What to expect from commercial property insurance in 2022

The 2022 outlook for this segment is still quite uncertain as severe weather events continue to present challenges for carriers, brokers, and clients.

“We are still going to see increases, but it won’t be as high as we have experienced over the last couple of years,” he stated.

Another challenge Wells mentioned was the lack of capacity in the industry, especially for property driven accounts.

“During the pandemic, there were many people who couldn’t pay rent as they were receiving less revenue,” he noted. “Couple that with shortages on labor and materials, and insurance carriers requesting major increases on insurable

Read More>>