Real Estate
May 31, 2022
How Technology is Helping Lower Risks in Construction
Construction projects are becoming more complex, while the timeframes to complete them are shortening. On top of these challenges, supply chain troubles and labor shortages are raising the potential risks for builders, insurance industry sources tell PropertyCasualty360.com. “Each of these factors can increase business expenses and insurance rates, which underscores why it’s more important than ever for...
May 27, 2022
How Office Landlords Digitally Protect Their Tenants
The phrase “secure building” may evoke an image of a looming windowless fortress, defended by an armada of steely-eyed security guards and a tapestry of barbed-wire fencing. But most office buildings don’t share that kind of dramatic appeal. In this digital era, security for many buildings comes in the form of protection against hackers. Previously,...
May 25, 2022
Construction Costs Outpacing Property Rate, Limit Increases
Property insurers are not raising coverage limits and rates to keep pace with inflating construction costs, according to a Moody’s Investors Service report. Rising costs for construction materials and labor means elevated loss severity for insurers because repair and replacement work are more expensive. “Higher costs for construction materials and labor have caused elevated loss...
May 18, 2022
Why Are US Commercial Insurance Rates Continuing to Climb?
A new report from the American Property Casualty Insurance Association (APCIA) has looked into the impact of inflationary pressures on commercial lines insurance in the US and identified three main drivers of commercial insurance rate increases. “Insurers and agents continue to look for ways to reduce costs while still meeting all obligations to policyholders, but as claims...
April 26, 2022
Office Risk is Increasing as Workers Continue to Prefer Remote Options
Since the initial wave of the COVID-19 Omicron variant started to subside, people have begun to return to the office in larger numbers than we have seen since the start of the pandemic. But office owners are still trying to define “return.” In our 2022 commercial real estate trends overview, we explored the on-going struggle between...
April 13, 2022
OSHA Launches Program to Protect Workers From Heat Hazards
On April 12, 2022, OSHA launched its National Emphasis Program (NEP) for protecting workers from heat hazards in indoor and outdoor workplaces. Through the program, OSHA will conduct heat-related workplace inspections before workers suffer preventable injuries, illnesses or fatalities. The NEP is effective on April 8, 2022, and will remain in effect for three years...
March 30, 2022
What to Expect From Commercial Property Insurance in 2022
Commercial property rates have seen double-digit increases for two straight years and Gary Wells, managing partner at The Liberty Company Insurance Brokers, does not foresee a notable drop any time soon. The 2022 outlook for this segment is still quite uncertain as severe weather events continue to present challenges for carriers, brokers, and clients. “We...
March 1, 2022
5 Trending Captive-Insurance Considerations for 2022
If 2020 and 2021 showed us anything, it’s that the unexpected can and will happen — whether it’s a global pandemic, a cargo ship blocking one of the world’s busiest trade routes or a storm creating a widespread power outage. These unforeseen risks are difficult to predict and insure against, which made captive insurance, with its ability...
February 24, 2022
The 4 Biggest Hybrid Work Challenges for Office Landlords
The switch to hybrid working for corporate occupiers seems inevitable now. Even as other activities like travel and entertainment have bounced back after the Omicron surge, office attendance hasn’t. But just because employees seem to want hybrid work, that doesn’t mean companies have it all figured out. That might be because there’s no one-size-fits-all roadmap for...
February 8, 2022
10 Emerging Risks to Watch
Insurance Journal examined industries experiencing changes and a few challenges due to the COVID-19 pandemic, economic forces and tough insurance market conditions in 2021. Here are 10 industry sectors that could see new and emerging risks in 2022 and beyond. Cyber Like the risk itself, the cyber insurance market is constantly changing and keeping carriers...