Construction Insurance Still Hard To Obtain
The survey respondents continue to report that construction coverage for both commercial and residential properties is difficult to obtain. That segment of insurance coverage does not appear to be stabilizing, due to concerns over class action suits relating to mold and other environmental concerns, the survey found.
The CIAB also reported that professional liability coverage is hard to find and highly priced in all areas of the country.
While about two-thirds of accounts are still experiencing average increases of up to 20 percent for all lines of insurance, the survey found that premium increases for commercial property/casualty insurance are moderating.