Willis Group Holdings has released its 2005 Global Construction Market Overview, a comprehensive analysis of the worldwide construction insurance market. The report includes commentary from various global market centers on market conditions affecting insurance coverage with a close affinity to the construction industry.
Despite the fact that the market has been reactive and volatile, the construction sector has shown that, while historically it follows market trends, it has been far more consistent in recent years.
The construction insurance market will remain alert and responsive to client needs in the next few years. However, the non-marine construction sector will continue to face challenges such as security ratings, changing technologies, and natural catastrophes.
The review further examines the challenges and the response and evolution of the market as it continues to service the needs of its client base on a global scale, from the most basic construction activity to some of the world’s most extravagant project developments and risk transfer needs.