When it comes to managing construction defect claims, insureds should be looking for an insurance partner that has a sharp eye on the market and is keeping pace with today’s trends.
The U.S. construction insurance market is stabilizing after a challenging period, but will still face rate pressures due to inflation, interest rate uncertainty, and rising claims costs, according to a recent WTW report.
For the savvy risk professional, the one charged with great power to protect construction workers and the bottom line, becoming a mitigation hero is more than a necessity — it’s a responsibility.
Many carriers are overcautious when it comes to mass timber construction, leaving insureds with a case of sticker shock. But as the sustainable building material’s popularity grows, some insurers are leading the way with better guidelines and more tailored coverage.
While AI has penetrated awareness in the larger culture, construction companies have been delving into it themselves in recent years including using it to optimize work schedules, to improve workplace safety, and to keep a close eye on construction sites.
Learn what happens when 3D-printed construction projects fail to deliver and risks start getting real in a brave new world at the CLM 2023 Construction Conference.
This year, 6 brokers from across the brokerage field were named as the 2023 Construction Power Broker winners. An additional five brokers were named as finalists.
“I don’t know that we do enough with people to let them know what’s available and what kind of life you can live by being part of this great industry. I get up every morning looking forward to my work. I love what I do, and I think that’s important.”
“The industry does so much good work, and I don’t think we figured out how to lever that in society today and make the American public more aware of it! I think that’s probably the thing we need to talk about more.”
Women are a vital part of the working world. For male-dominated industries like construction, now is the time to consider what true diversity and inclusion looks like.
Risk management and mitigation will be important elements in the discussion. But you can also count on hearing how different needs on the part of residential and commercial property users are driving change.