The downturn in the construction industry
In the first of four bespoke articles from a Power hour roundtable discussion on the construction insurance market, Insurance Age tackles the effects on the market of the recent recession.
The construction market saw up to a 60% reduction in conveyancing transactions during the recession, according to one attendee at a recent Insurance Age roundtable discussion.
Participants, all working in or around the construction insurance market, were asked how the recession had affected their businesses.
Roy Partington, of Conveyancing Risk Solutions (CRS), said: “There was at least a 60% drop in new completions, and virtually a total wipe out of the re-mortgage market. So, yes, it was hit
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