The builders risk insurance market size reached $5.36 billion last year, a signal of the current upward shift in the construction industry. For decades, volatility defined the sector, with pipelines rising and falling on material prices, interest rates, labor shortages, and catastrophic risks like wildfires and water damage. Today, it’s a different story.

While volatility isn’t going away, developments in underwriting, jobsite technology and catastrophic risk management are reshaping builders risk coverage from a reactive safeguard into a proactive framework for managing risk.

Reprinted courtesy of Kirk Chamberlain, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved.