Liberty Mutual Surety: COVID-19 Impact on Contract Surety in the US

By: Fran McGrath, Chief Credit Officer, Liberty Mutual Surety

The U.S. construction industry felt the first wave of the impact of COVID-19 when China’s Hubei province went into lockdown and manufacturing facilities that produce construction materials for U.S. consumption were forced to halt production. In more recent weeks, significant labor force and supply chains challenges in countries around the globe, combined with government-imposed shutdowns, are stopping some U.S. construction projects in their tracks.

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