Merlin Law Group’s Post

Real estate insurance rates surge 33% YoY, impacting owners' expenses. Thomas Lynch, Jencap’s senior vice president, explains why claims litigation plays a pivotal role. https://hubs.ly/Q022zgYQ0 #RealEstateInsurance #InsuranceRates #ClaimsLitigation #PropertyManagement #ExpertInsights

The property insurance appraisal process has become an interesting dynamic. Somewhere along the way, labeling of appraisers included the term "opposing", i.e. "opposing appraiser" or "OA". "Oppose" is defined as: "Disapprove of and attempt to prevent, especially by argument; actively resist or refuse to comply with (a person or system); compete against (someone) in a contest." While there are bound to be certain disagreements between appraisers, how nice would it be for appraisers to drop their biases, approach with the impartiality and objectivity the process requires, and work alongside each other through competent consideration. Not to "win" or to "lose", but rather to simply establish a fair, accurate, and just settlement.

My colleague Somers Brewin has written an interesting insights article looking at property defects within a W&I policy and importantly what insurers are seeking to when considering making an exclusion with regards to property defects within a corporate real estate transaction. #lockton #insurance #realestate #commercialrealestate

Insurance Appraisals RE Appraisers rely on bench mark costs, ratios and percentages to appraise property. Each property type of residential and commercial has it's own primary "unit-of-comparison" that is used as a comparitive parameter. In residential valuation & sales, the primary "unit-of-comparison is the price paid psf of heated or A/C area. In the Insurance Appraisal of residential condominiums, the primary "unit-of-comparison" is the replacement cost new (RCN) per SF of heated area. Therefore, the estimated RCN of site improvements should be calculated separately. Insurance companies want to see the RCN shown per building. The appraiser must include a site plan showing the buildings and the corresponding street addresses of units within each building.

Deep dive into April commercial property renewals from Kyoung-son Song. It's a varied picture but flat renewals are becoming more common as property rate momentum slows. #insurance #insurancenews

Are excessive fees draining your strata's resources? This article sheds light on Netstrata's recent controversy and offers insights into effective cost management strategies. A must-read for property managers and owners alike. Should you or someone you know wish to address any concerns regarding their Stata Insurance, feel free to get in touch. #StrataManagement #CostEfficiency #PropertyOwnership https://buff.ly/3U1CNhV

Know the hidden risks of commercial real estate. Then, invest in title insurance to protect against them. #loudouncommercialtitlellc #titlecompany #titleinsurance #vatitle #investmentrisks #commercialproperty

We interrupt our regularly scheduled social media posting to talk business interruption loss calculations in claims processing. https://bit.ly/3wy6YoQ https://bit.ly/3wM6XxC #policyholders #publicadjuster #claims #insurance #business

The Office Market... Availability rates in some of the country's largest office markets continue to rise. This chart with information from Savills tells the story, and for more commentary read the article from Wolf Richter in the comments below. _____________________________________________ Remember, Do Your Due Diligence When It Concerns The Title Insurance For Your Real Estate Purchase In New York! And when you get a title bill, always get a second opinion from another title insurance provider! The non-premium title bill charges can vary widely! Watch 'Do You Ever Wonder About Title Insurance? Maybe Not, But You Should' at YouTube using the link in the comments below. Hallmark Abstract Service...You Buy Real Estate, We Protect It! (646) 741-6101, info@hallmarkabstractllc.com #titleinsurance #officeleasing #commercialrealestatebroker #nyrealestate

We interrupt our regularly scheduled social media posting to talk business interruption loss calculations in claims processing. https://bit.ly/431oBcS https://bit.ly/431VZ3a #policyholders #publicadjuster #claims #insurance #business