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1 2014 AGC of America Construction Industry Hiring and Business Outlook survey. http://www.nxtbook.com/naylor/NGCS/NGCS0414/index.php#/70
2 McGraw-Hill ENR’s Construction Forecast Report: 2014. http://www.nxtbook.com/naylor/NGCS/NGCS0414/index.php#/70
3 Bureau of Labor Statistics. Occupational Outlook. 2014
SOURCES:
66%
Amid the increase in construction, the industry
itself is changing. Take note of the following
developments that are increasing the risk
associated with construction projects. Is your
insurance coverage up to the job?
expect construction industry to grow
64% plan to add employees
53% anticipate purchasing new equipment
Construction's
on the Rise —
and so is Risk
Commercial Construction —
Industry Survey Indicates
Growth1
Workforce Numbers —
Growing Demand + Aging & Declining
Supply = Risk3
Construction Projects Forecast
to Rise = Opportunities2
9%
+15%
+15%
+16%
overall increase predicted
office buildings
hotels & motels
+19% other commercial
stores and shopping centers
1.7
19.5% to 25.2%
Aging workforce:
Increasing demand for new employees:
million
number of new workers needed by 2020
growth in percent of workforce aged 55 and
older by 2020
>5%
Declining supply:
Specialized Coverage for
Small Commercial Construction:
Loss Control and Risk Management:
loss of workers in age group of 25–54 due to
aging workforce and fewer choosing a
construction career.
Purchasing new equipment
Safety training and education for new hires
Fast, fair claims handling
Risk Control Consulting Center
Liberty Mutual SafetyNet™
We thoroughly understand the challenges and risks faced in the
construction industry and offer superior, specialized coverages
designed for construction firms like yours. Contact your
independent agent or broker to learn more about how
Liberty Mutual Insurance can help protect your business.
• Equipment breakdown
• Inland marine
Protecting employees
• Auto liability
• Workers compensation
On-site and off-site
• Builder’s risk
• Cyber liability
• Employee tool coverage
• Installation coverage
• Umbrella and excess casualty
Reducing Your Risk with Liberty Mutual Insurance
SafeguardingYour Business