When we explain that market cycles in the economy affect insurance companies, most of our clients and prospects tells us that insurance companies make too much money and that a downturn in the economy is just an excuse to raise rates. Well, for the most part, rates have remained relatively stable in 2009.

Reinsurance "tightening" was a concern early in 2009. The "tightening" was caused by a shrinking availability of reinsurance. Luckily, pricing increases in 2009 have been isolated to properties very close to the water and with older construction. Many newer inland properties experienced flat renewals or reductions in pricing. It is good to have the marketplace offer increases and reductions - it shows that carriers are truly underwriting and bracing for the next round of hurricanes.

Our firm has been able to pick up a number of new clients due to specialty programs available to us. If we can help you or anyone you know just by chatting on the phone to determine their current position, please give us a call.

Your Multi-Family Property Insurance Contacts: Rob Stephenson & Jeremy Burr
Rob Stephenson: 407-925-0932; rob.stephenson@insuredapartments.com
Jeremy Burr: 407-998-5427; jeremy.burr@insuredapartments.com