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Lerner Enterprises

Mr. Scott Teitel
SBT Consulting Group
One Park Way
Upper Saddle River, NJ 07430

Dear Scott,

I’d like to take this opportunity to let you know how much I appreciate the value you have provided to Lerner Enterprises. Managing the real estate insurance needs of high-profile properties like White Flint, Tysons II, White Flint North, Washington Square, Dulles Town Center and Tysons Corner Center requires very specific expertise that is in extremely short supply. At SBT Consulting Group not only have we found a reliable source of real estate insurance expertise, but also a group of can do individuals that can dispatch difficult insurance issues and obstacles with real world alacrity.

But working with you and SBT Consulting Group is not just about insurance expertise. On many occasions your review and analysis of our construction contracts and your tenacious negotiation with General Contractors has yielded significant benefits for Lerner Enterprises while blending the need for a good contract with the reality of doing business in the real world.

Beyond our construction projects, we’ve learned to also count on your help in other areas. Your input on the leasing side of our business helps us secure adequate protection for both the tenants and the landlords. Your ability to interface with the lenders has been another key benefit. It’s not just making sure that all the insurance required is in place, but your ability to streamline the process of closing a loan has saved us time, money and aggravation.

Scott, please feel free to share this letter with prospective clients and I’d be glad to act as a reference should you need me to. It has been a pleasure doing business with you and SBT Consulting Group and thanks for your contribution to our present and future success.


Richard H. Lager
Vice President, Finance/Chief Financial Officer

Wilder Balter Partners

From: Gary Friedland
To: Scott Teitel

“We’re an owner, manager, and general contractor. We purchase over $1.5 million in insurance for our companies every year. In a complex changing insurance environment Scott Teitel provides critical expertise and analysis. In a tough market he has generated real competition for our insurance business that has resulted in very substantial savings. His service includes a detailed review of every policy’s terms conditions and exclusions. He makes sure we get the coverage we are paying for and there are no surprises when we have claims. Insurance is too costly, and these days too complicated, to go it alone without an expert on your side.”

Gary E. Friedland
Chief Operating Officer
Wilder Balter Partners Inc.
WB Residential Communities Inc.

The Tower Companies

The Tower Companies

11501 Huff Court North Bethesda, Maryland 20895

TEL. 301.984.7000 FAX 301.984.6033

To Whom It May Concern:

The Tower Companies have been working with UIC, Inc. for the past nine consecutive years. We have witnessed firsthand their abilities and professional skills in analyzing and negotiating insurance coverages on behalf of not only The Tower Companies, but several other companies of similar size and scope with whom we have both personal and financial relationships. During the past nine years, UIC, Inc. has augmented our existing insurance portfolio in the following ways:

  1. Innovative New Insurance Products: UIC has made us aware of new products emerging in the marketplace. Based on their recommendations, The Tower Companies have purchased additional coverages such as miscellaneous real estate errors and omissions, tenant discrimination, employment practices liability and employed attorneys liability insurance.
  2. Coverage Analysis: UIC performed an in-depth analysis of our existing portfolio and provided us with insight to how our policies would work and what was missing. Subsequently, UIC completely reorganized and renegotiated our insurance portfolio, addressing perceived gaps in coverage and other weaknesses.
  3. Premium Reductions: As a direct result of UIC’s professional presentation and negotiations skills, The Tower Companies typically received broader policies, and reduced our overall premiums.
  4. Claims and Claims Management: UIC has given us guidance and worked with us to reduce our exposure to risk and to manage claims more efficiently.

Scott Teitel and UIC continue to be a valuable asset to The Tower Companies. I have confidently recommended their services in the past and continue to do so, as I am certain that they can improve most, if not all, insurance portfolios.


Jeffrey S. Abramson

Weeks Marine

Scott Teitel
SBT Consulting Group
One Park Way
Upper Saddle River. NJ 07458

Dear Scott,

As you know, Weeks Marine is a privately held company that specializes in marine dredging, construction, stevedoring, towing, heavy lifts, salvage, and chartering. The company has been in existence for over eighty years. We have a set way of doing things and have been successfully managing this business in a mature industry with the use of talented management, good acquisitions, and a strong balance sheet.

In addition to the typical lines of business insurance coverage, our organization requires coverage for exposure to marine perils. Marine Insurance, like the industry it serves has been historically complex and arcane as evidenced by its legendary use of Lloyds of London, the first known self-insurance mechanisms, protection and indemnity clubs, and hull and machinery clubs. We needed a firm with a specific knowledge of our industry and we wanted one that had no ties to insurance companies or the brokerage community.

When we retained your firm five years ago, it was not without some trepidation. The firm was well established, independent, and possessed an excellent reputation; however you did not have specific knowledge of our industry. Confronted by your compelling arguments, we decided to take a chance. As a result we have been the recipient of innovation, creativity, and an unmatched work ethic. The bottom line: We saved well over $1,000,000 and obtained broader terms and conditions for many policies in the very first year.

Throughout the years, your firm has not only acquired in depth knowledge of our industry, but has also been able to meld this expertise with the high tech world and address our exposures in a modern light. Your innovative approach to deductibles and risk sharing has helped us to grow without insurers participating in our profits. Year after year your company has demonstrated its worth by allowing us to leverage every opportunity available. You have become a valued asset to Weeks Marine, we trust your sound advice, and embrace your spirited energy.


George E. Wittich
Senior Vice President
Weeks Marine, Inc.

Capitol Investment Associates Corp.

Mr. Scott B. Teitel
SBT Consulting, Inc.
One Park Way, 3rd Floor
Upper Saddle River, New Jersey 07430

Dear Scott:

Thanks so much for figuring out a way to get a blanket property and liability policy covering all the properties in our diverse portfolio.

In my view your accomplishment with our insurance has been equaled only by those of Ivan Brendler and Harvey Goodman during my 40-year real estate career.

Just trying to figure out what coverages we had on so many property types located in multiple states was quite a feat in itself. And, the time and effort we will save in the years to come because of your efforts is something we really appreciate. Should you have any potential clients who you think might like to hear this from me directly, please feel free to have them call me anytime.

Again, we really appreciate the great job you did for us and look forward to working with you for many years.


Bruce D. Lyons

cc: Mr. Harvey Goodman, President

AREA Real Estate Advisors

Re: Scott Teitel

Scott has worked as the exclusive insurance consultant for AREA Property Partners since 2006. Over that time the program has grown exponentially, and the savings and other benefits that Scott has helped us achieve are substantial. Scott handles both our asset level and corporate insurance program to fit our growing needs has been invaluable. Scott works with several groups within the organization and is a trusted resource on all of our insurance needs.

Scott is a valuable member of our team and respected and trusted throughout the organization.

Jason Tighe
US Finance Director

Stuart Koenig
Global CFO & CAO