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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.


Next Episode: Understanding Historic Tax Credit deals and COVID-19’s impact

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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.

Meet the hosts:

Donald N. Bernards, Partner at Baker Tilly

Don Bernards, the partner in charge of Baker Tilly’s housing transactions team, has been active in affordable housing since 1999. He is well-versed in tax issues, structuring affordable housing transactions and identifying major risks in a project. He has worked on affordable housing transactions in 26 states.

Garrick Gibson, Partner at Baker Tilly

Garrick Gibson, a partner on Baker Tilly’s housing transaction team, specializes in partnership tax concepts and tax-incentivized real estate for development projects. He uses his 15 years of experience to structure, model and analyze transactions, acquisitions, dispositions and reorganization of real estate, primarily representing developers.

Resource center:

Baker Tilly specialists understand your industry and how an unplanned event such as the COVID-19 outbreak can affect your organization. Visit our real estate coronavirus resources for additional tools and advice.

For more information on this topic, or to learn how Baker Tilly specialists can help, contact our team.

Submit topic ideas and questions here.

Fort Wayne City, Indiana
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