MONDAY, JULY 18, 2011
Weather related losses in the US are already surpassing $15 billion this year – that’s 3 times the annual average! The number of predicted tropical storms is also higher than average. In addition, a new hurricane weather model was published this year showing an increase in inland wind damage. The current losses and the new model have underwriters taking another look at catastrophe-exposed commercial risks - and adjusting premiums. Reinsurers are also increasing their commercial rates. So be prepared - although commercial property rates have been fairly flat, they may increase 5% to 10% and include tighter terms and conditions.
Posted 4:55 PM
No Comments
Post a Comment |
Required
|
|
Required (Not Displayed)
|
|
Required
|
All comments are moderated and stripped of HTML.
|
|
|
|
|
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only.
It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional
in your state. By using this blog site you understand that there is no broker client relationship between
you and the blog and website publisher.
|