Modular Construction: An Increased Awareness Needed Of Project Cargo Insurance

The modular construction sector is booming, driven by urban demand and labor efficiency. This process poses its own set of distinct risks, requiring a bespoke approach to project cargo insurance.

The modular construction sector is booming, propelled by its comparative advantages for high-density building in today's space and labor-constrained urban areas. However, the sector's innovative construction methods often require project owners and their insurers to create bespoke policies that can address some distinct challenges.

The modules are built off-site, under controlled plant conditions; then assembled on-site, like Lego blocks.

The rise in modular construction is in part being driven by urbanization and growing demand for affordable housing. The modules are built off-site, under controlled plant conditions, using the same materials, design codes and standards required by conventionally built facilities. They are then assembled on-site, like Lego blocks,