Construction Industry

THE INSURANCE INDUSTRY’S CONTRIBUTION TO THE CONSTRUCTION INDUSTRY

The construction industry benefits from claims filed under homeowners and commercial property insurance policies.

INCURRED LOSSES FOR HOMEOWNERS INSURANCE, 2008-2012 (1)

($000)

Year Incurred losses
2008 $42,531,094
2009 36,903,733
2010 39,497,587
2011 50,709,943
2012 41,107,253

(1) Losses occurring within a fixed period, whether or not adjusted or paid during the same period, after reinsurance transactions.

Source: SNL Financial LC.

INCURRED LOSSES FOR COMMERCIAL INSURANCE, 2008-2012 (1)

($000)

Year Incurred losses
2008 $141,340,999
2009 111,576,968
2010 112,727,166
2011 129,993,492
2012 126,819,159

 (1) Losses occurring within a fixed period, whether or not adjusted or paid during the same period, after reinsurance transactions.

Source: SNL Financial LC.