Grenfell fire led to rise in premium rates for construction firms

Posted On: Aug. 24, 2018 5:49 AM CST

A survey by the U.K.'s Construction Industry Council found that one in 10 construction firms faced a 50% increase in premium rates for professional indemnity insurance following the June 2017 Grenfell Tower fire, Building.co.uk reported. The council has launched another survey to gauge the fire tragedy's impact on availability of insurance for the construction sector. Fire destroyed the 24-story Grenfell Tower in London on June 14, 2017.