DOXA acquires Renters Legal Liability
DOXA announced the acquisition of Renters Legal Liability, a specialty MGA that writes renters’ legal liability products.
Backed by an A+ A.M. Best rated carrier, RLL offers a fully insured and captive program to multifamily owners and managers in all 50 states. The Utah-based company, which was founded in 2001, offers a waiver that releases the resident of a property from the lease requirement to maintain renters insurance, and it waives the resident’s responsibility to indemnify the owner for the damage they cause to the property. Resident caused losses are transferred to the RLL policy and away from the owner, the resident, and the owner’s property policy.
The waiver sits in front of a traditional property insurance policy that covers accidental, resident-caused, damage. The property owner is the named insured which allows the owner to track which units are protected and control their risk. Many communities treat the waiver as an amenity and pass the costs to the resident.
DOXA will provide RLL with back office, actuarial and underwriting support as it continues to grow and offer new solutions to the renters’ legal liability marketplace.
“Given the ongoing housing shortage in the U.S. and the still hot rental market, the acquisition of RLL is another step for DOXA to expand into growing sectors of the economy. With a nationwide client base, extremely navigable customer interface and unique product, RLL adds another successful and profitable business to the DOXA portfolio. Better still, RLL offers their customers a reliable and profitable way to minimize risk while maximizing offerings to their renters. We are proud to help RLL grow and expand this important and necessary offering.” – DOXA CEO, Matt Sackett.
“RLL has long been managed by professionals with vast experience in the risk and property management spaces. We are advocates for our clients and support them with the skills, technology, and problem-solving expertise necessary for success. In partnering with DOXA we are pleased to take both our experience and product offerings to the next level leveraging DOXA’s longstanding experience in the insurance space paired with its highly organized back-office support and top-notch underwriting talent.” – Chet Goodwin, President of RLL.
The transaction closed on April 1, 2024. Current leadership Chet Goodwin, President, and Brent Daines, COO, will continue on with RLL post-acquisition with DOXA lending back-office support.
