MIAMI—Lenders have changed their practices in the wake of major storms. Do insurance rules need to change also?
As discussed earlier in this series, owners and buyers of multifamily housing are experiencing sticker shock when they refinance, sell or purchase properties. Insurance premiums have jumped as much as 25% because of the broadened insurance requirements set forth by lenders.
GlobeSt.com caught up with Ryan Cassidy and Evan Seacat, both senior directors at Franklin Street Insurance Services, to get some insight into how multifamily owners and buyers should adapt in this new environment in part four of this series. You can still read part three: How Multifamily Lenders Are Changing Their Practices.