Southwest Connecticut commercial property owners face 23% insurance premium hikes due to rising repair costs and catastrophic loss concerns.
Commercial property owners in southwest Connecticut are facing steep insurance premium hikes, averaging 23% last year, according to a study by Trepp. This increase is driven by rising repair costs linked to inflation and concerns over potential catastrophic losses in the East Coast region. Notably, New Orleans recorded the highest increase nationally at 37%, followed by Louisville and Miami, with no other Northeast area making the top 10.
September 21, 2024
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