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Construction Industry Trends and Predictions Through 2021 and Beyond: Insurance and Emerging Threats
May 5, 2021
A 2021 survey identified three key issues impacting the construction industry in 2021: (1) the financial health of contractors; (2) the continuing risk of the pandemic; and (3) technology driving productivity, but also increasing the risk of cybersecurity threats. With this backdrop, insurance premiums in the construction industry are generally on the rise in 2021.
Krista D. Warren
Finding Opportunity in Adversity: Optimism for the Construction Industry
September 8, 2020
Looking for good news? If so, you are not alone. Aside from the collective mental, physical and emotional human toll imposed by the COVID-19 pandemic, entire sectors of the economy have been ravaged, and old, familiar ways of doing business have been disrupted. Although deemed essential, the construction industry has not been immune to interruption and uncertainty during these unprecedented times. Amid new health and safety concerns, coupled with financial uncertainty, progress on projects has slowed, and the start dates for a number of new projects slated to begin in 2020 have been deferred. However, resilience has always been a trademark of contractors, subcontractors and other industry professionals. Reports indicate that while the construction industry lost more than one million jobs February through April, at least 600,000 of those jobs had been gained back by the end of June.
Justin M. Alaburda
2020 Marcum National Construction Survey Marks a New, Post-Pandemic Construction Environment
July 31, 2020
The results of the 2020 Marcum National Construction Survey are in, and the construction industry’s outlook for the remainder of 2020 and beginning of 2021 remains cautiously optimistic despite the COVID-19 global pandemic. Ability to find skilled labor, healthcare expenses, and material costs remain the top concerns for the industry, while “lack of future work” joins the list.
Krista D. Warren & Justin M. Lovdahl
Practical Advice: COVID-19's Impact on the Construction Industry
April 22, 2020
As a member of the American Bar Association, Forum on the Construction Industry, BMD participated in a COVID-19 Construction Leadership Roundtable discussion with over 450 other construction attorneys representing nearly every voice in the industry.
UPDATE: COVID-19 Considerations for the Construction Industry
March 26, 2020
The implications of COVID-19 for the construction industry are significant and rapidly evolving, since Governor Mike DeWine instructed Ohioans to “stay at home” via Order (the “Order”) effective March 23, 2020.
Brandon T. Pauley, David Scott, Bob Hager, Justin Alaburda and Justin Lovdahl