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The Evolving Impact of Geopolitical Events on Construction Insurance
As global geopolitical events continue to impact today’s interconnected economy, the construction industry is experiencing downstream effects that extend beyond jobsite logistics and material availability. Specifically, geopolitical events can influence the insurance marketplace supporting the construction industry. As these events continue to unfold, construction firms should expect changes in insurance pricing, coverage terms, and coverage availability in the near future. At EHD, we’re following this situation closely and monitoring any changes to the insurance marketplace. In this article, we’re sharing the key insurance-related impacts business leaders should be aware of: 1. Rising Claim Severity May Elevate Insurance Costs The increases in material, fuel, and labor costs experienced across…
