Rahul Ramdev on the Insurance Gap Florida Condo Owners Can’t Afford to Ignore
In the sun-soaked high-rises of South Florida, where ocean views meet luxury living, most condo owners assume they’re well protected. After all, the building has a master policy — what could go wrong?
Plenty, according to Rahul Ramdev, a senior advisor at Marsh McLennan Agency who has helped insure over 500 condominium associations across the state.
“We’ve seen it too many times. A unit owner experiences water damage or a personal liability issue and only then finds out the master policy doesn’t cover it,” Ramdev says. “That moment — when they realize the gap—is one of the hardest to watch, because by then, it’s already happened.”
Ramdev is part of a growing chorus of insurance professionals warning that Florida’s condo owners are significantly underprotected. The issue isn’t negligence — it’s misunderstanding. Master policies cover the building’s structure and shared spaces, but individual units, personal property, and specific liabilities often fall outside that umbrella.
With hurricane seasons growing more intense and insurance premiums continuing to rise, Florida has become one of the most complex insurance markets in the country. For high-net-worth buildings with premium finishes and unique assets, that complexity can turn into real vulnerability.
This is where Ramdev and his team at Marsh McLennan step in.
“We specialize in placing high-net-worth coverage through carriers like Chubb, PURE, and AIG — firms that understand the nuances of luxury living and offer coverage that reflects that reality,” he explains. “It’s not just about higher limits. It’s about flexibility, better claims service, and peace of mind.”
High-net-worth policies, he says, are designed to make people whole — not just partially reimbursed. That might mean broader protections for custom interiors, collections, or bespoke renovations. But beyond the policy details, Ramdev believes service is the true differentiator.
Marsh McLennan, a firm that blends the reach of a global powerhouse with the service ethos of a boutique agency, maintains an in-house Risk and Claims Advocacy team. When a client files a claim, they’re not left navigating paperwork alone — they have someone actively advocating on their behalf.
“That kind of support is rare,” Ramdev notes. “We’re not just placing policies. We’re building relationships and showing up when it counts.”
Still, education remains the most significant gap.
Ramdev regularly holds presentations for condo boards and unit owners, walking them through the building’s existing coverage and clearly outlining where individual responsibility begins. “It’s never a sales pitch,” he emphasizes. “It’s a conversation — one most people wish they had earlier.”
The stakes are only rising. Regulatory shifts, carrier exits, and climate pressures are creating more friction in the Florida market, and the fallout is being felt at the unit level.
“We want to help people make informed decisions before disaster strikes,” Ramdev says. “Because when the unexpected happens, that’s not the time to start reading your policy for the first time.”