Navigating the Storms: Challenges and Solutions When Insuring Multifamily Home
AUG 23, 2023
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About
On this edition of Agency Nation Radio Podcast guest host Nancy Germond, ARM, AIC, ITP, SPHR, SHRM-SCP, executive director, risk management and education sits down with Karen O’Connor Corrigan, CIC, CIRMS, president, and owner of O’Connor Insurance located in St. Louis Missouri and one of the foremost experts on community associations. Together they provide an update on the state of the multifamily housing market. The Foundation for Community Association Research Factbook reported that 52.9% of U.S. housing was built prior to 1979 leading to aging roofs, failing plumbing, and more.
"The habitational market has long been claim-ridden. High frequency, high severity, you know, the insurance covers accidents that are typically confined to one home, but now imagine it's spreading to your neighbors,” says Karen.
Additionally, the two discuss the complexities of the hard market on both property and liability insurance.
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Meet Our Guests:
Nancy Germond, ARM, AIC, ITP, SPHR, SHRM-SCP
Executive Director. Risk Management and Education
https://www.linkedin.com/in/insurancewriter/
Karen O’Connor Corrigan, CIC, CIRMS
President, Owner, O’Connor Insurance, Missouri
https://www.oconnor-ins.com/
LinkedIn: https://www.linkedin.com/in/karen-o-connor-corrigan-6184569/
Additional Resources:
https://www.independentagent.com/vu/Agency-Management/Sales/Other/GermondHardSoftInsuranceMarket.aspx
Webinar: https://youtu.be/2hj7zgDaLHw
https://www.independentagent.com/resources/SiteAssets/Aluminum%20Wiring%20Explanation.pdf
https://www.independentagent.com/resources/SiteAssets/Big%20i%20Habitational%20Hot%20Mess%20by%20KOC.pdf
https://www.independentagent.com/resources/SiteAssets/CAI%20National%20Survey.pdf
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