Multifamily owners likely know we are currently in the most challenging insurance market in recent Commercial Real Estate history. Well into 2021, conditions in the overall market have not improved and are continuing to tighten. The hard market is substantially impacting the multifamily sector and portfolios with significant losses and low insurable values.
However, It is not all doom and gloom. Premium increases have begun to slow and stability in parts of the property market are starting to resurface. It is hard to tell when significant shifts are going to take place, but this will hopefully mean positive changes for the future.
Click the button below to view a quick read on both the property and liability marketplace!
Franklin Street Insurance Services is available around the clock to help our clients with any questions they may have in regards to the changing insurance market. Contact us at [email protected] for more details.