In the ever-changing real estate and hospitality insurance markets, we are consistently adapting and innovating to find solutions that improve outcomes for our clients. Our Real Estate & Hospitality practice reviewed key claims data from January 2019 to January 2021 in order to identify trends, provide recommendations for improving leverage during the underwriting process and reduce insurance costs.

6 main causes of burnout using paragraph bold

  • Unsustainable workload
  • Perceived lack of control/autonomy
  • Insufficient recognition and/or rewards for effort
  • Lack of community/relationships
  • Lack of fairness or perceived injustice
  • Mismatched values and skills
6 main causes of burnout using H5 heading
  • Unsustainable workload
  • Perceived lack of control/autonomy
  • Insufficient recognition and/or rewards for effort
  • Lack of community/relationships
  • Lack of fairness or perceived injustice
  • Mismatched values and skills
6 main causes of burnout using H6 heading
  • Unsustainable workload
  • Perceived lack of control/autonomy
  • Insufficient recognition and/or rewards for effort
  • Lack of community/relationships
  • Lack of fairness or perceived injustice
  • Mismatched values and skills

6 main causes of burnout using H4 heading

  • Unsustainable workload
  • Perceived lack of control/autonomy
  • Insufficient recognition and/or rewards for effort
  • Lack of community/relationships
  • Lack of fairness or perceived injustice
  • Mismatched values and skills
$41,967 is the average incurred claim amount for claims of violence.

Claims of Violence

A trending metric carriers are advancing is the crime score, indicating the likelihood of crime activity in a given area. Generally, these claims take time to close out and, in some cases, clients can experience having claims show as open on their loss record for close to 70% of a given year.

 

 

$81,365 is the average incurred claim amount for fire damage claims.Fire Damage Claims

Fire claims range in severity and complexity based on characteristics of the asset, such as its age and construction type, amongst other factors. Carriers are no longer glossing over low building replacement cost valuations in property insurance pricing.

 

 

$55,045 is the average incurred claim amount for water damage claims.Water Damage Claims

Water damage is one of the largest sources for billions of dollars in insurance claims payments every year. Whether it's weather-related, tenant-related or maintenance-related, water damage claims are complex and often difficult to navigate.

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