FRP’s Senior Vice President, Mark Pennebaker, provides insight on a compelling alternative to indemnity-based insurance. The landscape of commercial property insurance is undergoing a notable evolution, marked by a shift toward non-traditional solutions. One innovative approach is parametric insurance, also known as index-based insurance. Unlike traditional indemnity-based insurance, which assesses losses after they occur, parametric insurance operates on predefined parameters … Read More
Weathering Florida’s Storm Systems: Remaining Proactive in a Hard Market
FRP’s Executive Vice President, Chris Tolland, provides insight on how commercial property owners can navigate rising insurance costs. While the 2023 hurricane season will end this week, rate spikes continue in catastrophic property insurance and reinsurance with some commercial property owners in Florida facing renewal increases of up to 125% due to an active year along the Gulf and Atlantic … Read More