Hasten McDermott – Shaping the Future of Habitational Insurance for the Thriving Multifamily Industry at Oakbridge

The habitational insurance market, which serves visionary CRE multifamily owners, developers and property managers is incredibly exciting with explosive recent and anticipated annual growth across the country. It is also uniquely demanding as carriers typically work exclusively with a select group of brokers due to the specialized nature of the industry. This exclusivity has enabled Hasten McDermott to build strong, enduring relationships with key carrier partnerships. With his vision aligning with their energy, he has been able to carve out a niche in one of the most technical corners of the commercial insurance market, focusing on a space where only the most experienced and trusted brokers can thrive.

400% Growth in 4 Years

In 2015, Hasten began gaining traction in habitational insurance, where his natural talent for understanding and addressing property owners’ complex needs quickly set him apart in the Southeast region. With an eye for innovation in addressing risk and relentless pursuit of excellence, Hasten’s career flourished. By 2021, he played a pivotal role in forging a partnership with Oakbridge to deliver insurance for the CRE multifamily industry.

From the moment he stepped into Oakbridge in 2021, Hasten’s impact was undeniable. In addition to his own book, Hasten has connected personally with producer colleagues across Oakbridge about their client needs. He is quick to share his knowledge to better serve all clients of the agency. By January 2025, his personal book of business grew by an impressive 400% in only four years, now grossing over two million. This growth reflects not only his deep understanding of the habitational insurance market but his collegial ability to forge lasting relationships and provide customized solutions that meet property owners’ unique needs, making Hasten an invaluable leader at Oakbridge. Hasten acknowledges the credit due to his team that have been with him since the beginning; they are equally as dedicated to maintaining relationships and providing his clients with top-tier service.

A Specialized Focus on Habitational Insurance

Since his early days in the industry, Hasten has intentionally focused the majority of his business on habitational and construction insurance – sectors known for complexity and the need for expertise. This space is unique in that carriers typically work only with a select group of brokers who possess the deep knowledge and experience necessary to navigate the intricacies of coverages tailored to each individual client’s needs. For Hasten, this meant not only mastering policy details but also fostering relationships with an exclusive group of carrier partners.

Hasten’s ability to cultivate these high-level partnerships has been instrumental in helping clients navigate the ever-changing insurance landscape, particularly during the challenging “hard market” period that has plagued the industry since the COVID-19 pandemic. These periods, where insurance availability and pricing fluctuate, often make it difficult for property owners to secure the proper coverage. However, with Hasten’s strategic guidance, his clients have been able to find tailored solutions.

His comprehensive approach has helped property owners from New York to Florida optimize their NOI while safeguarding their investments by restructuring hard-to-place single properties or up to entire portfolios with over 50 locations. Hasten’s goal always remains to find affordable comprehensive coverage for each client, regardless of portfolio size.

Success and Lasting Impact

A hallmark of Hasten’s success is his unwavering commitment to client retention. Since joining Oakbridge, Hasten has retained a lion share of the clients he has worked with in the real estate sector, many of whom have continued to expand their portfolios. His team follows a meticulous vetting process, ensuring they only partner with high-quality clients who share a vision for sustained growth. Hasten has been able to scale his business efficiently, offering each client the time, attention and expertise they deserve.

It’s not about acquiring as many clients as possible; it’s about building lasting relationships with those who value Oakbridge’s personalized approach. This philosophy has proven successful, as demonstrated by one client’s portfolio growth from 400 units to over 2,000 units in three years, all while benefiting from Hasten’s customized insurance strategies. His focus on long-term growth has been key to ensuring that these relationships continue to thrive.

A Bold Vision for Oakbridge’s Real Estate Group

Hasten’s vision for Oakbridge’s future is clear: to establish the company as the preeminent leader in the multifamily real estate sector. He plans to expand his team within Oakbridge, one that is further recognized across the industry for its expertise, innovation and commitment to client success. As the insurance market continues to evolve, Hasten aims to refine and expand coverage options to meet the needs of property owners, particularly as new risks continue to emerge in the southeast. His approach to developing new programs, enhancing coverage options and driving revenue growth will ensure that Oakbridge remains an industry leader for years to come.