SFRI drops 7% in February

Property insurance rates continued to drop in February. The SFRI fell from 0.91 to 0.85 in February. Buildings with superior construction, which have been dropping faster than the average, slowed down their decline a bit. JM and MNC construction showed the biggest drop. Rates continue to remain around 1% for superior construction and in the 1.1 to 1.3% for standard construction.