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IREM requests natural disaster insurance for commercial properties.(insession)(Institute of Real Estate Management)(Brief article)
- Article from:
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Journal of Property Management
- Article date:
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May 1, 2008
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Copyright informationCOPYRIGHT 2008 National Association of Realtors. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Affordable and accessible insurance is essential to the real estate market. Property and casualty coverage is an underwriting requirement for conventional, government-assisted and commercial mortgages. Unfortunately, the intensity of large natural disasters in recent years has made the acquisition of adequate property insurance very difficult in some areas. Historically, insurers declined to write policies, even canceling some policies and increasing premiums. Recently, Hurricanes Katrina and Rita have refocused attention on this issue. The viability of the insurance market is critical to real estate financing. Both commercial and multifamily properties should be covered in ...