Rising Insurance Costs For Commercial Properties Ease, But There’s Still Upward Pressure On Rates

Commercial property insurance rates will continue to rise in 2018, though likely not at the same pace as last year when the country experienced a record number of natural catastrophe losses, reports Willis Towers Watson in its 2018 Insurance Marketplace Realities-Spring Update.

Overall, property and casualty insurers remain well-capitalized, the report said. The industry recovered and recapitalized swiftly following 2017`s record losses — without any insurer insolvencies — thus demonstrating a high level of resilience...

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RSK: This is not good and no doubt will eventually be passed on to the tenant who will eventually pass it on to the consumer. But you have to have insurance as we found out after a fire in our office building. It would have been a complete disaster if we and our tenants did not carry enough. Some did not.