In a recent discussion, experts Jim Dunlap from WTW and Chase Johnson from Lockton gathered for the first Construction Insurance Power Panel of 2025. They focused on the current state of construction insurance, particularly the capacity and interest of insurance carriers. This insightful conversation also touched on the scrutiny of contracts and the importance of Construction Professional Liability (CPL), along with their predictions for the future of the market.
The panel highlighted how the construction insurance landscape is evolving. With various challenges facing the industry, Dunlap and Johnson shared their perspectives on what it means for carriers and policyholders alike. They emphasized the need for a thorough understanding of contracts, which can significantly impact coverage and claims.
As the market progresses into 2025, both speakers offered their insights on potential trends and changes. They believe that understanding the appetite of carriers is crucial for stakeholders in the construction sector. This is especially relevant as businesses look to secure adequate coverage in a competitive environment.
Overall, the discussion provided valuable insights into the construction insurance market, helping attendees grasp the current dynamics and prepare for the future.