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Look around any big city in the United States. You'll see buildings of all sizes in various stages of completion. The more than 450 construction cranes in operation across the U.S. are clear evidence of an industry that's still booming. The biannual Rider Levett Bucknall Crane Index for North America — July 2019, which tracks the number of operating tower cranes in 13 major cities in the U.S. and Canada, reported its fourth consecutive increase in crane counts in the second quarter, with several cities witnessing more cranes populate their skyline in July 2019 than in January 2019.
The U.S. construction industry continues to build on its robust activity from 2018, creating approximately $1.3 trillion worth of structures each year, according to the Associated General Contractors of America. As the construction industry continues to create a more modern, sustainable world, it faces hurdles that have shaped a difficult insurance environment.
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Heather A. Turner
Heather A. Turner is the managing editor of ALM's NU Property & Casualty Group. She can be reached at [email protected].
