QBE North America Unveils Insights on Cyber, Labor and Financial Challenges in 2024 Commercial Construction Risk Report

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QBE North America has released its 2024 Commercial Construction Risk Report, uncovering key risks and emerging challenges within the commercial construction industry. Highlighting cybersecurity threats, financial challenges and labor shortage as significant concerns, the report sheds light on the industry’s unique risks threatening project timelines, budgets and safety. The report surveyed 500 commercial general contractors and construction managers. Key findings include: Least prepared for the top risks: Survey respondents identified cybersecurity (42%) as the industry’s top risk, closely followed by concerns over cost overruns (35%), high interest rates (33%), labor shortage/lack of skilled labor (28%) and the potential for an … Read more

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New Research Shows How Collaboration Can Reduce Construction Risk

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NEW YORK, N.Y. – Three quarters of building owners and contractors have experienced a dispute or claim in the last three years, and nine in 10 say increased collaboration can be used to mitigate future risk, according to Managing Risk in the Construction Industry, a new SmartMarket Report from Dodge Data & Analytics. Produced in partnership with Alliant, and with support from e-Builder and Procore, the report is available for free download here. The report provides a unique link between specific risk reduction practices—like conducting regular meetings with the full project team, formal brainstorming and developing a plan to manage … Read more

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