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June 8, 2023

Hunter Bendall Jr. contributes article to Commercial Construction & Renovation

The current trend in economic inflation is at its highest point in 40 years. That translates into significant challenges for individuals and businesses, including those in the construction industry.

Marsh McLennan Agency’s Senior Vice President of Surety and National Construction Practice Leader, Hunter Bendall Jr., recently authored a piece for Commercial Construction & Renovation. In the article, Hunter dives into the top two ways today’s economic inflation will impact the construction industry: an aging workforce and supply chain disruptions. Continued increases in material costs can impact profit margins and cause delays in project timelines, while labor shortages and wage shifts can further complicate projected expenses. Even more, the rate at which experienced workers leave the workforce puts more pressure on less skilled workers to pick up the slack.

Marsh McLennan Agency’s Business Insurance Trends report provides recommendations for leaders in the construction industry to minimize these risks.

Read the full article in Commercial Construction & Renovation.