Earlier this week I was listening to a news report about how, many insurance companies were no longer willing to insure properties along the coast lines of the US. Those insurance companies stated that the increased threat of natural disaster and stricter regulation by the state forced them to make this decision rather than to continue doing business in those areas. The report went on to say that people living in those areas were having to go to "last resort" companies, funded by the state, in order to secure coverage. According to the report, the state funded insurance companies didn't have (13 comments)
I'm sure it's happened to you once or twice; you've set up the perfect deal and your client comes back with the bad news that he/she can't get insurance on the property or the rate is so high that it jeopardizes the deal. Of course you told them to get a quote from whoever does their auto insurance and perhaps a few others, but it still seems like the insurance companies aren't making this easy. Why is it so hard to insure some properties? The answer isn't as simple as it may seem. There are so many factors that go in to (4 comments)