real estate
October 9, 2023
Electrical Preventative Maintenance (EPM) Programs Explained
It’s important for businesses to maintain their electrical systems to avoid unexpected downtime, costly repairs and potential safety hazards. That’s where Electrical Preventative Maintenance (EPM) programs come in. By proactively identifying and preventing electrical problems, businesses can minimize risks, increase efficiency and save money in the long run. This article will discuss the benefits of...
September 26, 2023
Trends In Commercial Real Estate: Amenities Drive Leasing Decisions
You might often hear people—especially investors—say, “Well, what’s trending?” or “What are the current trends showing?” Before making any kind of purchasing decision, it’s important to understand how the market is currently behaving and what the projections are for the future. As we are all aware, the commercial real estate industry got a bit rocked...
August 31, 2023
4 Trends Shaping the Casualty Market
No. 1: Inflation is changing the game. After peaking at 9.1% in June 2022 following more than two years of pandemic-induced growth, global inflation has trended down slowly for the last few quarters. Still, inflation remains a concern across the entire property and casualty (P&C) value chain. Naturally, rising costs will have a direct impact on insurers...
August 10, 2023
Navigating the Unpredictable: Key Trends in Catastrophe Claims
Catastrophe (CAT) seasons are increasingly complex to navigate, especially with the surge of non-stop rain and freeze events outside these pivotal periods. What was once a predominately hurricane-focused season has now diversified into more regular, regional weather-related perils, such as windstorms, massive snowfalls and freezing conditions. From the floods in New Zealand this year to the...
July 27, 2023
Water Damage Is a Leading Cause of Commercial Real Estate Claims. How Sensor Technologies Help Mitigate These Claims
Commercial real estate insureds know how painful water damage claims can be. These losses can happen suddenly from a pipe burst after freezing temperatures or they can happen gradually over time from improper installation or deterioration from aging infrastructure. Water damage is one of the most common causes of property loss and is it one of the...
July 7, 2023
2023 Commercial Property Insurance Midyear Market Outlook
The last several years have seen the commercial property insurance market progressively harden, evidenced by ongoing rate increases over the past 22 consecutive quarters. Such rate hikes showed some signs of stagnation throughout 2022 by largely remaining within single digits, according to insurance experts. However, this moderation didn’t last in 2023, as rates surged by...
June 22, 2023
Those New Office Building Amenities Come With Legal Risks
For the past 12 to 18 months, office building owners have been energetically implementing new tactics to attract tenants back to their buildings as the pandemic becomes less impactful. One growing trend among owners is hiring outside vendors to provide added-value building amenities for tenants, such as conference room services, fitness centers with nutritionists, and...
June 7, 2023
Hard Market Conditions Intensify in Commercial Property
Hard market conditions of rate hikes coupled with tightening terms have intensified for June 1 renewals in commercial property, as carriers prevail in a “seller’s market” where new capacity remains scarce, sources told this publication. Even clean accounts in the admitted space are seeing rate increases of 15% year on year, while loss-hit accounts in...
May 25, 2023
Complex Property Risks Create Challenging Market
Economic, social and environmental trends are combining to create significant risks and challenges for property owners and their insurers. Across industries, from manufacturing to real estate to healthcare, some of the same themes are present. These include changing valuations of physical assets and higher replacement costs, supply chain issues, and contingent time element exposures. Supply...
May 18, 2023
Commercial Property Rates Increase, Cyber Rates Moderate
Commercial property and casualty insurance rates rose 8.8% in the first quarter of 2023 (up slightly from 8.0% in the previous quarter) as property outpaced all other lines at an average of 20.4%, according to the latest Council of Insurance Agents & Brokers (CIAB) market survey. As the market entered its 22nd consecutive quarter of...