Insurance costs fell in 2008 for multifamily firms, although prices may not stay low for long. The total price of insurance fell an average of 17 percent for apartment firms this year versus 2007. Prices dropped across all three types of vital insurance—property, general liability, and workers’ compensation—according to the National Multi Housing Council’s (NMHC) annual Apartment Cost of Risk Survey (ACORS). Still, prices may increase again in 2009 as insurers struggle with lower investment returns, economic uncertainty, and underwriting and capital losses in 2008. An executive summary of the survey is available online (www.nmhc.org/goto/4970).