Parity Baltimore Inc Engages Wye River as Their Preferred Insurance Partner
Baltimore, MD—June 1, 2024—Parity Baltimore Inc. has chosen Wye River Insurance to aid them in insuring their Baltimore renovation project.
Located in historic West Baltimore, Parity is an equitable development company, looking to strengthen the community through purchasing abandoned properties, rehabilitating them, and then creating affordable home ownership opportunities. The goal is to revitalize this historically rich area, without displacement, and create opportunities for wealth generation and property ownership, bringing people together with a sense of belonging and pride in their neighborhood.
In order to insure such a worthy and complex undertaking, Parity founder Bree Jones chose Katie Santarelli, the president of Wye River Insurance, to represent Parity in the insurance marketplace and create a construction and operational insurance program for the project.
Bree and Katie met at the Greater Baltimore Leadership Committee a few years earlier. Eager to support the initiative, Katie worked with associate Tyler Smith, Wye River Client Executive, to market and place coverage for Parity. Smith, who’d had previous experience with Baltimore City non-profits, shares that “It’s truly been an honor to work with Bree, a true visionary and talented leader in Baltimore.”
Through diligence and creativity, the Wye River team helped Parity summarize their risks and place multiple policies, including workers compensation, directors & officers, products & completed operations, owner’s interest and builder’s risk. After a detailed risk assessment and implementing several policies, Parity can focus on their true purpose of rebuilding Baltimore for the better while Wye River manages their risk.
“It’s rewarding,” Tyler adds about the project, “to be able to contribute to an inspiring company, dedicated to a cause like better housing. In playing our part and doing what we can, we met good people, doing good things, and showing their care for the city and its citizens.”
Parity is looking to stabilize twenty properties by mid-summer 2024 and Wye River Insurance will continue to support their insurance needs as they change and evolve.
