Water damage is a common pain in commercial real estate that can be enormous in its effects and costs. It is the leading cause of claims in frequency and dollar value, constituting 47% of all insurance claims, according to a new report from Aon Canada’s Real Estate Practice.

But the point of the report was more than tallying losses. It was a study of the benefits that leak detection can offer. The examination was based on five years of data from a large Canadian real estate corporation’s portfolio of assets and insurance claims history. The portfolio comprised multifamily, office, retail, and industrial property types.

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Erik Sherman

 

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