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Insurers’ role amid perfect storm battering the UK construction sector

Construction site in silhouette

Blog: Natalie Boardman, underwriting manager for professional indemnity at CNA Hardy, stresses the need for rigorous risk management and insurance that addresses UK construction firms’ numerous challenges.

Rising interest rates and economic uncertainty in the light of first Brexit, then Covid and now the Ukraine war is hurting demand just as surging material, energy, and labour costs erode already thin

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Storm damage claims test insurers’ settlement choices

A year of severe storms has strained repair networks and claims operations, which Ben Blain, head of property at Verisk Claims, points out has placed insurers’ settlement decisions, data oversight and ability to evidence fair customer outcomes firmly under the regulatory spotlight.

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