Aon: Hurricane Michael's insured loss total may hit $8B | Slowing apartment supply could lead to higher rents | Mixed-use construction projects for younger generations on the rise
November 15, 2018
Real Estate Advisor
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Risk Management, Insurance & Claims
Aon: Hurricane Michael's insured loss total may hit $8B
Insured losses from Hurricane Michael are estimated to reach at least $8 billion, while total economic losses could surpass $15 billion, Aon said. Aon's estimates are based on physical damage and losses from business interruption.
Reinsurance News (11/8) 
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Slowing apartment supply could lead to higher rents
Signs show that the apartment building boom is starting to slow, tempered by rising construction and labor costs. With a supply pipeline that is starting to scale back, rents are expected to rise.
The Wall Street Journal (tiered subscription model) (11/13) 
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Mixed-use construction projects for younger generations on the rise
Developers aiming to meet the desires of younger generations are increasingly building mixed-use properties that combine multifamily and commercial spaces. Construction Dive examines several of the largest mixed-use projects now underway and describes one proposed in Chicago.
Construction Dive (11/6) 
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Laws & Regulations
Rent control initiatives are still on advocates' agendas
Advocates for rent control are still marshaling their efforts for legislation around the country, even though California's Proposition 10 initiative did not pass. Oregon, Illinois, Colorado and Washington are among the states where rent control advocates are pressing forward.
National Real Estate Investor online (11/13) 
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What the Sec. 199A deduction means for real estate like-kind exchanges
Real estate investors who engage in like-kind exchanges should evaluate how the new Section 199A deduction on qualified business income may affect their tax strategy. Internal Revenue Service proposals for interpreting the deduction contain a hidden tax penalty and could make like-kind exchanges less appealing for some.
ThinkAdvisor (free registration) (11/7) 
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Experts assess proposed guidance for Opportunity Zones
The Treasury Department and IRS' proposed regulatory guidance for the Opportunity Zone program is "unquestionably positive" for real estate investors, said Real Estate Roundtable President and CEO Jeffrey DeBoer. DeBoer and Ryan McCormick, senior vice president and counsel at the Roundtable, explore the proposed rules and what investors should expect.
GlobeSt (10/26) 
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News from Aon
Poor Health Habits are Fueling Higher Employer Medical Costs Worldwide
If it seems like health care costs are increasing faster than prices for other goods and services, it's because they are. In the U.S., for example, from 2003 to 2016, the average price for a laparoscopic appendectomy increased 136 percent for a large employer health plan. And, according to Aon's 2019 Global Medical Trend Rates Report, the global average increase in employer medical costs will be nearly triple the average rate of inflation in the year ahead. Focusing on medical plan design, costs and procurement are only half the battle. As long as poor health habits among the population persist, medical costs will continue to rise. Learn more.
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Global Insurance Market Opportunities
Aon and Guidewire have published "Silent Cyber Scenario: Opening the Flood Gates," based on a new scenario for a hypothetical cyberattack by hackers on a U.S. hydroelectric dam. This is the seventh report in Aon's 2018 Global Insurance Market Opportunities (GIMO) series. By using scenarios such as this one, insurers have the ability to stress-test their portfolios against new and emerging perils created by cyberrisk. With that knowledge, insurers can take steps to mitigate risk, through reinsurance, as well as by working with businesses to increase their resilience. Download the GIMO article here.
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Those who contemplate the beauty of the earth find reserves of strength that will endure as long as life lasts.
Rachel Carson,
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About Aon Real Estate
Aon’s Real Estate Practice has unmatched expertise in designing and placing competitively priced insurance solutions and our capabilities include a comprehensive range of solutions, including property, casualty, financial services, environmental, construction and additional areas of real estate related risk management. Our fact-based approach combined with market knowledge has helped us become the leading insurance broker. Aon represents more than 30 percent of the largest real estate owners, managers and developers and places more than $1 billion of real estate premiums annually.
 
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Aon Real Estate
Kevin Madden, National Practice Leader
+1.212.441.1605
kevin.madden@aon.com
www.aon.com

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About AON
Aon plc (NYSE:AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.
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