Construction Project Insurance Market Report 2026

The construction project insurance market size has grown strongly in recent years. It will grow from $8.38 billion in 2025 to $8.86 billion in 2026 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to expansion of large-scale construction projects, rising regulatory requirements for construction insurance, increased awareness of project risk exposure, growth in infrastructure development activities, wider adoption of contractor insurance coverage.

The construction project insurance market size is expected to see strong growth in the next few years. It will grow to $10.98 billion in 2030 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to growing infrastructure investment pipelines, rising complexity of construction projects, increasing adoption of digital underwriting tools, expansion of public-private partnership projects, growing demand for climate-resilient construction coverage. Major trends in the forecast period include increasing demand for comprehensive risk coverage solutions, rising adoption of digital insurance distribution channels, growing use of predictive risk analytics, expansion of project-specific insurance customization, enhanced focus on compliance and contractual risk management.

The rise in construction activities is expected to drive the growth of the construction project insurance market in the coming years. Construction activities involve the building, repair, or modification of structures such as buildings, roads, bridges, and other infrastructure. This increase is largely attributed to urbanization, as the growing concentration of populations in urban areas creates greater demand for residential, commercial, and infrastructure development. Construction project insurance offers financial protection against unforeseen risks associated with construction, helping to ensure project continuity and minimize delays. It protects stakeholders from liabilities, property damage, and worker injuries, thereby enhancing risk management and boosting confidence in project execution. For example, in April 2025, according to the United States Census Bureau, a US-based government agency, construction spending in the US reached $2.19 trillion in 2024, up from $2.07 trillion in 2023. As such, the surge in construction activities is contributing to the growth of the construction project insurance market.

Key companies in the construction project insurance market are focusing on the development of advanced technologies, such as IoT-enabled dashboards, to improve risk monitoring and enhance underwriting efficiency. An IoT-enabled dashboard is a digital tool that collects, displays, and tracks real-time data from connected devices, allowing users to manage risks, monitor performance, and oversee operations remotely. For instance, in June 2025, Brickeye, a Canada-based software company, introduced BuildersRiskIQ, a dashboard that integrates IoT sensor data to monitor major construction risks, including water damage, environmental factors, and site security. The platform offers actionable insights, automated notifications, and verified loss control data, enabling contractors and insurers to reduce claims, optimize coverage, and lower builders’ risk insurance premiums. It supports improved underwriting accuracy by facilitating transparent risk assessments and allows for data-driven decision-making through advanced analytics.

In March 2025, Chubb Limited, a Switzerland-based insurance provider, acquired property and casualty insurance businesses from Liberty Mutual Insurance Group in Thailand and Vietnam for an undisclosed sum. This acquisition is intended to bolster Chubb’s presence in Southeast Asia and expand its insurance offerings across emerging markets in the region. Liberty Mutual Insurance Group, based in the US, provides a wide range of insurance solutions, including construction project insurance.

Major companies operating in the construction project insurance market are Allianz SE, Munich Reinsurance Company, American International Group, Tokio Marine Holdings, Liberty Mutual Insurance Group, Swiss Reinsurance Company Ltd, Zurich Insurance Group, Chubb Limited, The Hartford Insurance Group, Sompo International, QBE Insurance Group, Everest Re Group, CNA Financial Corporation, Markel Corporation, AXA XL, FM Global, Arch Insurance Group, Aspen Insurance Holdings, Berkshire Hathaway Specialty Insurance, Beazley Group.

North America was the largest region in the construction project insurance market in 2025. The regions covered in the construction project insurance market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the construction project insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The construction project insurance market includes revenues earned by entities through risk coverage, project-specific liability coverage, and professional indemnity insurance. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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