Property and Casualty

CMR Risk & Insurance Services Inc. > Blog > Property and Casualty
April 29, 2024

Businesses Are Finding a More Favorable Commercial Property Insurance Market

The spring of 2024 marks a turning point in the commercial property insurance market. After six years of challenging conditions, the market has transitioned and many buyers are now in a more favorable position. As with previous market spikes, this last hard market cycle saw limited capacity as carriers struggled to generate consistent returns on...

February 20, 2024

These Regulatory Changes Could Impact Future Property Claims

The start of 2024 brought a host of changes that could impact property claims, including updates to major codes and guidelines that affect residential and commercial policyholders dealing with new construction, renovations, and replacement HVAC equipment. Adjusters should be aware of new sections in the 2024 International Building Code (IBC) as well as amendments to...

January 16, 2024

Fire Prevention Measures for Idle and Vacant Properties

When properties are left idle or vacant, the risk of fire-related incidents increases. Therefore, implementing a comprehensive fire prevention strategy is crucial. This article explores essential fire prevention measures for idle and vacant properties to ensure the safety of the premises and minimize the risk of destructive fires. Fire Prevention Measures Businesses should consider the...

January 9, 2024

A Return to Balance: Brokers Say Reinsurance Renewals Were ‘Stable’

This year’s January reinsurance renewals were described by brokers as “stable,” “predictable,” “orderly,” “calmer,” “disciplined,” with “increased appetites” and a return to supply/demand balance. What a difference in tone from last year’s grueling January renewals. “In a marked change on a year ago, the supply of property catastrophe reinsurance capacity at the January 1 renewal was...

January 2, 2024

Six Trends Affecting Commercial Property Insurance

Commercial property insurance plays a critical role in protecting the assets of a business. In the event of a loss, this coverage can help businesses replace or rebuild their damaged or destroyed property and restore their operations in a timely manner. As such, it’s crucial for your organization to obtain an sufficient commercial property insurance...

December 29, 2023

Benefits and Risks of Rooftop Solar Panels for Commercial Properties

As solar rooftops become an increasingly common addition to commercial properties, businesses need to be aware of the pros and cons of this technology. While they can provide significant financial, environmental and reputational benefits, they can also present various risks, such as fire and structural hazards. They can also be susceptible to damage from several...

December 1, 2023

10 Tips to Winterize Your Business

As winter approaches, it is crucial for small businesses to prepare for the challenges the season’s weather brings. Whether it’s potential property damage or changes in customer behavior, winter can significantly impact a company’s operations. This article provides 10 tips for effectively winterizing a small business. Being ready for winter weather requires a proactive approach....

November 30, 2023

How Vulnerable to Cyberattacks Are Commercial Buildings?

At first blush, the ransomware attack on Colonial Pipeline(link is external) in May 2021 and a hacker’s attempt to poison the water supply(link is external) in Oldsmar, Fla., in February of the same year may not appear to have much bearing on the safety of the average commercial building. But in reality, most buildings are vulnerable to these types...

November 14, 2023

U.S. P&C Combined Ratio for 2023 Projected at 103.8%

Analysts at the Insurance Information Institute (Triple-I) and Milliman expect the U.S. property/casualty insurance industry to post a 103.8% net combined ratio for 2023, driven by the highest severe convective storm losses in decades. The III and Milliman experts shared their findings during a recent webinar discussing their quarterly report, “Insurance Economics and Underwriting Objections:...

November 3, 2023

Protecting Your Business Against Frozen Pipes and Sprinkler Systems

During the winter season, businesses face a unique set of property challenges, including the risk of frozen pipes and sprinkler systems. These issues can result in costly damage, disruption of operations and potential safety hazards. It is essential to understand which pipes and systems are most vulnerable to freezing, the impact of cold weather on...