In-depth - Commercial lines: Trading up in traditional lines

Property owners is a familiar market for most brokers. New risks and technology could help to squeeze a profit out of the increasingly tight margins in the sector, writes Sam Barrett

Both the residential and commercial rental markets are performing strongly as property ownership falls out of reach and favour for many individuals and businesses. 

But while this suggests the property insurance market should be lucrative, tight margins and flat-lining rates mean brokers must develop their expertise to succeed. 

Good knowledge is essential. “You really need to understand the marketplace and the requirements of the customer,” says Alan Smith, director at Chambers and Newman.