NSI Insurance Group CEO, Oscar Seikaly was featured in a South Florida Business Journal article about rising insurance rates and the impact on condo sales. The article details how rapidly increasing insurance rates are impacting condo owners in the form of higher maintenance fees, ultimately making selling units more difficult.
“If you live in an older building, you will have challenges because companies don’t want to insure all older buildings,” he said. “The losses from older buildings could be massive. The insurance companies would rather insure newer buildings for lower premiums.”
Read the full article here.
