Water injury and valuations problem protection gaps
Winter can also be exerting its affect on pricing. As Nor’easters dump heavy snow throughout New England, the chance of ice damming has multiplied. “You get ice dam buildups, water then backs up behind these ice dams, and you then get water injury inside each your residential and business buildings,” O’Donnell mentioned. One incident can set off multi-unit losses, prompting underwriters to undertake per-unit water injury deductibles atop normal all-other-perils phrases.
