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Spending cuts force extra risk onto construction companies

Early indications from NCE’s latest survey of industry attitudes to risk management show that almost 50% of firms face an increase in fee disputes with clients this year.

Early results from NCE’s survey show how far savage public spending cuts are forcing clients to drive down prices.

The survey is being carried out in association with leading insurance broker Marsh.

Two thirds of the firms to have responded so far say lack of funding is making the UK the most challenging part of the world in which to operate.

Three quarters of firms are tackling the effects of shrinking spending programmes by entering new areas of activity, a move which brings its own risks.

Managing those risks is becoming increasingly costly, according to preliminary survey results. Two thirds of respondents say that insurance premiums have risen and more than half expecting to see them rise again this year.

We need your views

The NCE survey aims to provide a picture of the construction industry’s approach to risk and identify where more could be done to mitigate it.

NCE needs your help to inform this fascinating and business-critical debate.

If you are involved in risk management, we would like to get your views.

The survey has 36 questions in six sections. Almost all questions are multiple choice and the survey should take no more than 10 minutes to complete. Go to www.nce.co.uk/risksurvey.

Responses will be treated in the strictest confidence and the closing date for responses is Friday 11 March.
The results will be discussed at a round table event to which selected respondents will be invited.

It will be hosted by Marsh on Thursday 24 March and the results, along with a comprehensive analysis of the findings, will appear in NCE in April.

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