Property insurers are not raising coverage limits and rates to keep pace with inflating construction costs, according to a Moody’s Investors Service report. Rising costs for construction materials and labor means elevated loss severity for insurers because repair and...
Employee Quits Reach Record High in March The U.S. Bureau of Labor Statistics (BLS) recently released its March Job Openings and Labor Turnover Summary. Notably, the number of quits increased to around 4,536,000 in March, up from approximately 4,384,000 in February....
Rising Property Replacement Costs Commercial property losses and insurance premiums have significantly increased over the past two years due to environmental and economic factors. Undervaluation of the replacement costs for a damaged building or equipment can also be...
Commercial Property Insights Over the last several decades, natural disasters have become a growing concern—increasing in both frequency and severity. These disasters can cause significant property damage and claim numerous lives. According to the National Oceanic...
Over the past year, inflation has become a growing concern. Inflation issues have resulted mainly from a culmination of labor and supply trends brought on by the COVID-19 pandemic, and they are clearly reflected within the country’s rising Consumer Price Index (CPI)....
Commercial Insights Aging Buildings: HVAC Systems Heating, ventilation and air conditioning (HVAC) systems are integral to achieving thermal comfort and acceptable indoor air quality in buildings. As a building ages, its HVAC system must be maintained and updated to...
