The construction industry is confronting the twin challenges of a tsunami of projects expected to peak next year, yet many hurdles threaten to thwart success. Rising rate of insolvency in construction Protracted supply chains, increasing material costs and a chronic skills shortage have helped contribute to a more than 40% jump in Australian construction businesses […]
Considering the recent rough couple of years for the construction market, how can your business prepare for what 2022 might hold? While uncertainty will still be the theme, there are some things we can count on happening. Hardening insurance market Overall commercial insurance premiums increased 8.7% in 2020-21, and they’re expected to rise this year, too. Insurers’ […]
The construction industry is as diverse as the risks they face. It spans residential and non-residential construction, renovations and extensions, site preparation, land development, building structure services, installation services, and heavy and civil engineering. That’s a lot of risks your construction business needs to manage, so here are five insurance policies popular with construction companies. In this […]
With builders’ risks escalating and an increasingly tougher regulatory environment across Australia, how can construction contractors protect against potential liabilities and losses? General liability policies may not be tailored to the unique risks of the construction industry hence why specific ‘contractors or builders liability insurance’ is a better option. While public liability insurance covers liability […]
