NAREIM: Insurance in a brave new world featuring Ryan Severino
In an era of climate catastrophes, the insurance market has responded with volatility. Incumbent renewals are uncertain, prices have skyrocketed and insurers are pulling out of high growth Southeast and Southwest markets.
For real estate investment managers, this means traditional valuation and risk models no longer serve their purpose. The markets have changed permanently, with insurance having the potential of making or breaking a deal. NAREIM spoke with BGO, Continental Realty Corporation and PCCP on getting the capacity needed, the importance of educating deal teams and crafting a story, and what it takes to self-insure.
