The TreppWire Podcast: A Commercial Real Estate Show 276. Commercial Property Insurance Insights with Skylar Romines
Sep 12, 2024
Skylar Romines, founder of ATW Advisors and a self-proclaimed insurance nerd, dives into her journey from commercial insurance broker to entrepreneur. She unpacks the current state of the commercial property insurance market, discussing rising costs and challenges faced by brokers. Skylar also highlights the importance of proactive engagement with insurance carriers and shares insights on leveraging social media to empower women in the industry. Her passion for advocating for clients is both inspiring and informative.
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Pre-Launch Business Cards
- Skylar Romines printed business cards for her firm ATW Advisors before officially launching it.
- This simple act validated her business idea and led to a rapid launch and client acquisition.
Insurance Market Hardening
- The commercial insurance market has hardened due to a convergence of factors, including COVID-19, supply chain issues, and inflation.
- These factors have led to increased reconstruction costs, impacting insurance premiums even with stable rates.
Negotiating Replacement Costs
- Understand the difference between market value and replacement cost when insuring properties.
- Provide insurers with detailed data on actual rebuilding costs to negotiate better premiums.