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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!

Key Takeaways

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

Multifamily Risk Advisors

Email [email protected]

Resources

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

Deal Maker LIVE

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