Spiralling insurance costs crushing firms, claims advisor warns

By Tom Lowe2021-02-24T06:00:00

Source: Shutterstock

Over 40,000 construction companies closed in 2020

The spiralling cost of insurance contributed to the closure of more than 40,000 construction firms last year, insurance buyer Mactavish has warned.

Some 44,430 construction firms went under in 2020, over 4% more than in 2019 and 18% more than in 2018 according to ONS data.

Already registered? Login here

To continue enjoying Building.co.uk, sign up for free guest access

Existing subscriber? LOGIN

Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.

Limited access to building.co.uk
Breaking industry news as it happens
Breaking, daily and weekly e-newsletters

Get your free guest access SIGN UP TODAY

Subscribe now for unlimited access

Subscribe to Building today and you will benefit from:

Unlimited access to all stories including expert analysis and comment from industry leaders
Our league tables, cost models and economics data
Our online archive of over 10,000 articles
Building magazine digital editions
Building magazine print editions
Printed/digital supplements

Subscribe now for unlimited access.

View our subscription options and join our community