The construction industry continues to struggle in the current economic downturn, with new project starts down in both the residential and commercial sectors. For the moment, however, securing builders risk coverage for projects that do get off the ground is one area that remains favorable for buyers, as insurers compete harder for less available premium opportunities.

While insurers are looking to raise rates in 2009, there is some debate regarding when, or even if they will be able to do so.

Some experts who spoke with National Underwriter said insurers may not be able to raise rates while the construction market suffers in the recession and indicated prices might become even more competitive as carriers continue to compete over dwindling business.

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