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Capacity strains construction insurance rates

Posted On: Apr. 12, 2019 6:25 AM CST

Construction cranes in London

U.K.-based consultancy firm Mactavish said that local contractors and construction firms are likely to face up to a five-fold rise in insurance rates this year driven by lack of insurance capacity, reported. Mactavish said that poor returns and increasing complexity of construction risks have forced several insurers to stop offering professional indemnity to contractors.

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