X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
<b>Apartment owners</b> are feeling outsized impact from umbrella insurance market turbulence, with <b>rates growing triple digits</b> in some instances. (AP Photo/John Minchillo) Apartment owners are feeling an outsized impact from turbulence in the umbrella insurance market, with some property holders seeing  rates growing by triple digits. (AP Photo/John Minchillo)

Right now, commercial property owners are dealing with rising rates in both property and liability insurance. 

“In the past eight months, the umbrella rates have gone up, and that’s attributable to the financial capacity available in the market,” said Garet Marr, director of Insurance Services for Franklin Street, which has an insurance portfolio of 400,000 multifamily units and 30 million square feet of commercial space. “There’s a low-interest-rate environment, and carriers depend on that for investment purposes.”

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • 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?

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.