MarshMcLennan says owners with "significant exposures and sustained losses" can expect rates to climb by 50% to 100%. For example, the New York Times reported Yardi Matrix data that insurance is 8% of operating expenses for multifamily properties. For many owners, that means putting off renovations that would cut the cost of utilities, which would lower the cost of operation. But they can't go without insurance to do so. Where the wheel ultimately will stop spinning is hard to tell." https://lnkd.in/ekPeSXVG