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,” says 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.”

 

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