While infection control is currently a top priority on construction sites, it’s important to remain mindful of many of the other risks that remain on-site.
Whether working in residential, commercial, institutional, or infrastructure construction, the risks vary in size and complexity, and they can evolve throughout a project. According to a recent whitepaper by Northbridge Insurance, internal claims data shows the top loss causes for property in 2019 were water, fire, and theft. The average severity of water damage was $129,000, while average fire damage was $169,000 and average theft was $23,000. But these are only averages; the highest claim for water damage in 2019, for example, was over $1.5 million.
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