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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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As 2020 winds down, the impact of nuclear verdicts, changing liability exposure and rising claim frequency will likely persist while the impacts of the COVID-19 pandemic continue to exacerbate firming market conditions. (iStock) As 2020 winds down, the impact of nuclear verdicts, changing liability exposure and rising claim frequency will likely persist while the impacts of the COVID-19 pandemic continue to exacerbate firming market conditions. (iStock)

The casualty market firming for U.S. construction risks, which began in the third quarter of 2019 and continued into 2020, has intensified in the second half of this year and is likely to extend into 2021.

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