Well before the devastating collapse of the Champlain Towers, it had become near impossible for oceanfront commercial properties and those located in coastal regions to obtain coverage from Florida licensed carriers. (Credit: Fernando Medina/Shutterstock)
The business of insurance relies upon predictive indicators of risk exposure. So how will a seemingly (and hopefully) rare event like the Surfside condo collapse impact the way that condominium association-owned buildings model? Does the fact that a board of laypeople is tasked with decisions affecting the structural integrity of condo buildings influence the insurability of those buildings? If so, Florida residents will likely see a continued decline in the availability of property insurance coverage from Florida licensed insurers.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 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.
