SARASOTA, Fla. - April 15, 2020 - Construction Marketing Inc. is proud to announce that their client, Construction Risk Partners, has published an in-depth analysis of upcoming construction insurance market trends. The report, titled "Construction Insurance Market Forecast," reflects back on 2019 industry developments and events and looks forward to how those trends will play out in 2020 and beyond.
The report, written by the Construction Risk's insurance experts, analyzes overall industry trends and acknowledges the upcoming economic impact of the COVID-19 pandemic on the construction and insurance industries. Using sophisticated analysis, Construction Risk crafted the report, which forecasts that construction insurance companies will likely increase many rates and the industry as a whole will experience significant market shifts.
Construction Risk Partners - Market Forecast 2020 - Read Here
The Construction Insurance Market Forecast report covers the full range of coverage, including primary and excess casualty, property insurance, builder's risk insurance, commercial auto insurance, excess liability, subcontractor default insurance (SDI), construction liability insurance, environmental liability and cyber insurance. While many rates were expected to increase significantly, for a few types of coverage rates are expected to hold steady if current trends prevail throughout the rest of the year.
"Beginning in 2019, the pace of change seems to have accelerated for the industry," said Rob Melis, President and CEO of Construction Marketing Inc., the marketing firm that created the graphic design for the report. "Between damaging hurricanes, devastating wildfires, a skilled labor shortage and the ongoing COVID-19 pandemic, industry leaders are looking for guidance to help them plan their next stage of business growth. This report helps to clarify and predict upcoming insurance coverage and rate changes, which is a critical piece of the puzzle."
Construction Marketing is a full-service marketing and advertising firm that works exclusively with companies in all aspects of the construction industry. "We work with the leaders in the industry," said Melis. "Construction Risk Partners is a true thought leader and we were pleased to help them craft a dynamic, easy-to-read document that will serve as a critical reference for firms throughout the world when predicting what will happen to construction insurance in the months and years to come."
Construction Risk Partners is making the full Construction Insurance Market Forecast available at no charge as a service to the industry.
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Construction Marketing Inc. is a full-service marketing, advertising, and marketing consulting firm that exclusively serves the construction industry. The firm offers a complete suite of marketing, advertising and branding services that include trade show marketing, website design, printed materials, online and print advertising, public relations and social media management. Construction Marketing is based in Sarasota, Florida, and serves clients throughout the United States and around the globe.
For more information about Construction Marketing, see https://www.construction.marketing/.
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