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You are here: Home » Resources » Articles » Premium Price Tags: Insurability Through Resilience

September 18, 2023

Premium Price Tags: Insurability Through Resilience

By Bob Geiger

By gathering key property data and providing proper documentation to insurers, CRE owners may be able to secure reduced premiums and/or coverage for properties in high-risk areas.

Published in Summit, Issue 13, by Bob Geiger, Principal & Executive Director at Partner ESI

It’s no secret the US property insurance market is in crisis and costs are at an all-time high. Natural disasters and climate-related events have led to over $100 billion in insurable losses annually for the past five years. Premiums have doubled, and in riskier areas, risen by 500. In addition, replacement costs have increased due to rising construction material costs and labor shortages. Underwriting is also challenging, with higher levels of scrutiny required to establish insurable value and assess risk. Some assets, particularly those in coastal or disaster-prone areas, may not be insurable at all.

Fortunately, there are tools available to support commercial real estate (CRE) investors and property owners seeking the coverage they need. A multi-disciplinary valuation approach can support accurate replacement values. By gathering key property data and providing proper documentation to insurers, CRE owners may be able to secure reduced premiums and/or coverage for properties in high-risk areas…

Read the full article.

About the Authors

Bob Geiger

Bob Geiger

Chief Revenue Officer
As Partner’s CRO, Bob Geiger has over 25 years of experience focused on engineering and environmental services. Becoming the most trusted provider for due diligence and delivering integrated solutions services for asset management related to building systems, new developments, and environmental liabilities is the audacious business plan Mr. Geiger is uniquely adept at directing. He provides national strategies for supporting complex clients in commercial real estate, corporate occupier, and public sector markets. Mr. Geiger has a particular focus on combining our multidisciplinary team members in integrated real estate assessments and solutions related to building systems. He speaks and writes regularly about real estate due diligence trends as well as developments in facilities management. A Midwest native, Mr. Geiger helps direct Partner’s Chicago and Lombard offices.

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