Primary liability rates rise up to 10% in commercial construction: Lockton
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Primary liability rates rise up to 10% in commercial construction: Lockton

Lockton logo construction.jpg

Primary liability rate increases currently range from flat to 10% for most commercial projects, private broker Lockton disclosed in its annual construction market report.

Excess rate increases are less extreme, the broker reported, but still range from flat to 15%, impacted by large losses from construction defects, wildfires, ESG concerns and pro-plaintiff labor laws.

Further,

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