Dark clouds loom for property insurance rates

Feb 17, 2012

The following article was published in the Orlando Business Journal on February 17, 2012:

Dark Clouds Loom for Property Insurance Rates

By Bill Orben

Stable rates for commercial property insurance in Florida appear to be coming to an end.

About half of the businesses surveyed by Marsh, a New York City-based insurance broker, reported rate increases of up to 10 percent in the second half of 2011.

Central Florida insurance brokers expect commercial property owners to pay 5 percent to 10 percent more for property insurance this year.

Insurance brokers said carriers have told them current rates cannot cover potential losses.

Insurance brokers recommend shopping around now to have more options should your property insurer increase rates.