A letter from Open Insurance: We built Open because owners never controlled the data that decides their insurance

Report

2026 Real Estate & Hospitality Market Update

LocktonFebruary 20262 min read

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Market Overview

Lockton gives specific numbers by asset type. Apartment property capacity is plentiful and ground-up rates on wood-frame construction are down 5% to 15%, with 20% to 30% reductions available on shared and layered programs. Casualty runs opposite: most retail insurers have exited multifamily, and umbrella carriers are adding exclusions for assault and battery, mold, Legionella, and PFAS.

About Lockton

Lockton is an independent insurance brokerage providing property and casualty, employee benefits, retirement, reinsurance, and risk advisory services. Its real estate and hospitality practice serves owners, developers, investors, managers, REITs, funds, and operating companies.

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