Current Trends in Better Place’s Commercial Property Market Analyzed by Brokers

seen more and more clients that are looking for alternative risk solutions,’ he said. ‘Whether that’s with captives or whether it’s with some type of a different retention program.’
‘Every client is their own individual and has different needs,’ he added.
Vacant Properties
One topic that continues to be challenging in the commercial property world is insuring vacant properties. Buyze said the market is still seeking ways to address the risk associated with insuring these properties. ‘There are carriers that have products to address vacancies, and there are opportunities for the vacant property owners to get coverage,’ he said. ‘It’s not as readily available as it was in the past, but there are carriers that have the ability to underwrite and cover that business.’
Wildfires
Another major concern in the commercial property market is the exposure to wildfire risk. Buyze highlighted that insurers are taking a closer look at properties in wildfire-prone areas. ‘Certainly, the big carriers are looking at these properties differently than they were before,’ he said. ‘They have a lot more data around those wildfire models and know those exposures a lot better.’
Valuation Impact
Valuation is a key factor in property insurance, with the current environment seeing more accurate and detailed valuations being conducted, Rouse said. ‘We’re seeing a lot of reinvestment in [insurers’] own initiatives around valuation so that they can be more competitive in the marketplace,’ he said. ‘Having that information and ability to value properties almost instantaneously has been very helpful to the underwriting community.’
Overall, the commercial property market is in a favorable position for clients, with lower rates and increased capacity. Alternative risk solutions, addressing challenges like insuring vacant properties and wildfire risks, and the impact of valuations in property insurance are key areas to watch in the current market environment. Brokers are optimistic about the improvements seen in 2025 and expect a positive outlook to continue for the rest of the year.