Condo associations. How is your market doing?

[richardroma]

If you write condo master policies, curious in feedback to what you are seeing. In NC seeing carriers increase renewals 25-30% in some cases. Haven’t heard of any nonrenewals (yet). Mainly on the 10mm and up coverage amount. Comments appreciated.

 

[Al3x Lee]

Seeing the same in Oregon, I think it's nation wide.

 

[Markthebroker]

Somewhere in the neighborhood of 20%. The smaller ones seem to be a bit more rate stable for some reason.

This is just for California, and I don't have a lot, so take it with a grain of salt.

 

[NY independent]

We have a pretty nice hab book with Nationwide and they are non renewing a ton of business and taking rate big time.

 

[Markthebroker]

We have a pretty nice hab book with Nationwide and they are non renewing a ton of business and taking rate big time.

Oh yeah, I'm getting Nationwide non renewals left and right. It's a damn shi#show out here in California.

 

[InsuranceAgent411]

Same here in Texas. Double digit rate increases; inspecting everything; follow up with recommendations; remarketing every account. So many changes in the last 6 months its hard to keep up!

 

[Markthebroker]

I'm doing everything I can to help my clients, and feel bad about the increases and non renewals. To be perfectly honest, as I am 100% commission, it's doing pretty well for my bottom line.