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.

Analysis

Responding to New York building risks in firming P&C market

It is likely that challenging conditions in the P&C market will continue throughout 2020 and 2021.

By Antoinette Sacchi | November 05, 2020 at 10:00 AM

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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)

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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