Risk trends in the construction market

The global construction market is set for a sustained period of strong growth post-Covid-19, driven by government spending on infrastructure and the transition to a net zero society.

However, the switch to more sustainable buildings and infrastructure, the upscaling of clean energy facilities and the adoption of modern building methods will transform the risk landscape, with radical changes in design, materials and processes. These challenges add to currently-stressed supply chains, shortages in materials and labour, and increased costs, which all come against the backdrop of years-long tight margins in the industry.

Jonathan Tabor, Head of Construction and Inherent Defects Insurance for Regional Unit London & Nordics, looks at some of the acute and long-term risk trends for the construction sector.