Blog Tag: real estate risk management
Life can change in an instant. Residents, business owners, ranchers and farmers across Nebraska, Iowa and surrounding states are currently coping with this reality. Historic flooding has devastated our region, sweeping away homes, buildings, roads and pastures. The destruction is unlike anything we’ve seen and it has directly affected our family, friends, clients and colleagues. As I write this, my own home is sitting in water up to its roofline – and there’s nothing I can do but watch and wait.
While 2017 was mostly a buyers’ market for commercial property insurance, rates are currently on the rise. From hospitality and storage to development and habitational, the commercial real estate insurance market is firming up. Carriers are responding to natural disasters, including hurricanes Harvey, Irma, Maria and Florence, as well as recent California wildfires. Events like these have significantly affected the insurance industry, with global insured losses totaling well over $100 billion in 2017 alone.