Jan 09 2026 17:55

A Broker’s Guide to Lessor’s Risk Only Property Insurance

Lessor's Risk Only Property Insurance Solutions for Tenant-Occupied Commercial Properties

 

Placing property coverage for landlord-owned, tenant-occupied buildings can be complex—especially when higher limits, layered programs, or non-standard risks are involved. Our Lessor’s Risk Only (LRO) property insurance program is designed to support retail insurance agents with flexible capacity, underwriting expertise, and solutions for both standard and higher-risk properties.

 

We focus exclusively on the landlord’s interest, helping agents secure dependable coverage for their clients while streamlining the underwriting process.

 

What Is Lessor’s Risk Only (LRO) Property Insurance?

 

Lessor’s Risk Only property insurance covers the building owner’s exposure only, not tenant contents or operations. It is intended for tenant-occupied commercial properties where tenants carry their own insurance for business personal property and liability.

 

This structure allows for:

  • Cleaner underwriting
  • Reduced operational exposure
  • More competitive pricing for stabilized properties

 

LRO coverage is ideal for landlords with clearly defined tenancy and consistent occupancy.

 

LRO Property Insurance Capacity & Program Structure

 

We offer flexible solutions for both small and large schedules, including:

  • Primary property capacity up to $50M
  • Ability to participate with a $50M layer in programs up to $500M TIV
  • Primary or Excess coverage options
  • Total Insured Values up to $500M
  • 100% Replacement Cost coverage available

 

This flexibility allows agents to place anything from a single-location risk to a multi-property portfolio under a cohesive program.

 

Eligible Lessor’s Risk Only Property Types

 

Our LRO property insurance appetite includes a wide range of landlord-owned commercial buildings, such as:

  • Commercial office buildings
  • Retail buildings
  • Shopping centers and malls
  • Storage facilities
  • Parking garages
  • And Many More!

 

We also work with markets willing to consider higher-risk LRO properties, helping agents place accounts that standard carriers may decline.

 

Coverage Highlights for Retail Insurance Agents

 

Agents gain access to strong coverage features, including:

  • Limited Access Facility underwriting
  • High-limit primary and excess property capacity
  • Participation in layered programs
  • Replacement cost valuation
  • Markets available for higher-risk commercial properties

 

Our goal is to help agents place challenging LRO property risks efficiently and with confidence.

 

Frequently Asked Questions About LRO Property Insurance

 

What does Lessor’s Risk Only insurance cover?

LRO insurance covers the building structure and landlord exposure only. Tenant contents, improvements, and business operations are excluded.

 

Can LRO coverage be written as excess insurance?

Yes. Coverage can be structured as Primary or Excess, and we can participate in layered programs up to $500M TIV.

 

Is LRO property insurance available for higher-risk buildings?

Yes. We have access to markets willing to consider higher-risk LRO properties, including certain non-standard occupancies.

 

Who is LRO property insurance best suited for?

LRO coverage is ideal for commercial landlords, real estate investors, and property owners leasing space to third-party tenants.

 

What to Include in an LRO Property Insurance Submission

 

Complete submissions lead to faster reviews and more competitive terms. When submitting an LRO property risk, please include:

  • Tenant list
  • Description of occupancy
  • ACORD application
  • Loss runs
  • Statement of Values (SOV)

 

Providing detailed information upfront allows underwriting to move quickly and reduces follow-up requests.

 

Partner With Us on Your Next LRO Property Risk

 

If you have a landlord account that needs higher limits, flexible structuring, or access to specialty markets, we’re ready to help. Our Lessor’s Risk Only property insurance program is built to support retail agents with capacity, expertise, and efficient underwriting.

 

Submit your risk today and let’s build the right solution for your client.