Emerging Risks Facing the Ready Mix Industry
- 9 hours ago
- 1 min read
Our recent webinar, "Emerging Risks Facing the Ready Mix Industry" hosted by C&B Risk Management Consultant Jace Glenn was a deep dive into the exposures reshaping the ready mix industry. As liability costs continue to rise, producers are finding that claims related to concrete performance often exceed the reach of a general liability policy, while nuclear verdicts fueled by third-party litigation funding push settlements far beyond typical budget expectations. This session explored where the marketplace is heading and the specific coverage and risk control moves producers are making to protect their bottom line.
Key takeaways...
Liability costs keep climbing, and renewals are only getting harder. Market conditions point to continued upward pressure, meaning ready mix operators should plan for tougher renewal conversations rather than expecting rates to level off anytime soon.
Concrete performance claims often fall outside general liability. Many companies don't realize the gap exists until a claim tied to product performance hits. By then, there are specific coverage options available to help close it before it becomes a problem.
Nuclear verdicts, fueled by third-party litigation funding, are driving settlements past what most operators have budgeted for. This is changing how claims are valued and litigated, and some states are now enacting reforms aimed at curbing the impact.