2025 Year in Review: Jeff Rubin, HUB International Northeast Ltd

What transaction, project, or key moment best reflected the direction of the New York CRE market this year? The insurance market for commercial real estate is still challenging, but certain lines are stabilizing. Property insurance are seeing flat renewals except for increased limits and or claims. Buildings in flood, wind, quake, wildfire zones are still impacted but are seeing reductions from the past six years of increases. Liability and especially umbrella’s are still a major challenge. Nuclear verdicts (over $10 million) litigation funding and fraud still contribute to large awards. Professional lines for E&O, D&O and Cyber are soft and good pricing and coverage are available.

What accomplishment, milestone, project or transaction stood out for you or your firm in 2025? Nothing is more rewarding than guiding a client thru a crisis - could be a claim, litigation, contract language that need to be changed, or how best to structure risk and deductibles. We learn our client’s business and work as part of their EMT as an outsourced risk manager for owners that do not have a full time risk manager.

What emerging trends or shifts will shape opportunities for you, your firm, or market sector in 2026? HUB continues to grow and offer our clients unique insights and resources to help them manage risk and face global challenges. With over 20 specialty practices including real estate, construction & development, healthcare, professional lines, employee benefits and personal insurance, we are a one stop solution. We are one of the largest real estate and development brokers in North America. Let our team of 20,000 strong help. Check out our Outlook 2026 report www.hubinternational.com