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Construction Risk Update: Topics and Trends from the AGC Conference

Feb 06, 2019 Decorative image: construction workers

Recently, Hylant Construction Practice members attended AGC’s 2019 Surety Bonding and Construction Risk Management Conference. Attending events such as this helps us keep in step with industry issues and developments, which helps us safeguard and educate our clients.

Construction Market: General Overview and Forecast

Here are some of this year’s key topics and trends:

  • Continued limited supply of craftworkers
  • Strains on safety, quality, and scheduling
  • Public projects fewer, margins remain thin
  • Potential for uptick in surety claims
  • Top risks for today:
    • Continued limited supply of craftworkers
    • Reduced supply of field supervisors
    • More onerous contract language/insurance terms
    • Tighter schedules and increased complexity
    • Subcontractor default
    • New project delivery methods
  • Emerging risks anticipated by industry leaders:
    • Economic slowdown
    • Reduced population of field supervisors
    • Increased need for strategic agility
    • Succession pressure
    • Project size/complexity
    • Cybersecurity
    • Regulatory/legislative changes
    • Project funding
  • Tools for consideration to address emerging risks
  • Formal project risk assessments
  • Formal subcontractor evaluations
  • Captive insurance
  • Single project wraps
  • Subcontractor Default Insurance (SDI)
  • Contractor Controlled Insurance (CCIPs)

Breakout Sessions, Deep Discussions

Conference attendees spanned a variety of construction types and sizes and represented most U.S. regions, bringing great discussion and a broad spectrum of ideas to all the sessions. Topics included the following:

  • In-house design and trends
  • Crisis management
  • Delegated design
  • Workers’ compensation claims data
  • Medical and recreational marijuana
  • Blockchain and implications for construction
  • Critical Path Method (CPM) scheduling
  • Joint checks and joint check agreements
  • Modular construction
  • Large professional liability claims – lessons learned
  • Significant court rulings
  • Complex procurement
  • Captive insurance structures, uses, and performance
  • New technology – paradigms created
  • Efficient email management

We’re Here to Help

If you have questions about your risks or about any of the topics listed here, Hylant’s experienced construction risk specialists are ready to assist. Contact marc.holland@hylant.com for more information.

Marc Holland

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