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Property market outlook: Insurance rates rising for catastrophe-exposed properties

Rounding the corner of 2022 into 2023, the property market outlook is a little greyer. While we progressed through 2022 with slight decreases in rates, depending on the operations and geographic location, Hurricane Ian sent shock waves through the market. For any catastrophe-exposed property and costal locations, insurance rate increases are going to be significant, if not impossible to place for some renewals, especially in Florida.

Learn more about what to expect for the 2023 property market in the Puget Sound Business Journal and Portland Business Journal.

The views and opinions expressed within are those of the author(s) and do not necessarily reflect the official policy or position of Parker, Smith & Feek. While every effort has been taken in compiling this information to ensure that its contents are totally accurate, neither the publisher nor the author can accept liability for any inaccuracies or changed circumstances of any information herein or for the consequences of any reliance placed upon it.

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