Some key takeaways from McGriff's 4th Quarter Market Update for Florida Multifamily Associations
- Property Rates: expected to continue to stabilize despite the estimated $65 billion in insurable losses from hurricanes Helene and Milton. Reinsurance treaty renewals on Jan 1 will be the first true indicator of how 2025 Property rates will look.
-Casualty Market: Continues to tighten due to rising claim costs.
- Flood Insurance: Associations should be exploring private flood and parametric insurance options to avoid delays in claim payments and secure higher limits, especially following the number of uninsured losses from Hurricanes Helene and Milton.
We invite you to download our fourth quarter Market Update for an in-depth look at a property and casualty market that has continued to stabilize this year. Our 60-page guide also offers insightful commentary on a broad array of other topics from our insurance, risk management, and employee benefits experts. Stay informed and navigate with confidence.
Get the full report here: https://lnkd.in/eyDfZ_QF
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