The multifamily market is facing down a particularly challenging outlook in 2026. From rising catastrophe losses and tightening underwriting standards to aging buildings and escalating repair costs, insurers are shifting their approach to evaluating multifamily risk. And for insurance agents managing diverse portfolios, securing stable coverage is becoming increasingly difficult and time-consuming.
In a recent interview with Insurance Business, Casey Carter, VP at REInsurePro Risk Management, revealed that the company is committed to helping shift this narrative, beginning with how the team handles rising loss frequency and its subsequent underwriting approach.
“At REInsurePro, we view claims more as behavioral signals or patterns, rather than isolated events. A claims’ impact on pricing, at least from a high level, is largely based on whether they're preventable or not. After all, you can't just pick your house up and move it.
“Repeat claims, especially if they are preventable, are a much larger issue. At REInsurePro, we want to be able to assist agents in finding the correct coverage for their investors’ portfolios or their multifamily homes as best we can. That’s why we utilize multiple carriers with different risk appetites so that our agents can place those schedules with carriers that have a higher risk tolerance for different losses.”
When it comes to underwriting for multifamily properties, the process can be more complex. With these types of properties, insurers have to look out for age-related issues, wind exposures, and even increasing wildfire risks to name a few. As Carter told IB, at REInsurePro they evaluate all risks during the proposal and application process so as not to waste the agent’s or the investor’s time.
“We ask very specific questions when it comes to deferred maintenance or whether there's any damage to the property,” he told IB. “Is the property kept in a well-maintained status? Are there any existing damage or maintenance issues? Say, for example, the property is under renovation - when are the repairs going to start? That way we get a timeline of how long the unrepaired damages [will remain unresolved].”
Essentially, Carter and his team of experts evaluate the risks without the need for unnecessary inspections which tend to eat up time and energy.
“We would rather investors spend an extra minute answering a few more underwriting questions up front than hours dealing with those repercussions later,” he told IB. “From there, we also utilize tools that provide current images and hazard-scoring data to further solidify our understanding of the risk presented for coverage.”
It’s an intricate yet speedy process that REInsurePro has honed into a fine art. And it’s something that agents and investors alike appreciate, especially when it comes to assessing historical or aging properties that may raise insurability concerns.
“We really pride ourselves on making the process as easy as possible for all parties,” Carter told IB. “At REInsurePro we don’t apply blanket age cutoffs that would automatically limit insurability. Aging properties are evaluated based on their individual risk profile. This allows well-maintained and older complexes to remain competitive alongside newer assets without being subject to automatic exclusions.”
With that said, Carter is quick to point out that REInsurePro does have certain age restrictions on Ordinance or Law coverage, which is underwritten with specific considerations in mind, including reflecting increased exposure with building code compliance on older constructions.
“Overall, our program really emphasizes that asset condition and risk management practices are what we prioritize over age,” added Carter. “It allows flexibility and stability for agents navigating a tighter insurance market.”
The size of multifamily properties is also something that insurers must grapple with in this market. As Carter told IB, REInsurePro’s innovative platform allows multifamily properties to be placed under one monthly billing schedule.
“With an individual asset, even if it's a smaller complex with more than one building, this allows us to drill down into each one of these locations to assess crime, wind, and fire and create suppression scores of each. We do all this up-front with our underwriting being completed prior to the quote and offered regardless of what the owning entity is. This is to make things easier for the investor.”
And, in terms of occupancy, Carter is clear that they love to see occupied locations with their program primarily consisting of them - however they don’t discriminate against vacant assets of those under renovation.
“We accept those locations too,” added Carter. “We allow them to put those properties on the same account as all their other locations. [Essentially], portfolio diversity for investors is truly what makes REInsurePro the juggernaut we are today. With us everything is in one place too, regardless of size or owning entity.
“REInsurePro gives agents the flexibility to put everything under one account making each investor’s portfolio composition as flexible as the insured needs for their investment strategy.”
