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Habitational Real Estate Insurance
Insurers Focus on Increased Need for Inspections, Repairs for Older Buildings Amid the Surfside Condo Collapse
On June 24, part of the Champlain Towers South in Surfside, Florida, collapsed in the wee hours while many residents slept. To date, 97 residents have been confirmed dead. The catastrophic loss has sent shockwaves throughout this oceanfront community located in Miami-Dade County.
COVID Construction Spike Leads to Lumber Shortages
In March of 2020, American lumber mills curtailed operations, citing both employee health and safety concerns and an expected plunge in demand. As months-long quarantines kept Americans locked in their homes, however, home improvement projects and renovations skyrocketed. The failure of lumber producers to foresee this increased demand for construction supplies has led to widespread…
Water Conservation Tips for Buildings
It’s a no-brainer: Water=Life. We need it, we use it, but we have to conserve it better. Commercial and residential buildings can have a huge impact on water conservation with just a handful of low-cost or no-cost water solutions.
Fire Safety Maintenance and Prevention Tips
While deaths from fires have steadily decreased over the past several decades, thousands of Americans die by fire every year, and thousands more are injured. According to FEMA estimates, the damage from fires cost over $25.6 billion in 2018 alone. Following a summer of record-breaking wildfires, comes the peak time for fire-related deaths: the winter…
Preventing Slip and Fall Insurance Claims
Year after year, slips, trips, and falls remain the number-one insurance claim for property owners. More than three million people visit the emergency room each year because of falls, according to the CDC (Centers for Disease Control and Prevention). The average hospital visit costs $30,000 to $50,000. Add in factors like ongoing medical bills and…
Inside the Liability Risks of Turning Hotels Into Dorms
Over the last several months, hotels have been coming up with innovative ways to generate revenue and stay afloat with tourism virtually nil and business meetings going virtual amid the pandemic. Some hotels are offering on-site offices while others have extended their pool hours to attract more guests. But some hotels have pivoted to provide…
The Coronavirus Real Estate Market
Every industry segment of society has been impacted by the COVID-19 pandemic, including the real estate market. Retail closures resulted in millions of employee furloughs, and stay-at-home mandates forced millions of employees out of their offices to work remotely. While many shopping centers, malls, individual retailers and offices have since opened, they have done so…