California Software Firm Acquires Multifamily Insurance Group of Dallas

August 17, 2011

Santa Barbara, Calif.-based real estate management software firm Yardi has acquired Dallas-based Multifamily Insurance Group (MIG) in a move that allows it to provide renters insurance to its property owner clients.

Yardi will now offer insurance coverage through MIG’s ResidentShield for personal liability, personal property and living expenses for losses caused by fire, theft and other unexpected events through a single platform that also provides rental pricing, online resident services, utility billing and resident screening, according to Gordon Morrell, executive vice president and chief operating officer for Yardi.

The company said MIG principals Trip Stanford and Mike Composono have joined Yardi’s newly-formed insurance division.

MIG has sells renters and liability insurance for apartment residents via its insurance program, ResidentShield.

Yardi Systems offers real estate investment management and property management software.

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