Over 40% of commercial properties underinsured mainly due to inflation

A survey by U.S.-based insurance and reinsurance broker Arthur J. Gallagher & Co. found that more than two in five commercial properties in the U.K. are currently underinsured, Reinsurance News reported. Rising inflation and cost of materials are cited as the major reasons for the increasing number of underinsured properties, with the average shortfall of underinsured properties against the rebuild value being 43%,