Insurance Premiums Skyrocketing For Construction Firms
AGC urges members to get a head start on policy renewals.
Members of the Associated General Contractors of America learned at its recent midyear meeting in Salt Lake City that the premiums for property and casualty insurance are rising faster than many expected.
According to Willis, a prominent national broker of construction insurance, the market began to harden well before the tragic events of Sept. 11, and contractors who are not prepared risk an alarming increase in insurance costs when their current policies expire.