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Category: Condos

Moving Forward with a Successful Risk Management Strategy

It can sometimes seem as if the forces determining your insurance rates are beyond your control. But, as an insurance buyer, it is important to know how your premiums are calculated, what trends influence the market, and what you can do to get the best price. Your claims history—which you can control—has an enormous impact on whether your rates go up or down. That is...

Trends to Watch in 2023

Insurance experts often examine how outside influences and trends affect the insurance marketplace, and businesses should follow suit to determine what factors may impact their insurance coverage. For 2023, the following sweeping market developments must be considered: Labor shortages Supply chain disruptions Inflation issues Recession risks Social inflation concerns Extreme weather events Geopolitical conflicts It is essential for businesses to take a proactive approach to...

Factors Influencing Insurance Rates

The commercial insurance market is cyclical in nature, fluctuating between hard and soft markets. These cycles affect the availability, terms, and price of commercial insurance, so it’s helpful to know what to expect in both a hard and soft insurance market. In addition, other key factors that may influence your insurance rates, including the following: The coverage you’re seeking The size of your business The...

2023 Outlook—A Shifting Market

Since 2019, the commercial insurance sector has been grappling with a hard marketplace—one that is particularly less friendly to insurance buyers. Industry experts anticipate that the commercial insurance space will remain challenging in 2023, although it may present more favorable conditions than it has in prior years for some insurance buyers. In any case, it’s essential for businesses to take a proactive approach to bolster...

Conducting a Condo or HOA Site Inspection

Regular property inspections are an important part of managing condominium or homeowners association (HOA) risks. Thorough inspections increase the safety and well-being of homeowners, protect property values, and reduce the risk of costly repairs and lawsuits. Whether inspecting communal areas of the HOA or a homeowners’ properties, take a comprehensive approach to examine all areas of risk. This may take extra time and effort in...