Insurance, Legal and Risk Mitigation
Here is a summary of NMHC’s research and information on insurance, legal and risk mitigation.
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.
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.
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