Welcome to Echo.
Whether it’s hurricanes, hail, freezes or floods, climate risks are shifting fast and formerly low-risk regions are being reassessed. Contractors are turning to technology and alternative insurance options like parametric coverage, while developers are designing for resilience. Be proactive planning and future-proof your construction business.
Fluctuating tariffs can impact everything from material costs to project timelines and insurance coverage, potentially causing unexpected liabilities. Consider owner or contractor-controlled insurance programs, and use builder’s risk, environmental and professional liability insurance to control costs long term.
Only 28% of employers offer family caregiver leave. Between kids and aging parents, employees are burning out, and businesses are feeling the impact. Forward-thinking employers are closing the gap with benefits like flexible scheduling, adjusted leave options and remote work opportunities, and measuring ROI through improved retention, engagement and productivity. Empower your workforce by reviewing your caregiving benefits strategy today.
To get the full scoop on construction and climate change, tariff-driven insurance risk and family caregiver support, check out the linked resources and visit NFP.com.
NFP's July Echo, your source for quick insights into business and industry trends.
In this month’s Echo, we’re diving into three key topics:
Climate Risks and Construction
Climate risks are accelerating across regions once considered stable, prompting real-time adjustments across the construction industry. As climate change evolves, contractors are adopting new technologies and exploring insurance alternatives like parametric coverage. Developers are prioritizing resilient, sustainable design to reduce exposure. Forward planning is critical to protect budgets, reduce delays and support long-term project resilience.
Tariffs and Insurance
The tariff impact on construction includes rising material costs and potential project delays, which increase exposure to financial and legal risks. To avoid unexpected liabilities, businesses are reviewing policies such as OCIP/CCIP, builder’s risk, environmental insurance and professional liability. A proactive insurance strategy can help control costs and strengthen protection.
Supporting Family Caregivers
Only 28% of employers currently offer formal family caregiver benefits despite growing demand. As family caregiving continues to strain today’s workforce, most benefits programs still fall short.
To address this, leading organizations are expanding caregiver benefits, offering employee assistance programs, and providing dependent care assistance. Paired with flexible schedules and remote work, these strategies help support working caregivers and strengthen workforce resilience.
