At this time of year, contractors must prepare for the increasing frequency and severity of extreme weather events. Heatwaves, heavy rainfall, hurricanes and other weather phenomena can pose significant risks to construction projects, impacting timelines, safety and financial stability.

To mitigate these risks, it's crucial for contractors to review and adjust their insurance coverage. Construction company owners, accountants and financial leaders also need to ensure their operations are adequately protected against extreme weather events.

Extreme weather events pose significant challenges to construction projects in multiple ways. Severe weather, such as storms and heavy rainfall, can bring construction activities to a halt, resulting in delays that escalate project timelines and costs. Moreover, high winds, floods and extreme temperatures have the potential to cause direct damage to equipment, materials and structures that are under construction.

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