The insurance market for multifamily portfolios has transformed significantly in the past few years. This market shift was inevitable based upon losses and the prior soft market, but the resulting change has been more severe and continued longer than initial expectations. In order to better educate and prepare our clients for what to expect moving forward we have prepared our Midyear 2022 Multifamily Insurance Report, which addresses the cause of this continuing hard market and the resulting effects.
In this report, we explore:
- How macroeconomic trends such as inflation, rising interest rates, ongoing supply issues are impacting property valuations and insurance premiums.
- Recent changes in underwriting guidelines, capacity deductibles, rates, reinsurance, results, etc.
- Factors contributing to today’s “hard” insurance market and whether we can expect a change in trajectory.
- Concerns over the inability to accurately model for natural catastrophes.
- FEMA’s new risk rating method for National Flood Insurance, Risk Rating 2.0, and its impact on multifamily owners.
Download Franklin Street’s full Q2-22 Multifamily Insurance Report below: