As mandated renter's insurance programs proliferate in the apartment sector, operators look to tactics from the auto and mortage industries to fill coverage voids.
New York-based specialty insurance provider Assurent has acquired SureDeposit, a provider of alternatives to resident security deposits.
Experts like Wadsworth say many multifamily firms—particularly those without risk management units—are not likely to fair as well with renewals this year as property and liability insurance costs continue to increase due to the overall weak economy.
On the heels of the 2009 hurricane season, a coalition of insurers, public officials, risk experts, builders, and conservation groups have released a blueprint of policy changes and common sense actions likely to reduce hurricane-related economic losses along U.S. coastlines by as much as half.