Rachel Reeves Only 20 per cent of construction professionals believe the Autumn Budget will be good for the industry, according to a new market report from Gleeds. Some 28 per cent thought it was actively bad for the sector, with issues like higher National Insurance rates potentially hitting contractors whose margins are often delicately poised
Two major CN100 firms have warned the changes to employers’ National Insurance (NI) will hit the construction sector hard. Directors at Glencar – the 53rd biggest contractor in the UK – and Seddon – the country’s 100th biggest construction firm – told Construction News the planned changes will be a “slap in the face” for all
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The new post-Grenfell dutyholder regime could cause insurers to slash professional indemnity insurance (PII) coverage, a Construction Leadership Council (CLC) lead has warned. Insurers may carve out more exclusions within PII coverage as new obligations for the principal contractor (PC) role create uncertainty over liability, insurance veteran Samantha Peat told Construction News’ CN Forecasting conference
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Allstate cut annual spending on corporate offices by more than half in four years, going from $382 million in 2020 to $138 million this year, per Bloomberg — a $244 million reduction. Though Allstate has also reduced its real estate footprint from 12 million square feet to 4 million, the insurance giant says it’s metaphorically
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Library How to Craft Insurance Submissions That Win in a Hard Market By Peter O’Brien Peter O’Brien Peter is the general manager of Procore Risk Advisors, a modern insurance and surety brokerage helping construction companies unlock the terms and services they deserve. Peter is a passionate business builder. Having spent the last ten years at
Library Pollution Liability Insurance: Cleaning Up Gaps in Environmental Coverage Last Updated May 21, 2024 By Melody Bell Melody Bell Director of Underwriting Melody Bell is Director of Underwriting at Procore. Previously, she spent 15 years as Director and Vice President for managing general agents in the U.S. and London, with a focus on construction
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