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Instant Insights / Construction update: Challenges, opportunities and risks

Today's construction insurance market offers unique challenges and risks, but it also presents opportunities for agents, brokers, and insurers to grow business.

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Builders risk insurance protects a person’s or organization’s insurable interest in materials, fixtures and/or equipment to be installed during the construction or renovation of a building or structure. (Photo: Shutterstock) Builders risk insurance protects a person’s or organization’s insurable interest in materials, fixtures and/or equipment to be installed during the construction or renovation of a building or structure. (Photo: Shutterstock)

Builders risk insurance is easy to quote and bind. The product is sold by a number of carriers, some offering a highly automated online process with little intervention. This means an insurance professional doesn’t have to be an expert in the course of construction insurance to win the account! 

That’s both good news and bad news for the agent. Good news because it can be nearly effortless for you. Bad news because it’s just as easy for your competition.

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