Insurance market must switch on to deal with escalating construction risks as sector and firms struggle with extreme pressures.
Many construction firms require tailored help to deal with soaring inflation, rising insolvencies, a fall-off in projects and the likelihood of many being under-insured.
Analysis by Mactavish has found that construction firms are under siege as never before and their existing insurance programmes may be inadequate in terms of meeting existing and emerging risks.
In this pbctoday article, Mactavish CEO, Bruce Hepburn, comments: “The recent crisis events, including most recently the pandemic and the war in Ukraine have had a particularly negative impact on the construction sector across Europe, however, while some other countries are bouncing back, the UK is floundering.”
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