Here’s an initiative we invite you to take part in, based on anecdotal evidence that retirement village insurance premiums are on the rise.
The Property Council Retirement Living Council (PC RLC) is seeking to collect data on reports of premiums increasing from 50-120%, driven by fires, floods, storm damage and the impact of COVID.
Insurance can be one of the larger line items in a village budget, and increases in premiums can have an impact on a village’s bottom line.
To address the problem, the PC RLC needs to understand the lay of the land.
That way they will be able to determine whether actions like recommending certain insurance providers or pursuing bespoke insurance arrangements are worthwhile.
To participate in the survey, click here.
The PC RLC is also encouraging village operators who’ve experienced serious hikes, to email direct here.