Business News New Survey Apartment Insurance Premiums Continue To Decrease ; The National Multi Housing Council’s yearly ‘Apartment Cost of Risk Survey’ concludes that apartment companies enjoyed the benefits of lower insurance rates in 2010.The weighted and non-weighted Total Cost of Risk (TCR) fell from 2009 to 2010, decreasing by 14% and6% respectively. The Total Cost of Risk is measured by factoring the three major features that make up an insurance premium – the property, the general liability, plus workers’ compensation.
“Our findings show that it’s a buyers’ market,” commented Jeanne McGlynn Delgado, NMHC’s Vice President of Business and Risk Management Policy. “The momentum of insurance rate decreases accelerated in 2010, following decreases in 2008 and 2009.”
Important conclusions revealed by the NMHC survey are the mean average property cost of risk dropped 11% in 2009-2010 due to the fact property rates have been declining, 66% of apartment companies state that renters must purchase renter’ insurance, and rate drops for property and workers’ compensation pushed the Total Cost of Risk downward. For the latest updates PRESS CTR + D or visit Stock Market news Today
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