Commercial property market expected to harden further in 2023: Woodruff Sawyer
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Commercial property market expected to harden further in 2023: Woodruff Sawyer

Farhin Lilywala
November 15, 2022
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Commercial property rates will continue to increase in 2023, as the market absorbs the impact of inflation, supply chain constraints, secondary-peril losses and a challenging reinsurance environment, according to a report by Woodruff Sawyer.

In the past, secondary perils were high-frequency, low-severity events, such as wildfires, floods, tornadoes and hail. But they accounted for 70% of all insured losses in 2022, the report said.

The

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Farhin Lilywala
Section Editor, Distribution & Specialty
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