Our latest survey of hundreds of insurance brokerages serving the construction industry offers fresh insights on the lines of insurance their clients are buying, the limits and deductibles.
Among the findings:
- Excess liability limits decreased compared to last year, likely due to substantial rate increases.
- While we expected excess liability rates to increase, we were surprised by the amount.
- The purchase of cyber, executive risk, contractor’s professional liability, and environmental impairment liability coverages continue to be purchased with relatively modest limits.
- Workers’ compensation experience modifications have generally increased from prior surveys.
- Subcontractor default insurance has become more common.
Download the full report by filling out the form below:
2023 Construction Industry Insurance Benchmark Report
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