Construction Insurance Rates Rise

Construction companies need experienced insurance attorneys to guide them now more than ever. That’s because the market for construction-related commercial general liability (CGL) insurance, and umbrella and excess liability coverage, is firming up and rates are rising. Some firms may have trouble finding insurance or face non-renewal of existing policies.

All of this according to Marsh in a recent press release touting its August 2012 Construction Market Update.

Marsh reports that underwriters are raising CGL rates for construction firms as much as 15%, and raising rates for umbrella and excess liability coverage from 8-10%.

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