Insurers and brokers are ready and eager to back the construction industry, which stands to gain $132.2 billion from President Obama's economic stimulus package, said A.M. Best in a March 9 article.
U.S. insurers receive $7 billion to $9 billion annually in premiums from the construction industry, with workers' compensation being the largest product line, followed by general liability, excess liability, automobile, contractors equipment, and professional liability and surety.
The recession has stalled or stopped many construction projects, so premiums related to those projects have been deferred or outright cancelled.
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