Nearing the end of 2023, real estate companies face a difficult insurance market. Property premiums have skyrocketed this year, in part due to capacity constraints fueled by growing catastrophe losses, the impact of rampant inflation on property valuations, and challenges in the reinsurance marketplace. The casualty market, meanwhile, has long been a concern for real estate companies due to persistent and costly claims related to slips and falls and violence inflicted on tenants and their guests. With the cost of insurance coverage rising, many real estate companies would ideally be able to reduce their insurance expenses by retaining more risk on their own balance sheets. Banks and others
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