Executive Video Q&A by QBE

Commercial Construction’s Mixed Forecast

Industry growth continues but labor shortages and spiking materials costs persist.
By: | August 5, 2026
Topics: Construction | Executive Video Q&A | July/Aug. 2026 Issue | Property | Supply Chain | Underwriting

In this Video Q&A, Risk & Insurance® partners with QBE North America to bring insights from industry leaders shaping the future of insurance. This discussion highlights practical perspectives on how organizations are applying emerging technologies to drive measurable outcomes across the business.

QBE North America’s SVP, Head of Construction, Ryan Powers gives Risk & Insurance® editor in chief Dan Reynolds the low-down on the construction sector. Powers points out that the sector continues to see modest growth in terms of the number and scope of construction projects. However, he mentions that the industry has some nettlesome obstacles to manage. Persistent labor shortages continue to impact the industry, and the inconsistency in the application of federal tariffs is leading to unpredictability in the area of materials costs.

On the coverage front, property premium rates have softened, but indications are that the long, easy ride in the area of workers’ compensation premiums may be reaching a turning point.

 

 

 

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This article was produced by the R&I Brand Studio, a unit of the advertising department of Risk & Insurance, in collaboration with QBE North America. The editorial staff of Risk & Insurance had no role in its preparation.

QBE North America is a global insurance leader focused on helping customers solve unique risks, so they can focus on their future. QBE operates out of 27 countries around the globe, with a presence in every key insurance market. QBE insurance companies are rated "A" (Excellent) by A.M. Best and "A+" by Standard & Poor's.