Prince George Construction Industry Trends
Prince George is northern British Columbia's largest city, with very little air pollution and many opportunities for residents to enjoy the outdoors. The quality of life is high, and the population is increasing at a steady rate of approximately 1-2 per cent per year. As a result of the city's popularity, the construction industry is booming, highlighting the need for construction insurance in Prince George.
2021 was a record-breaking year for the construction industry in Prince George, BC, with commercial and industrial building permits experiencing a 1,200 per cent increase in the first six months of the year. The construction industry is ranked number one in British Columbia's goods sector, employing over 215,000 employees in 26,262 companies.
Construction in Prince George provides services to projects throughout northern British Columbia. In addition to the typical commercial and residential construction projects, developments in the natural resource and tourism sectors throughout the region are maintaining high demand for construction companies.
Business Protection Through Construction Insurance in Prince George
With high growth and demand comes high risk and the need to protect assets against threats. HUB International can assist in developing a risk-management strategy to safeguard your construction business with solutions for a wide array of professions, including carpenters, electricians, interior workers, painters, plumbers and roofers. From bidding to completion, we will partner with you to find the right solutions to accomplish the following:
- Control premium rates
- Reduce workers' compensation claims
- Satisfy bond requirements
- Protect against liability claims
- Develop and maintain an attractive employee benefits programme
We have experienced professionals ready to help in the following sectors:
Contractors
Contractors involved in the bids, design, build and delivery of a construction project know that the stakes are high and the expectation is to get it right. The job of directing workers, negotiating disputes, handling delays and managing cash flow while staying on schedule is not for the faint of heart. Rest easy with assistance from our experts in construction insurance in Prince George:
- Surety bonds
- Subcontractor default coverage
- Insurance for property and casualty, general contractors and "wrap up" insurance (OCIP and CCIP)
- Employee health and other benefits
- Builders' risk
Construction Services, Owners, and Developers
Whether you are the owner or developer of a building or are leading a complex construction project, you are responsible for navigating the challenges that accompany these tasks, including project success and employee safety. The regulations, competition and demands from numerous stakeholders can be overwhelming, and failure to get it right can result in significant liability. We can help you with a tailored insurance solution and risk management plan to enable your business to thrive.
Subcontractors
The role of a subcontractor is inherently hands-on and risky, whether you work in electrical, plumbing, painting, masonry, roofing or other areas. We can help you manage the challenges of the job with risk protection and subcontractor insurance for the following issues:
- Workers' compensation
- Surety bonds
- Skilled worker shortages
- Environmental, general and professional liability
- Construction defects and change orders
Waste Management
Our expert team in Prince George understands the challenges experienced daily by those employed in the waste industry. Whether you are employed in MRF's and transfer stations, recycling, residential or commercial hauling, landfills, hazardous waste or CNG stations, we know your operational needs are complex and your daily risks are numerous. Our Environmental Team can assist with a risk management plan tailored to your business's individual and specific needs. Learn more about HUB’s construction insurance offerings!