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NEW YORK, NY, September 26, 2018 -
Hanover Stone Partners, a risk management services firm with expertise in a broad range of critical risk disciplines,
today announced the appointment of Steven Sachs, a prominent real estate risk management and insurance executive, as the firm's National Real Estate practice leader.
"Across the country, commercial real estate owners, managers and developers recognize that effective risk management is critical to their success and sustainability of their projects and portfolios," said John J. Kelly, founder and CEO, Hanover Stone Partners. "Steve gives our growing real estate clientele another senior leader with a strong record of working with firms in all areas of the commercial real estate sector on understanding and addressing both insurable risks and those that can't be transferred through the traditional insurance market. Along with our national network of experienced risk advisors, Steve will make a meaningful difference for our real estate clients as they address the challenging exposures their organizations face today."
Mr. Sachs succeeds Ted Dann, who launched the practice in 2016 and will continue in a leadership capacity. The
practice provides a wide range of risk management and insurance-related advisory services for clients in all areas of commercial real estate and property development, management and operations, including: malls and shopping centers, corporate and industrial parks, manufacturing facilities, hospitality and gaming, retail chains, residential and multifamily housing, and mixed-use building complexes.
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In his more than 45 years of risk management and insurance industry experience, Mr. Sachs has focused extensively on the commercial real estate sector. Most recently, he was with Willis Towers Watson for 10 years, serving as executive vice president and director of the Real Estate, Hotel and Gaming Practice in North America. In addition to leadership posts at various other insurance brokerages and risk consulting firms, he established and led the Risk Management department of shopping center developer The Rouse Company for more than three decades.
During his career, Mr. Sachs has developed a number of innovative solutions for real estate companies, including: alternative risk financing for windstorm and earthquake deductibles; risk management performance programs that reduced self-insured retentions; and effective real estate disaster recovery and business continuity plans for major catastrophic events.
A frequent speaker at the RIMS National Conference on disaster planning, managing large losses and loss forecasting, he co-founded the organization's Real Estate Industry Group. A former board member of the Self-Insurance Education Foundation and of the Self-Insurance Institute of America, Mr. Sachs also was an organizer and former board member of Howard Bank, as well as chair of the audit and governance committees. He earned a B.A. degree in history from Duke University and a Master of Liberal Arts from Johns Hopkins University. He holds the Associate in Risk Management (ARM) designation.
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About Hanover Stone Partners
Hanover Stone Partners is the first network of recognized and accomplished risk management advisors and specialized risk management services firms. The firm assembles multi-disciplinary, cross-industry teams that work collaboratively to help clients identify, analyze, manage and finance enterprise risks. This comprehensive approach offers clients the advantage of superior risk management advice and risk management services, delivered more economically. Hanover Stone Partners evaluates existing risk programs, guides enterprise risk management initiatives, implements new strategies, and provides unbundled services that help clients reduce the total cost and volatility of risk, protect earnings, and preserve liquidity for their enterprises.
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