The property insurance market at the beginning of 2023 was volatile for Florida because of the significant hurricane activity in 2022. However, with less extreme weather events throughout the rest of this year, how has that changed the market?
Manny Ribot, a property insurance broker with expertise in the Florida region at Marsh McLennan Agency, spoke with Bisnow about how today’s South Florida commercial insurance market compares to the beginning of the year. He discusses where he anticipates rates to go from here and if new insurers may be taking this as a signal to (re)enter the market.
“The beginning of the year was ugly, and it’s gotten a little less ugly,” said Manny.
