The Weekly Take from CBRE
Just in Case: Insurance and the strategies of risk management
Jan 20, 2025
Ryan Barber, Global Head of Property at Aon, Raphael Dawson from Walton Street Capital, and CBRE’s Chris Nassa discuss critical strategies in property and casualty insurance amidst recent calamities. They emphasize innovative risk modeling for informed decisions and advocate for captive insurance as a cost-effective strategy for large portfolios. The trio also highlights the significance of accurate data in shaping premiums and managing risks, while stressing the importance of having in-house experts to navigate evolving market trends.
52:17
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Quick takeaways
- Adopting advanced risk management tools and data accuracy is crucial for commercial property owners to effectively manage insurance costs.
- Captive insurance models provide large real estate firms with a strategic way to retain risk and profit from unclaimed losses.
Deep dives
Impact of Climate Change on Insurance Costs
Climate change is driving an increase in both the frequency and severity of natural disasters, which significantly impacts insurance costs for commercial real estate. With the rise in disasters related to hurricanes, wildfires, and flooding, the insurance industry is experiencing a prolonged hard market, resulting in heightened premiums. For instance, recent years have witnessed a surge in billion-dollar disaster events in the U.S., necessitating a reevaluation of risk for properties, particularly in regions increasingly prone to catastrophes. Demographic shifts, with more populations migrating to high-risk areas such as the Sun Belt, further exacerbate this situation, aligning higher insurance costs with greater potential exposure.
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