Commercial Property Insurance Heading North

Feb 06, 2013 No Comments by

Commercial property insurance rates are expected to increase 5% to 7% in South Florida this year.

While our geographic location and exposure to hurricanes are mainly to blame for the increase, global insured losses in 2012, which are expected to reach $65 billion to $70 billion, will also play a role.

Hurricane Sandy, drought, severe storms and tornadoes contributed to those losses.

In 2012, commercial property insurance rates in South Florida rose an average of 3% to 5%, caused by global insured losses in 2011 totaling $115 billion, according to Swiss Re Group, a wholesale provider of reinsurance, insurance and other insurance-based forms of risk transfer.

Cyper, executive risk, workers compensation and general liability are anticipated to remain flat.

 

Source:  Miami Today

Go Ahead...Share!
  • email
  • Facebook
  • LinkedIn
  • Twitter
  • Add to favorites
  • Print
Industrial / Flex, Industry News, NA, Office
No Responses to “Commercial Property Insurance Heading North”

Leave a Reply