建筑专业承包商风险报告

Contents 12 14 16 11 Foreword As we head into 2026, the construction cycle is gaining momentum, with specialtycontractors like you standing at the epicenter of the next wave of projects. Success requiresbalancing record opportunity with ever-increasing complexity. With unprecedented investments in data centers, power generation, and infrastructure,the scale and speed of execution required to meet growing demand are pressured bymultiple factors, such as supply chain volatility, skilled labor scarcity, tightening contractualterms, and technological/cyber risks. From a workforce perspective, mental wellnessand rising healthcare costs challenge specialty contractors’ ability to maintain a resilienttalent strategy. As projects continue to increase in scale, the stakes have never been higher. One projectdelay, nuclear verdict, or crippling cyber breach, can erase margins and cripple reputationsin the blink of an eye. Embedding risk management as a core competency is of paramountimportance in 2026 and beyond. This report examines how several interconnected dynamics are changing risk profiles inthe specialty sector. We provide eight key questions to contemplate for those moving frombasic risk financing strategies to strategic risk management. On behalf of Marsh Construction, we are pleased to provide practical guidance and insightsto support you in making informed decisions regarding risk, people, and strategy. Welook forward to sharing further insights on each of these topics in the coming months.In the meantime, feel free to reach out to the Marsh Construction team or your localrepresentative for further information. Jim DunnUS Head of Construction Coverage-risk misalignments createinsurability challenges From labor shortages to supply chain constraints to cyber threats and more, specialty contractorsface a wide range of dynamic risks. In the face of evolving and emerging challenges, buildingresilient organizations requires robust risk mitigation strategies and insurance programs. Further, some specialty contractors do not fully consider all insurancecosts — including hidden expenses, internal charges, and inflation overthe full course of the project — when bidding for contracts, potentiallyexposing them to significant financial risks. In fact, only 45% ofrespondents to a survey carried out jointly by Marsh and Engineering NewsRecord (ENR) in November 2024 said they engaged risk and complianceteams in contract negotiations, while just 39% train internal staff on bestpractices for contract negotiation. However, many specialty contractors face a common but criticalchallenge — their insurance programs often do not align with the actualrisks that their businesses face today and do not effectively take intoconsideration tomorrow’s challenges. This misalignment often occurs because insurance decisions are madewithout a clear understanding of the organization’s specific risk landscape.In some cases, this is due to the lack of dedicated risk managementresources, with insurance purchasing responsibilities falling on financialleaders who may not have the specialized expertise or tools to carry out acomprehensive risk evaluation. Underestimating costs can lead to underpriced bids and erodeprofit margins, potentially resulting in substantial unexpected lossesonce a project is underway. These risks underscore the importanceof comprehensive insurance cost analysis as part of a strategicbidding process. But without a thorough, tailored risk analysis, contractors may be payingfor insurance coverage that exceeds their needs while leaving problematicgaps unaddressed. Calculating the true cost ofinsurance can be a very complexexercise. According to Marshcalculations, organizations thatconsider only the face value of theirinsurance costs may underestimatetheir true costs by 25% to 30%. 4 KEY CHALLENGES HINDERING SPECIALTYCONTRACTORS’ INSURANCE BUYING PROCESS Additionally, specialty contractors on large projects oftenface owner- or contractor-controlled insurance programs(OCIPs and CCIPs) that streamline coverage but can leavesubcontractors financially responsible for certain costs. Thiscan lead to inaccurate risk pricing and unexpected financialexposure due to complexities in calculating insurance credits. •Insufficient insight into losses and emerging trends.While many specialty contractors often collect loss andclaims data, many companies — especially smaller andmid-sized firms — may lack the analytical capacity toeffectively interpret this data. Without the ability toidentify patterns, emerging trends, or root causes oflosses, contractors miss opportunities to implementtargeted risk mitigation strategies. This lack of insightcan also result in insurance programs that do not reflectthe contractor’s true risk profile, leading to either over- orunder-insurance. •Limited understanding of how risks affect the business.While contractors are generally wellaware of the risks impacting their industry, they maynot f