Florida Condo Property Market Experiences Seismic Shift

Florida Condo Property Market Experiences Seismic Shift

The past eighteen months has been a “whirlwind” for the Florida condo market. Just over a year ago, the Surfside Champlain Towers South condo outside of Miami Beach collapsed. This October we saw the devastating effects of Hurricane Ian, which pummeled the Florida coast, costing estimated losses of up to $57 billion. These two major events, in...

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The What, When and Why’s of Stock Throughput Policies

The What, When and Why’s of Stock Throughput Policies

If your client’s business involves assembling, importing, exporting, manufacturing, transporting, and/or distributing goods—a Stock Throughput Policy (STP) may be needed to cover their risk exposure.  What is a STP A STP is a form of marine coverage that protects a company’s goods throughout the global supply chain- from creation to final...

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Top 4 Cities at Highest Risk from Hurricanes

Top 4 Cities at Highest Risk from Hurricanes

A new report shows that New York, Miami, Tampa and New Orleans have the highest risk of heavy property damage from hurricane storm surges. Your clients in these areas need to pay particularly close attention to their insurance policies to ensure they have the protection that they will likely need. As this recent Insurance Journal article...

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Wildfire Insurance Costs are Heating Up

Wildfire Insurance Costs are Heating Up

An average of 70,000 wildfires are set ablaze across the United States each year. What's even more steep is the rapid growth trend of the average insurance payout when a wildfire occurs. Take California for example: between the years of 1964 and 1990, the average wildfire cost less than $100 million. That payout amount increased to about $600...

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How Rising Sea Levels Will Impact Property & Environmental Insurance

How Rising Sea Levels Will Impact Property & Environmental Insurance

Climate change has been making headlines recently, and now experts predict that global warming will lead to substantial sea level rise in the coming years. In fact, scientists are forecasting a one-foot rise in sea level over the next 30 years. To put this into perspective, government agencies including NASA, NOAA, and USGS, anticipate that the...

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December Tornadoes Push Insurers’ 2021 Weather Bill Over $105 Billion

December Tornadoes Push Insurers’ 2021 Weather Bill Over $105 Billion

Climate change is gradually leading to more frequent and disastrous weather events throughout the country. Most recently, tornadoes occurred out of their typical season with rarer intensity and longer storm paths. They left behind a trail of devastation and death, leveled homes and businesses, and caused roughly $5 billion in insured losses...

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The True Cost of Inflated Lumber Prices

The True Cost of Inflated Lumber Prices

Homeowner-hopefuls dreaming of their forever home may have to put those dreams on hold—or spend more than initially anticipated. Lumber shortages over the past 18 months and low housing inventory have made buying or building a new home far more expensive than what any of us could have predicted at the onset of 2021. And although some of the...

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