Making informed decisions is critical for your business, especially when it comes to insurance. That’s why we’re excited to share the 2021 Construction Benchmark Report, part of our series of industry-specific reports. This comprehensive study provides construction company executives with valuable insights, statistics, and peer comparisons to guide their insurance purchasing decisions.
WHY THE 2021 CONSTRUCTION BENCHMARK REPORT MATTERS
The construction industry plays a vital role in the U.S. economy, generating $1.3 trillion annually and supporting over 7 million jobs, according to the Associated General Contractors (AGC). With economists forecasting continued growth in the sector, having the right insurance coverage is more important than ever.
The 2021 Construction Benchmark Report focuses on the purchasing habits of 1,983 North American construction companies, ranging from small firms with less than $1 million in revenue to large enterprises generating over $880 million.
WHAT THE REPORT COVERS
This report dives deep into key insurance categories, including:
- Property
- Contractor’s equipment
- Builders’ risk
- General liability
- Excess liability
- Contractor’s professional liability
- Environmental impairment
- Workers’ compensation
Additionally, it provides insights into management liability, subcontractor default insurance, cyber liability, and alternative risk financing techniques. The study also highlights employee benefits trends, such as voluntary benefits and wellness programs, offering a well-rounded view of industry practices.
Want to Learn More?
Kapnick Insurance is here to help. Contact us at to discuss how the 2021 Construction Benchmark Report can guide your insurance decisions or to request a copy of the full report.
