The US property insurance market is showing signs of softening, as noted in Gallagher’s latest update, but multifamily and industrial properties are still facing significant challenges. Key factors affecting renewal performance include construction type, occupancy, and claims history, with wood-frame buildings particularly at risk due to fire hazards. While some sectors are seeing rate reductions, others are experiencing stricter underwriting practices and increased deductibles, particularly in high-risk areas. Overall, real estate insureds are facing rising casualty rates and tighter terms despite slight improvements in some management liability lines.