"In this calendar year specifically, the increases are at 30%-50% on average, and also difficult for larger projects to even get the capacity, meaning enough insurance limits to cover the building or project," said Jim McCue, COO of NSI Insurance Group. (Credit: MarekPhotoDesign.com/Adobe Stock)
As a result of Hurricane Ian, as well as a number of Florida insurers going bankrupt or leaving the state, there's significant concern among commercial property owners that insurance rates will continue to rise.
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Melea VanOstrand
Melea VanOstrand oversees the Daily Business Review as ALM's Florida Bureau Chief. Email Melea at [email protected] or follow her on her Twitter or Facebook pages.
