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Take advice from the experts on managing risk and insurance matters.
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Construction Business Owner, July 2008
For more than ten years, subcontractor default insurance has been promoted as a substitute for subcontractor performance bonds.[i] However, there are significant differences between bonds and default insurance.
Subcontractor default insurance does not perform or offer the same extent of protection as subcontractor bonds. Two of the key differences between surety bonds and subcontractor default insurance are prequalification and payment protection. As these differences become clear, surety bonds stand out as the most effective means to prevent subcontractor default and assure payment to the subcontractor's subs and suppliers.
Tags: 2008 July Issue , analysis , financial , insurance , legal , management , risk |
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Construction Business Owner, June 2008
A surety on a performance bond guarantees to the project owner that the construction contractor will perform the contract fully, in accordance with its terms and conditions. The nature and scope of what the surety is securing, the performance of the contract, is not set forth in the performance bond form.
Tags: 2008 June Issue , financial , insurance , legal , management , risk |
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Construction Business Owner, July 2008
Larger employers are often thought to have a health insurance cost advantage over their smaller brethren because they can "self-fund" their insurance. Smaller companies, on the other hand, must "fully insure."
Why should self-funding be superior to fully insuring?
Tags: 2008 July Issue , costs , financial , insurance , legal , risk |
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Construction Business Owner, June 2008
Construction is a risky business. Successful contractors can reduce risk to their balance sheet by managing and mitigating their contract risk with their clients and subcontractors.
When you work with a construction specialist, you will have a partner to help you understand and manage risk associated with the construction contracts you sign.
Tags: 2008 June Issue , insurance , legal , management , risk |
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