Supply chain disruptions, catastrophes top risks for construction sector

Allianz Global Corporate & Specialty SE said that business interruption, supply chain disruption and natural catastrophes are the top risks for the construction and engineering sector, Strategic Risk Asia Pacific reported. The construction industry is facing several challenges including the prospect of recession and the shortage and rising cost of energy. With climate change increasing the frequency and severity of extreme events, the costs of property damage and business interruption are expected to escalate.