Real Estate
October 31, 2022
Duties in the Event of a Commercial Property Loss
Most people understand that insurance companies have a duty to reimburse insureds for commercial property damage not excluded by their policies. What’s lesser known is that if a loss does occur, insureds also have duties they owe to their insurance company. Many commercial property insurance policies include language detailing steps that must be taken following...
October 28, 2022
Preventing Slips, Trips and Falls During Winter
As temperatures begin to drop, walkways can quickly become hazardous due to snow and ice. Winter slips and falls at businesses are common sources of injuries for visitors and employees alike. As an employer, it’s crucial to maintain the safety of your property and keep your employees and visitors safe. Whether you take care of...
August 1, 2022
Construction Safety Professionals Struggle to Prevent Fall Hazards
Earlier this month, the Occupational Safety and Health Administration announced a new initiative to conduct surprise safety inspections for fall hazards. A day later, the agency announced $32,113 in fines for a Florida construction company where a 19-year-old worker died after falling from a clubhouse roof. The fines were far from unusual, but the juxtaposition...
July 27, 2022
For an Edge on Office Leasing, Get Health Conscious
A research note out of Marcus & Millichap on the office market claims there are “bifurcated fundamentals.” Central business district (CBD) offices are seeing faster climbing vacancy rates than those in suburbs, so preliminary second quarter data suggests. What’s causing the unhealthy disparity? Concerns about health. “This is in part due to the increased emphasis...
July 13, 2022
2022 Midyear Market Outlook: Commercial Property Insurance
The commercial property insurance market has hardened in recent years, with consistent rate increases since the third quarter of 2017. These rate increases were evident in the beginning of 2022, with first-quarter rates rising by an average of 7.6%, according to industry data. Similar pricing trends occurred in the reinsurance markets during the same period...
July 12, 2022
The Hybrid Workplace is Here to Stay
One of the largest changes brought about by the COVID-19 pandemic to the workplace was the popularization of remote work. Industries that previously operated solely from offices realized almost overnight that they could operate without everyone under a single roof. With the pandemic on the wane and restrictions being eased, many workers have expressed interest...
July 8, 2022
How to Stay Cool in the Summer Heat
All heat-related deaths and illnesses are preventable. Yet, an average of 658 people die each year as a result of exposure to extreme heat. The summer before last, the National Center for Atmospheric Research (NCAR) did an in-depth study on heat exposure. It revealed that more than one-quarter of the U.S. population suffered from symptoms such as nausea,...
June 30, 2022
Business Owners: Consider These Steps to Ward Off Wildfire Damage
The record heat in 2021 was damaging, particularly in the West and Pacific Northwest. As droughts became more frequent, it increased the likelihood and severity of wildfires, putting property at risk of extensive damage. While it was clear wildfires could cause significant losses, the wildfire season seemed to be getting longer. In fact, in December...
June 28, 2022
Builder’s Risk – Construction Projects Rush to Plug Cover Gap
Supply chain challenges and inflationary pressures have left contractors and developers with soaring insurance costs amid a scramble to extend cover for delayed projects. The cost of some materials has surged since the onset of the coronavirus pandemic, while an underwriting expert told Insurance Business that supply chain delays have meant policyholders may require an extension of...
June 15, 2022
The Shifting Workplace – The New Must-Have Amenity Spaces
The pandemic has brought on a new set of unexpected challenges for the Commercial Real Estate Industry. As many employers are urging their staff to head back to the office, they are being met with hesitancy, some reluctancy, and in the worst-case scenario, resignations. The pandemic has re-aligned workplace culture, and employee values, and has...