Heavy competition, job scarcity and a buyer's market will continue to stand out as the top challenges facing the construction-risk segment this year.
Another key area of concern: the possible repercussions for commercial general liability policyholders from pending legislation that could again considerably alter the definition of an “occurrence” in contract language in yet another state.
Also causing worry are the rising costs of collateral for some insurance programs, such as workers' compensation, green building and LEED certification, and contractors' professional liability insurance.
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