Sandra Ramos discovered her passion for construction insurance over a decade ago while working on a major New York project. In 2015, she was involved in one of the largest privately funded projects at the time, an experience that sparked her deep interest in the impact of construction. Today, she serves as Senior Vice President and West Region leader of construction and infrastructure at NFP, where she combines technical expertise with a drive to push boundaries in her field.
Ramos has been open about the challenges she faced as a Latina woman in an industry where few hold senior executive roles. Rather than seeing these challenges as setbacks, she views them as motivation to break barriers. She often found herself the only woman of her background in meetings, which meant she had to work harder and quickly learn both the business and professional sides of construction insurance. Support from employers and a network of women in construction helped her progress, though she notes that women remain underrepresented in senior insurance roles.
In her current role, Ramos deals with many pressures affecting the construction market. Labor shortages, rising material costs, and supply chain issues are significant hurdles. Aging infrastructure and the demand for modernization add more layers of risk. The insurance industry itself faces challenges with a tightening talent pool and disruptions from technology like AI and automation. While Ramos sees technology as a positive step forward, she says the industry must adjust and embrace new skills and cultural changes to harness its benefits fully.
Market conditions show a mix of trends. While some sectors are softening, risks in high-hazard areas like roofing and electrical work continue to push rates up, especially in places like California and New York. Ramos points out that social factors such as rising litigation costs and “third-party litigation funding” are making claims longer and more expensive, forcing insurers to increase reserves and retentions.
The insurance products in this space are also evolving. Climate-related issues, such as wildfire exclusions and tighter rules on water, wind, and fire risks, are changing coverage. Technological tools like sensor-based water detection and predictive solutions are helping contractors manage risks better and sometimes earn premium discounts. Carriers are exploring new products that pay out faster based on specific triggers, such as storm conditions, which could reshape how claims are handled.
Sustainability and environmental, social, and governance (ESG) factors are becoming key in securing financing for projects. Compliance with these requirements is a growing focus for Ramos and her team as they support contractors and developers. On the risk side, builders’ risk insurance remains steady, aided by technology improvements and more controlled insurance programs allowing owners better control over liabilities.
Other products gaining attention include subcontractor default insurance, though the market remains selective. Professional liability insurance, once seen as a mere formality, is now crucial. Many contractors find their existing coverage is insufficient as their businesses grow, prompting more tailored reviews and solutions.
Looking ahead, Ramos highlights new building methods like off-site manufacturing and 3D printing. These innovations improve efficiency but bring new cyber and liability risks. The insurance industry is keeping a close eye on these changes.
In her day-to-day work, Ramos values collaboration and the balance between technical know-how and people skills. She believes the industry’s future will depend on how well it adapts to technology, handles rising legal challenges, and promotes diverse leadership. For brokers, contractors, and insurers, success will come to those willing to adjust and build responsibly in an increasingly challenging environment.