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You are here: Home » Resources » Articles » Insurability Through Property Resilience Data

March 25, 2024

Insurability Through Property Resilience Data

By Jessica Wright, LEED AP, TRUE Advisor

Fine-Tuning Resilience Assessments

By Jessica Wright | Published in the NAREIM Dialogues, Spring 2024 edition p. 20-22

The exponential increase in insurable losses due to natural disasters and severe weather events has led to a crisis in the property insurance market, with premiums skyrocketing and policy cancellations, especially in coastal regions. In addition, rising construction costs and labor shortages have resulted in higher replacement values. For the commercial real estate (CRE) industry, the insurance crisis impacts how and which deals get done. Insurability and insurance premiums are now a priority consideration in acquisition underwriting.

In this article, Jessica Wright discusses how investors and insurers demonstrate resilience, quantify risk with customized data, and how firms can ensure they give the best possible underwriting presentation.

Read the entire NAREIM Dialogues issue.

About the Authors

Jessica Wright, LEED AP, TRUE Advisor

Jessica Wright, LEED AP, TRUE Advisor

Technical Director ESG & Climate Hazard
Jessica Wright, LEED AP, TRUE Advisor, Technical Director for Partner Energy's ESG and Climate Hazard Property Resiliency team, is a consultant focusing on focusing on property resiliency design and operations for Debt and Equity partners through in-depth analysis of property-specific climate hazards, building resiliency, and emergency management planning. Jessica is a consultant with more than 14 years of operational management, 8 years of construction, and 11 years of success in strategic sustainability and resilience planning for large organizations and institutions. She has provided clients in the public and private sectors with innovative and strategic program plans for implementing Corporate Sustainability Management, Climate Hazard resiliency plans, Zero Waste, and ESG reporting compliance. Jessica leads a team on physical and transition risk consulting. The emerging focus on transition and physical risks highlights the challenges in developing practical and cost-effective solutions for investors to address climate risk mitigation for property and economics. The intentional creation and adaptation of property resiliency recommendations provide clients with tools for future planning and financial risk mitigation.

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