Preferred Concepts, founded in 1989 by Stuart Farber, is a specialized insurance provider focused on delivering tailored insurance solutions primarily for the real estate and hospitality sectors. Initially, the company concentrated on offering proprietary insurance policies through risk purchasing groups (RPGs), allowing insureds to access group purchasing discounts and customized coverage options. Recognizing the unique needs of their target industries, Preferred Concepts developed a range of insurance products, including Primary General Liability, Property, and High Limit Umbrella Liability policies.
In response to the evolving marketplace, Preferred Concepts has established a reputation for quick access to effective and competitively priced insurance solutions for retail agents and brokers. The company's commitment to the real estate sector is particularly noteworthy, as they continuously strive to enhance their offerings to meet the specific needs of their clients.
In 2023, Preferred Concepts expanded its services by launching 'HARP by Preferred Concepts,' aimed at addressing the insurance requirements of community associations across the United States. This initiative demonstrates the company's commitment to providing highly sophisticated and customized insurance programs that not only enhance business performance but also foster strong client relationships. Overall, Preferred Concepts stands out as a dedicated partner for insurance professionals, bringing innovative coverage solutions to market while maintaining a customer-centric approach in all aspects of their operations.
