Managing different types of risk was the focus of the CEO Roundtable discussion at the ConstructionCAN conference, with the rise of theft, fire and water damage hot topics of conversation.
March 14, 2023
“When I looked at the construction segment…the number one claim in terms of count is theft,” said Wright at the conference, which was held in Tucson, Ariz. “About 38 per cent of our claims, just in numbers, not in dollars, is theft, whether it’s auto, equipment. That is on the rise. We’ve seen it on our auto but we’re seeing it in construction as well. You’re saying, ‘why is it on the rise?’ Well supply chain issues make things very valuable.
Procore CEO Tooey Courtemanche said as a global company he can see the risks faced in North America are similar to those faced in other parts of the world. “I always, in my calls with these folks, I ask them, ‘how are your backlogs?’” he said. “Across the board they remain very strong and healthy. There is a little bit of a cognitive dissonance that happens, which if you read the news and you read about all the stuff that is happening it sounds awful, but when these folks are running their businesses they are seeing that there still are areas of opportunity.
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