Can Inflation Factors Help “Average Up” Your Book?
Inflation highlighted a flaw in property valuations. The 20% price increases on home construction are magnified by a 50% error on the base.
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Inflation highlighted a flaw in property valuations. The 20% price increases on home construction are magnified by a 50% error on the base.
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Although lumber cost and availability has improved we are still seeing high demand and reduced supply, which has impacted prices.
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This has been a unique time for lumber, however. Call it a perfect storm, as the expression goes, between initial COVID-19 shutdowns, labor shortages, increased renovation and building demand, and tariffs.
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There are multiple reasons to establish proper Insurance-to-Value for each risk and across the carrier’s entire book. It is as important for commercial insurance as for residential property insurance.
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One segment of industrial warehouse space—cold storage warehouses—continues to grow, driven by several trends.
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San Francisco replaced New York as the most expensive city worldwide for commercial construction in a survey of 2019 costs.
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HazardHub, the nation’s fastest-growing supplier of geospatial risk data, is pleased to announce the introduction of Home Replacement Cost estimates from our award-winning API.
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The commercial and institutional construction market is expected to continue to be busy in 2019, but the profits and size of jobs are not generally anticipated to increase over last year.
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