Welcome to MBA.

If you would like to join MBA in conference calls regarding any commercial/multifamily insurance issues, please contact Deborah McKinnon for further information at dmckinnon@mortgagebankers.org

• At the request of the commercial real estate finance industry, developed a Significant Insurance Event Report . This report has been created to provide consistent and transparent information to all interested stakeholders at the time of a significant event which includes but is not limited to hurricanes, floods, tornados, wildfires, hazardous material events, terrorist acts. This report is most appropriately used immediately following a catastrophic event that has financial and/or structural impact to numerous commercial properties.
  
• MBA releases Due Diligence for Force Placed Insurance on December 11. Click here to download the full document. For more information please contact Katie Schwarting at kschwarting@mortgagebankers.org.
  
• MBA releases Natural Catastrophic White Paper: The Commercial Real Estate Finance Perspective on September 25. Click here to download the full document. The White Paper provides comprehensive information on all aspects of natural disaster insurance, including the effect of disasters on the insurance industry, the types and geographic occurrence of disasters, the current regulatory framework impacting insurance delivery, insurance availability and affordability and the impact on the CREF industry. For more information please contact George Green at ggreen@mortgagebankers.org.

• MBA Hosted Conference Call on the feasibility of probable maximum loss (PML) studies for the effects of Windstorms on commercial buildings, 10/11/06
  
• Notice to members - Change to ACORD 28, Evidence of Commercial Property
  

Insurance Legislation

Federal Level

• Governor Marc Racicot (R-MT) Speech on Financial Risk of Natural Disasters, 8/22/2006
  
  
• Claiming a crisis for coastal residents, House lawmakers have introduced a bill that would establish a national commission to examine whether the federal government should act as backstop for insurers in bearing costs for natural disaster claims, GovExec.com, 8/2006

State Level

Update on Florida's Commercial Joint Underwriting Association (JUA):

• Florida Lieutenant governor talks on insurance, 10/0/6/06
  
• Florida's residual market for commercial insurance is closer to realizing its plan to provide coverage for businesses with property valued under $1 million that can't obtain coverage in the private insurance market. Clike here to view article, 9/7/06

Insurance Availability

• Counsel for Insurance Agents & Brokers (CIAB) - Prices up, capacity down for Cat exposures; other commercial markets soften, Council survey shows, 8/23/06
  
• Bernie Brown's Memo on Availability
  
• Residual Market & Property Insurance (Wind Pools) – Update on Availability (December 2006), Insurance Information Institute

Article

• The CIAB, AON urge action on permanent terrorism insurance solution with federal government involvement, 9/27/06
  
• Ala. Coastal Property Owners Facing More Insurer Restrictions - Insurance Journal, 10/10/06
  
• Hurricane Center Identifies 10 Most Hurricane Vulnerable Areas, 10/18/06
  
• Court Upholds Juries' Rulings in World Trade Center Claims, 10/19/06
  
• P/C industry warned: Major threats remain, 12/05/06
  
• A Dream Blown Away: Climate Change Already Has a Chilling Effect on Where Americans Can Build Their Homes, 12/02/06
  
• What Went Wrong? At the beginning of the 2006 hurricane season, forecasters predicted an “active” season. It turned out to be a dud. Risk managers weren't much surprised. 12-01-06
  
• Citizens may raise wind insurance rates again, 11/17/06

Studies and Reports

• Moody’s Hurricane Report, 10/5/2006
  
• Climate Change and Insurance: An Agenda for Action in the United States” by Allianz and WWF. According to a new report issued by Allianz and WWF, climate change poses serious risks to insurers and their customers in the US. Insurers can do more to address risks and ensure affordable coverage for consumers. Please click here to view the report, October 10, 2006.

• MBA Terrorism Insurance Resource Center

• The Louisiana Citizens Property Insurance Corporation