Thu, 30 August 2018
What could possibly go wrong? If you are the proud owner of a multifamily property, the answers range from minor falls to catastrophic weather events. How can you mitigate the risk and reduce your total number of claims? And what kind of multifamily insurance coverage do you need to manage the circumstances outside your control?
Bryan Shimeall is the Vice President of Multifamily Risk Advisors, a division of Tanner, Ballew and Maloof formed to leverage the firm’s 20-plus years of experience handling insurance for the multifamily industry. Bryan is dedicated to delivering customized solutions that mitigate risk for apartment building investors, and he is an expert in the realm of risk assessment and exposure to loss.
Today, Bryan sits down with me to share his definition of and approach to risk assessment. He discusses the most common gaps in multifamily coverage, the most common property and liability claims, and the best strategies for mitigating risk. Bryan also explains when to pursue a master policy and the fundamentals of catastrophic coverage. Listen in for insight on the benefits of working with a risk management consultant and learn what to look for in a multifamily insurance policy!
The role of Multifamily Risk Advisors
Bryan’s definition of risk assessment
Bryan’s approach to risk assessment
The most common gaps in coverage
How operators can manage risk
The most common claims
The disadvantages of the ‘trailing 12 premium’
The benefits of working with a risk management consultant
How Multifamily Risk Advisors can assist during the acquisition phase
When to pursue a master policy
The fundamentals of catastrophic coverage
The most common mistake among investors
Connect with Bryan