Extreme weather events, labor shortages, cyberattacks, and rising financing costs are placing increasing pressure on the global construction industry. According to a new report from Zurich Insurance Group, project insurability is becoming an increasingly decisive factor in determining whether projects secure financing and ultimately move forward.
«If a project is not insurable, it will not be financed,» says Kelly Kinzer, Global Head of Construction & Surety at Zurich. (Image: Shutterstock)
Tuesday, 16 June 2026 09:03
The construction sector is undergoing a fundamental transformation. Risks that were once viewed in isolation are now occurring simultaneously and reinforcing one another. That is the key conclusion of Zurich Insurance Group’s latest report, Beyond 2030: The Future of Construction, which draws on insights from 31 experts across underwriting, claims management, risk engineering, and construction.
Among the most pressing concerns are the effects of climate change. Extreme weather events and natural disasters rank as the industry’s most severe risks over the next five years, scoring 6.2 on a seven-point risk severity scale. Financial market vulnerabilities and labor market pressures follow closely behind.
