Thieves smashed displays and stole an estimated $60,00 – $100,000 worth of merchandise from Nordstrom in the Westfield Topanga mall in Canoga Park on Saturday, August 12, 2023. As California business owners grapple with rising operational costs, predatory labor codes, and the highest unemployment rate in the nation, there’s yet another challenge squeezing their budgets: skyrocketing commercial property insurance rates.
I have heard their stories firsthand. Kerry Jablonski, President of Hydroform USA Inc., shared that her business was recently forced to pay three times more for building insurance compared to last year—with much less coverage. Mike Acevedo, who owns and manages multiple companies in the agriculture and commercial industries in California, shared that his businesses have suffered from a more than 400 percent increase in building and liability insurance costs.
On the natural disaster front, a proposed solution by California’s insurance commissioner Ricardo Lara would require providers to write several policies in fire-prone areas. By distributing risk more evenly across a larger pool of insured properties, the plan would mitigate the financial impact on insurance companies when a natural disaster occurs.
İnsurance İnsurance Latest News, İnsurance İnsurance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: ladailynews - 🏆 332. / 59 Read more »