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CEF is encouraging NI companies from across the industry to take part in the biggest ever review of construction’s growing professional indemnity insurance crisis. In recent years firms from across the industry have reported sharp increases in premiums for PI insurance, while also seeing stricter curbs on the levels of cover.
A resilient sector in the second half of 2020 – but one with significant concerns about short to medium term workloads, profit margins and delays in their supply chains. These are the key findings of the Construction Employers Federation State of Trade Survey covering the last six months of 2020. The survey, which was conducted in late December/early January and contained the responses of 80 Northern Ireland-headquartered construction firms with a combined turnover of £1.5bn per annum, reflected an industry that got back on its feet with the lifting of restrictions on its activity due to the pandemic but which, at the start of 2021, looks into as uncertain a future as it has done since the 2008 recession.
The Trade Credit Reinsurance Scheme has been extended by 6 months to 30 June 2021 along with updated guidance.
The Chancellor has today announced that the furlough scheme, which had been extended until the end of March, will now be extended to the end of April.
DfI’s Chief Planner, Angus Kerr, has today published his latest Chief Planner’s Update.