As we move through 2026, the global construction industry continues to face persistent complexity. Yet there is genuine cause for optimism, with strong growth, increasingly favorable insurance conditions, and rising demand for resilient, data-driven infrastructure, the Aon’s 2026 Global Construction Insurance and Surety Market Report says.

Aon, a leading global professional services firm, in its 2026 Global Construction Insurance and Surety Market Report finds that accelerating investment in digital infrastructure and data centers is reshaping construction insurance, underwriting priorities and risk transfer strategies worldwide.

Global construction activity continues to grow at pace, increasing from approximately USD 16 trillion in 2025 to USD 17 trillion in 2026, and is expected to reach nearly USD 22 trillion by 2030. Much of this growth is being driven by investment in energy production, infrastructure modernization and hyperscale digital infrastructure. This growth is unfolding alongside an estimated USD 260 billion in global natural disaster losses in 2025, reinforcing the importance of resilient design, disciplined program structuring and strong risk information as construction stakeholders manage cost, risk and project timelines.

While construction insurance markets are becoming more competitive across many regions, the report finds that underwriting discipline remains firmly in place for these large, technically complex and catastrophe‑exposed projects. Insurers are increasingly differentiating risks based on project governance, data quality and lifecycle exposure, particularly as data center development drives larger footprints, increased power requirements and more complex transition‑to‑operations risk.

Key construction market signals to watch in 2026:
 

• Construction insurance market dynamics are shifting, with increased capacity and competitive pricing for well-managed risks across many regions.
• Underwriting discipline remains strong for complex and catastrophe-exposed projects, with heightened scrutiny on contract structure, data quality and risk controls.
• Digital infrastructure investment is accelerating, resulting in larger, more power-intensive and technically complex projects that demand higher limits, advanced risk modelling and lifecycle-based approaches to risk management.
• The global surety market remains resilient, with capacity generally plentiful for strong credit risks and growing use of surety as an alternative to bank guarantees, supported by disciplined underwriting focused on aggregate exposure.

The report also notes that macroeconomic volatility, geopolitical risk and cyber exposure continue to influence project delivery, loss potential and underwriting appetite across global construction portfolios.

“Digital infrastructure is fundamentally changing the nature of construction risk”, said James MacNeal, Global Head of Construction and Infrastructure at Aon. “As projects become larger, more technical and more operationally critical, insurers are focusing on early engagement, high-quality data and program design that reflects how these assets are built and transitioned into operation”, James MacNeal added.

The report can be found here.