BuzzHouse: Increased multifamily property insurance rates are causing developers to become strategic

Baker Tilly’s podcast series specifically for professionals in the multifamily housing industry

As the insurance market hardens, pricing on average is up approximately 15-25% higher than it was this time last year. In addition, the insurance market isn’t expected to get any better over the next two years. We asked insurance specialists from M3 Insurance to join us to talk about what multifamily housing developers and owners can do to control their rates and get the best terms and pricing from insurance companies. Brad Winchester and Isaac Bechen offer advice on how to align with your insurance provider and initiatives to think about as you strategically plan for the future.

Special guests

Brad Winchester, Account Executive at M3 Insurance

Brad serves as M3 Insurance’s director of the construction and real estate practice -- specializing in property and casualty insurance and risk management strategies for construction and real estate clients. He serves as a subject matter expert, strategist and thought leader in this area and is responsible for sharing information on trends and issues that specifically impact this practice.

Isaac Bechen, Senior Account Executive and Partner at M3 Insurance

Isaac’s primary role at M3 Insurance is to advise construction companies, developers and owners on property casualty insurance and surety bond coverage needs. He evaluates contractual risk transfer provisions to protect clients from unforeseen loss or liability, counsels existing clients about risk management strategies, and places insurance policies. Isaac also serves as M3’s director of the construction and real estate practice.