Global construction rate trend report : Q1 2022 regional insights and rate trends

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      <subfield code="a">As we look back on the end of 2021 and into 2022, we can certainly see reasons for optimism. The construction industry outlook, for the most part, is positive. We still anticipate certain sectors will remain behind pre-COVID-19 levels (e.g., office) but the industry will be buoyed by increased numbers in other sectors such as infrastructure, manufacturing, and warehousing and even areas heavily impacted by COVID-19, such as hospitality construction, are eager to get back to developing and building. In our own industry, we are also seeing more indications of an improved marketplace but still supporting our commentary in the second half of 2021 that we are experiencing a two-tiered market. The tiers are delineated by those that have taken extra efforts to set themselves apart as best in class and can show the results. The required efforts transcend clients; today's marketplace requires insurers and brokers to work even more closely with clients and to use all the available tools such as data and analytics to create a bespoke story that shows why a particular risk is worthy of greater consideration from the markets and to set themselves apart from others.</subfield>
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