Deanna L. Koestel Quoted in Builder Magazine Discussing Rising Construction Insurance Premiums
Deanna L. Koestel, partner and co-chair of the Construction Law practice at Pashman Stein Walder Hayden, was quoted in the Builder Magazine article “Will Construction Insurance Costs Continue Their Upward Climb?” The article discusses how increasing insurance premiums remain a challenge to the construction industry, and that such increases stem from a number of factors.
The pandemic has a lot to do with it, too. As Deanna Koestel, co-chair of construction law at Pashman Stein Walder Hayden, explains, “COVID-19 brought a number of new challenges to the building industry, including a skilled worker shortage, project interruptions and delays, supply chain issues leading to higher material costs, and additional work practices and safety issues. These concerns exacerbated already rising costs due to increased cybersecurity exposure and catastrophic weather events that have significantly impacted the industry over the past few years.”
To view the full article, click here.