By the end of 2024, the construction market saw a significant surge in demand, with notable growth in nonresidential and infrastructure sectors. Despite challenges like labor shortages and regional disparities, the Federal Reserve's rate cuts have improved borrowing conditions, boosting industry sentiment.
Looking forward to 2025, growth is expected in healthcare, education and data centers, driven by demographic changes and technological advancements, although the industry must navigate ongoing challenges.
In this market update, we look at:
- Builders Risk and Property
- General Casualty and Excess Liability
- Auto Liability
- Professional Liability/Errors and Omissions
- Workers' Compensation
- Cyber Liability
- Cyber coverages
