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Posted by AP Real Estate Team, AssuredPartners Navigating today’s casualty marketplace can be daunting, but with a proactive and strategic approach, it is possible to thrive in this challenging environment. Here are some strategies to consider: Proactive communication is crucial in the casualty marketplace. Maintain regular contact with your insurance advisor about any changes, challenges, or opportunities. By fostering transparent communication, it’s possible to address issues promptly and make informed decisions. Data is king in the casualty world. Analyzing data provides valuable insights into market trends and risk profiles. Leveraging data analytics tools help make data-driven decisions, identify areas of inefficiency, and optimize operations. Manage expectations to avoid surprises. Setting realistic expectations and discussing potential outcomes with your insurance advisor …

By AP Real Estate Team for AssuredPartners There are many challenges in the real estate property market today. How did we get here, and why is it different from previous hard markets? Not only has the frequency and size of weather events increased, but the definition of CAT has changed. Today we’re having events in states not historically impacted by extreme weather. And they are occurring more regularly and more severely. Following hurricanes Harvey, Irma, and Maria, the deterioration of insurance companies’ loss ratios accelerated. After years of extreme weather events, carriers lost basic underwriting discipline in their rates, deductibles, and limits or capacity deployed. They allowed valuations to remain stagnant instead of increasing replacement costs with general inflationary trends. …