HAI Group has seen an increase in the frequency and severity of several different loss areas. Over recent years, this trend has included a rise in fatal building fires and security-related issues such as shootings and assaults.

A flood is defined as a condition where two or more acres of normally dry land or two or more properties are inundated by water or mudflow. Floods are among the most common and deadliest natural disasters in the United States and affect every region of the country, causing severe property damage each year. Just an inch of floodwater can cause as much as $25,000 in damage, according to FEMA.

We tend to fancy our passwords as undecipherable, but the data clearly shows otherwise: 60% of the breaches analyzed in Verizon’s 2021 Data Breach Investigation Report leveraged weak or stolen passwords. Cybercriminals aren’t just guessing our passwords; they’re making well-informed guesses. They can use several methods and tools to hack passwords, such as programs that record keystrokes, social engineering (e.g., phishing), and password dictionary databases with lists of the most commonly used password phrases.

Insurance isn’t optional for multifamily affordable housing organizations (or anyone, for that matter). To that end, part of our mission at HAI Group is to make the process of securing and using coverage in times of need as reasonable and straightforward as possible for our customers.

HAI Group President and CEO Ed Malaspina recently sat down with iHeartRadio's Renee Dinino to discuss the organization's community initiatives and career opportunities. 

So long as a housing organization has employees, it is likely to face some type of employment practice liability exposure. Fortunately, there are ways an organization can mitigate this type of loss. The first step is understanding the types of claims that can arise if your organization doesn't abide by the applicable state and federal employment laws.

There’s a spine-chilling uptick in cyberattacks—the FBI received a record number of cyber-related complaints last year, with reported losses of over $4.1 billion. A housing organization might not seem like the most lucrative target for a hacker (compared to a billion-dollar private sector business), but criminals are opportunists.

In an era marked by escalating settlement values and growing jury awards due to social inflation, the imperative for affordable housing providers to fortify their liability coverage has never been more pressing.

Despite a housing organization’s best efforts to boost cybersecurity, not all incidents can be prevented. To prepare for and respond to these breakthrough attacks, organizations should develop a cyber incident response plan outlining steps to minimize losses, fix weaknesses, and restore services.

No matter how many precautions your housing organization takes, accidents and incidents are bound to happen. You may feel helpless to an extent, but that couldn’t be further from the truth.