Insurance and Risk Management
Here is a summary of NMHC’s research and information on Insurance and Risk Management.
Skyrocketing insurance costs and a growing risk landscape are multifamily’s new reality. Inform your strategy with actual data and analysis. NMHC’s 2023 State of Multifamily Risk Survey and Report with analysis by FHS includes data from 160 individual firm responses with over 1.5 million owned units represented.
NMHC/Coalition Survey Shows Multifamily Insurance Costs Continue to Rise: NMHC, in partnership with a number of other real estate trade groups that represent for-profit and non-profit owners and operators of both affordable and conventional rental housing, undertook a survey representing over 2.6 million housing units on the insurance landscape faced by housing providers.
Federal laws require that apartment owners with federally regulated and insured mortgages on properties in high-risk flood areas purchase flood insurance. However, the private insurance market offers few policy options, often only issuing flood protection policies to high-value properties. To help fill this void, the federal government created the National Flood Insurance Program (NFIP).Learn More
More information on national flood insurance program, in addition to the NMHC/NAA viewpoint.Read More
FEMA releases details outlining the implementation for its Risk Rating 2.0 program intended to modernize the National Flood Insurance Program (NFIP).Read More