May 9, 2018 (Houston, TX) – On April 5th, Capstone's CEO and General Counsel Stewart A. Feldman led multiple round table discussions at the Inside Self-Storage World Expo at the Paris Hotel & Resort in Las Vegas. Approximately 3,600 self-storage industry participants attended the event.
Feldman's discussions focused on captives as a strategic risk mitigation tool for middle market, self-storage businesses. Also addressed was the revenue generating potential of the planning for facilities' owners. Attendees learned how captive and alternative risk planning can help self-storage businesses address otherwise uninsured risks, such as tenant property loss, business interruption, weather-related losses, regulatory changes, and more. Attendees also learned about how captives could be integrated into a broader risk management strategy, which dovetails with existing commercial coverages.
Feldman commented: "With the expansion of the self-storage industry comes exposures and increased risk and resulting losses, which may not be addressed with commercial policies due to gaps in coverage. From theft to mold to cyber breaches and regulatory changes, self-storage businesses face risks that can disrupt their operations. Being proactive is especially critical and ensures that businesses are financially resilient in the event of a loss."
Feldman continued: “As an adjunct to existing coverages, a captive can provide a broader insurance program with highly customized policies, while also providing ancillary financial benefits. In the self-storage industry in particular, the captive can help generate ancillary revenue.”