With largescale catastrophic events on the rise, a hardening market and greater challenges facing investment portfolios, it is increasingly critical to ensure commercial properties are insured to value.
Many carriers have put in place co-insurance and margin clauses to limit loss exposure when properties are undervalued and, while this may protect the carrier, it can result in a negative customer experience that should be avoided, especially during a time of loss.
In light of these challenging conditions, Thomas Owens from CoreLogic recently joined Insurance Business America to discuss why more scrutiny is needed to avoid commercial property underinsurance and premium leakage. For more insight on how insurance professionals can best serve commercial property clients while mitigating their own losses, listen now to the latest episode of IBA Talk.
