…it is crazy out there!

 

Here are a few quotes from notes we have received from our carrier companies during the first part of this year:

 

• “Due to their outsized impact on reinsurance costs, all dwelling risks (HO3, HO5 and Dwelling Fire) in these counties will be non-renewed at policy expiration starting in mid-January 2024.”

 

• “Reinsurance costs on risks in Barnstable County or within 2,500 feet of tidal water and large losses are impairing profitability.”

 

• “For new submissions of apartments and rental dwellings we will require landlords to provide a copy of the no-smoking provision contained within their leases prior to binding.”

 

• “Barnstable, Dukes, Nantucket Counties (All) — Bristol, Essex, Middlesex, Norfolk, Plymouth, & Suffolk Counties <2 miles from Coast = no new business”

 

• “[If the] age of a roof is greater than 10 years, we are not interested”

 

This year more than ever, it is a great time to check on your insurance options. If you get a NO from somewhere or receive a really high pricing increase, just let us know! We would love to assist our clients, their families and friends during this “interesting” insurance year.