Insurers have tried discounts to encourage adoption of risk-management technologies before, but have they found the sweet spot to win over contractors and project owners?
California said June 23 it intends to sue US Interior Dept. and developer Golden State Wind LLC for an "unlawful agreement" to cancel $120M Morro Bay lease for 2-GW floating wind project.
Invenergy is the latest to accept $765M buyout of wind lease areas in exchange for new gas projects, but developer still is set to build the 800-mile Grain Belt transmission line for land-based wind and solar energy.
Investment and new releases continue to move more data centers, agentic AI platforms and construction automation forward in this roundup of recent developments in construction technology.
Probable Maximum Loss-based underwriting and delay-in-startup insurance constraints are capping limits, leaving one-third to half of project values outside traditional insurance
Hyperscale projects are outgrowing insurance capacity, leaving billions of dollars worth of construction risk uncovered as owners, contractors and insurers shift to partial-coverage.