Source: https://riskandinsurance.com/, April 17, 2024
By: Autumn Demberger

Construction projects are booming.

That’s because demand is returning to its pre-pandemic levels, no longer impeded by mass closures, supply chain stalls or a lack of labor. Businesses and homeowners are looking to build, and the industry is more than happy to oblige.

“The pre-COVID building boom, combined with lower interest rates and affordability, continues to drive residential, except single family new sales, and commercial construction, including infrastructure, hospitals, medical facilities and warehousing,” said John Posa, SVP Nationwide E&S Brokerage Construction. Read more.