Adjusters International/Matrix Business Consulting was featured in the Colorado Real Estate Journal’s “Office Properties Quarterly” publication. The article, “Policy provisions for vacant & unoccupied spaces,” offers insights policyholders should keep in mind when considering how best to maintain commercial properties moving forward.
The article begins, “Where do office property management companies and office asset owners stand regarding the future of the office space use and leasing in the aftermath of the COVID-19 pandemic?” On one hand, businesses might utilize less office space with so many employees continuing to work from home. On the other hand, companies might require more office space in order to allow for social distancing in the workplace.
R. Scott deLuise, President and CEO of AI/MBC, explains that not only are unoccupied buildings more susceptible to potential losses, whether weather-related or human-caused, but insurers can also reduce percentages of loss coverage in certain cases. He also highlights the importance of differentiating between “vacant” space and “unoccupied” space and how knowing the correct terminology can empower policyholders who are facing potential commercial losses.
To read the article in full, CLICK HERE.