Rate increases of "50% to 100% is the number I have heard," the developer says. An unverified industry report has some premiums increasing by 1000%.
Refusing to write terrorism coverage could delay some real estate deals but "I doubt it," Livingston says. "Insurance will be written and deals will be done."
The developer sees the insurance industry's ultimatum to the real estate industry as a pure marketing play.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
