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Wet Weather Holds Silver Lining for Construction Firms

By CIEEM Insurance Services
19.02.16

For much of December, the United Kingdom was battered by storms and plagued with flooding—which culminated in the wettest December in more than 100 years. This record-breaking weather caused more than an estimated £5 billion worth of damages to homes, businesses and other general infrastructure. However, amidst this devastation, there is a silver lining for construction firms.

Over the course of the next six years, the government plans to invest at least £2.3 billion in the construction of flood defences and an additional £80 billion in general infrastructure projects. In the more immediate future, at least £1 billion will be spent on repairing and rebuilding affected buildings. This considerable undertaking is expected to boost construction activity well throughout the first quarter of 2016.

With an abundance of forthcoming construction opportunities, your construction firm may be interested in tendering for some of the public sector contracts. To review all of the available contracts as well as forthcoming ones, visit the government’s contracts finder service. The service will allow your firm to search for opportunities by sector, status, value and date, and can be found at www.gov.uk/contracts-finder.

To read more download the full 1st Quarter 2016 edition of Construction Commercial Insurance Profile

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