors and rating agencies each had heightened concerns over adequacy of coverage given the high risk location and intended execution. Harbor spent months obtaining significant detail regarding exposure under the blanket and investigating the subject property through site visits and sourcing of other relevant property, historical and modeling data. By utilizing this data and our proprietary insurance analytics, Harbor successfully designed and negotiated a ground-breaking insurance solution that was satisfactory to the borrower and was fully accepted by the lending group, rating agencies and investors.

Case Study #3

Trophy asset in Manhattan with a world renowned financial institution as the sole tenant. The subject property had significant exposure to acts of Terrorism and the financing was slated for stand-alone securitization execution. The tenant insured the collateral and provided a non-traditional and highly complex insurance program for property & terrorism exposure that included a combination of conventional insurance with rated carriers, coverage through a tenant-owned captive, self-insurance and reinsurance. Harbor successfully negotiated loan agreement terms as well as policy terms and conditions, including reinsurance agreements and cut-through endorsements, that were tailored to meet the unique objectives of all parties and the loan was successfully securitized.