image credit: Unsplash

Rising material costs leaving commercial property underinsured: Towergate

March 28, 2022

A study from Towergate Insurance Brokers suggests that more than 90% of commercial properties are not insured properly due to rising rebuilding costs.

Citing a recent 20% increase in the cost of materials, Towergate said that many businesses could be put under financial strain if forced to rebuild. The broker company also pointed to more-recent research that suggested buildings were only covered for 68% of their rebuilding costs.

Read More on Reinsurance News