With the end of 2023 in sight, we are experiencing positive trends in renewal pricing for contractors that we expect to persist to the end of the year. As the rate of interest rate hikes has recently slowed, we expect continued economic uncertainty to continue to put pressure on prices, labor and supply chains. While the casualty insurance markets has shown some improvement for contractors and project owners, recent natural disasters have put significant pressure on the property and builders risk insurance market.
A summary look into the various construction lines of insurance follows. For the full replay of the session conducted during the 2023 Construction Risk Management Conference, please fill out the form.
Willis Towers Watson hopes you found the general information provided in this publication informative and helpful. The information contained herein is not intended to constitute legal or other professional advice and should not be relied upon in lieu of consultation with your own legal advisors. In the event you would like more information regarding your insurance coverage, please do not hesitate to reach out to us. In North America, Willis Towers Watson offers insurance products through licensed subsidiaries of Willis North America Inc., including Willis Towers Watson Northeast Inc. (in the United States) and Willis Canada, Inc.
