Serge Massicotte, chair of the CCA's insurance committee, notes that, "it's not just rate increases, but the fact that premiums are all over the place.
says warranties and tighter terms placed on policies by insurers are not a bad thing for the construction industry."I guess you could call it a forced risk management strategy and most firms are starting to get it," he
sees plenty of sub-contractors "who have hired a general broker to put together insurance and there are clearly exposures they are not covered for".
The alternative market is not a solution the broader construction industry is contemplating right now, says Massicotte
."The problem is the nature and size of the losses.Sure you could have a $100,000 self-funded program, but what difference will that make in a multimillion dollar loss?"he
says "insurers are continuing to take a very hard line on availability, coverage and pricing issues".