Construction firms shy away from housebuilding due to insurance issues
Nearly a third of construction firms have been forced to switch from housebuilding to other types of work due to inadequate professional indemnity insurance, PII, according to an industry poll. The Construction Leadership Council’s, CLC, survey found SMEs were particularly badly hit by increased premiums and excess levels plus wide-ranging exclusions. Out of the 652 firms that responded to the poll, two-thirds said high-rise residential work accounted for less than five per cent of their workload. CLC PII group chair [...]