Hard Commercial Property Insurance Market Lingers
Debra (Deb) Costa
Strategic Insurance Solutions for Vintners, Growers, and Manufacturers Commercial Insurance Broker | SVP, Vintner Practice Leader | Heffins.com
The commercial property insurance market continues hardening, with average rates up 9.3% in the first quarter of 2023, according to MarketScout. Rates for business properties have been climbing steadily for the last six years, but those increases have grown at a faster clip since the COVID-19 pandemic crippled global supply chains and disrupted economies around the world and as natural disasters increase on both numbers and their destructiveness....
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