(Credit: S Hallo/ALM)
Growing costs for construction materials and labor could be driving commercial properties to be undervalued by as much as 30% for underwriting purposes, according to Tüv Süd Global Risk Consultants Corp. A disconnect between reported values and actual values can result in a coverage gap for a commercial policyholder.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
