Insurance, Legal and Risk Mitigation
Here is a summary of NMHC’s research and information on insurance, legal and risk mitigation.
Featured Report
Although 2024 marked the first decline in property insurance rates since 2017, our State of Multifamily Risk Survey & Report highlights that challenges persist, particularly within liability insurance, where rising litigation costs, nuclear verdicts and limited underwriting capacity are driving premium increases.
Eolas Whitepaper: The New Liability Landscape
Discover how two landmark laws are reshaping liability, stabilizing insurance markets, and redefining the future of multifamily risk management.
NFIP Topic Page
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).
Flood Insurance Policy Updates
On June 10, NMHC led a broad coalition of 24 organizations representing America’s housing providers, lenders and residents in sending members of Congress and the Biden administration a letter outlining a number of bipartisan policies to address the causes of rising insurance premiums across the nation’s housing market.
New Report
Rental housing providers in communities nationwide are facing increased insurance costs—but the impact on affordable housing providers is particularly acute. This report, produced by ndp analytics and commissioned by the National Leased Housing Association (NLHA), aligns with other NMHC research that found a staggering 26 percent of property insurance costs increased over the past year.
- Stay Ready: EBRPHA’s Essential Tips for Hurricane Preparedness
- IRS provides Hurricane Milton relief; May 1 deadline now applies to individuals and businesses in all of Florida; many businesses qualify for deposit penalty relief
- FEMA: National Flood Insurance Program Flood Mitigation Measures for Multi-Family Buildings
