Minnesota’s Rental Housing at a Crossroads: Rising Insurance Costs
The Federal Reserve Bank of Minneapolis is hosting a virtual event to examine the pressing issue of increasing property insurance costs within Minnesota’s multifamily housing market. The event, scheduled for March 6, 2025, will delve into the implications for housing affordability and availability across the state.
This event will offer insights into how owners and operators of multifamily rental housing are responding to the rising costs and outline possible policy solutions to mitigate the financial pressures.
Key Questions to be Addressed:
- How have property insurance costs changed for Minnesota’s rental housing providers?
- What strategies are owners and operators employing in response?
- What policy responses could help to curb rising costs and stabilize the rental market?
To quantify the extent of premium and deductible increases, the Minneapolis Fed conducted a survey of multifamily rental owners and operators in the fall of 2024. The event will feature a presentation of these findings, followed by a panel discussion with industry experts.
Event Details:
- Date: March 6, 2025
- Time: 12:00 – 1:00 p.m. Central Time
- Format: Virtual video event
[Register Now](Event Details)
Event Agenda
The event agenda includes:
- Welcome and Introductions (12:00–12:03 p.m. CT) – Speaker: Hue Nguyen, Federal Reserve Bank of Minneapolis
- Presentation of Property Insurance Survey Results (12:04–12:15 p.m. CT) – Speaker: Christina Spicher, Federal Reserve Bank of Minneapolis
- Panel Discussion (12:16–12:46 p.m. CT) – Moderator: Libby Starling, Federal Reserve Bank of Minneapolis. Panelists:
- Commissioner Grace Arnold, Minnesota Department of Commerce
- Aaron Cocking, Insurance Federation of Minnesota
- Steve Minn, Lupe Development Partners
- Laura Russ, Aeon
- Audience Q&A (12:47–12:57 p.m. CT) – Moderator: Libby Starling, Federal Reserve Bank of Minneapolis
- Closing Remarks and Thank You (12:58–1:00 p.m. CT) – Speaker: Hue Nguyen, Federal Reserve Bank of Minneapolis
Featured Speakers and Panelists
The discussions will be led by a panel comprising of key figures in Minnesota’s housing and insurance sectors.
Grace Arnold
Commissioner, Minnesota Department of Commerce
Commissioner Arnold, appointed by Governor Tim Walz, oversees state industries in financial security and energy policy, with a focus on ensuring fair and accessible markets and promoting a clean energy economy.
Aaron Cocking
President and CEO, Insurance Federation of Minnesota
Cocking advocates for property and casualty insurance companies in Minnesota, working with lawmakers on policies beneficial to the industry and its policyholders.
Steve Minn
Vice President and Chief Financial Manager, Lupe Development Partners
Minn brings extensive experience in affordable housing development, with over 40 years in the field and a background in both state and municipal government.
Hue Nguyen
Assistant Vice President, Community Development and Engagement, Federal Reserve Bank of Minneapolis
Nguyen leads the Community Development and Engagement department, working to develop policy solutions for low- and moderate-income communities and tribal nations.
Laura Russ
Chief Real Estate Officer, Aeon
Russ oversees housing development, property operations, and asset management at Aeon, bringing a wealth of multifamily housing experience in both the public and private sectors.
Christina Spicher
Intern, Community Development and Engagement, Federal Reserve Bank of Minneapolis
Spicher supports projects related to housing affordability and labor market institutions. She is a student at Macalester College.
Libby Starling
Senior Community Development Advisor, Federal Reserve Bank of Minneapolis
Starling focuses on deepening the Bank’s understanding of housing affordability, using research and policy analysis to explore solutions for low- and moderate-income families.
