No matter what industry you’re in, chances are your organization will, at some point, rely on the help ofa third party to fulfil certain business needs. Regardless of who you work with, business arrangements with contractors and vendors can open you up to a number of risks—risks that need to be accounted for through insurance

The past five years have seen the commercial property insurance market progressively harden, evidenced by consistent rate increases since 2017. However, according to industry data, such rate jumps showed some signs of stagnation in early 2022, with average increases staying within single digits. Going into 2023, rates are still on the rise. Some insureds are also encountering above-average rate increases …