Christopher Barbarisi | Construction Executive | February 21, 2017 Design-builders, general contractors and “at risk” construction managers are all vulnerable to the risk of a subcontractor default. Aside from contract-related safeguards, such as increased retention, joint checks and letters of credit, subcontractor surety bonds have been the traditional mechanism for third-party risk transfer. First introduced in the mid-1990s, subcontractor default… Continue reading Techniques to Maximize SDI Coverage and Streamline the Claim Process
Tag: Subcontractor Default Insurance
Subcontractor Default Insurance – A Modest Rebuttal
Michael S. McNamara | Pillsbury Winthrop Shaw Pittman LLP | March 1, 2016 Subcontractor default insurance (SDI) was created more than twenty years ago. Despite its relatively recent vintage, SDI is now offered by multiple insurers and is quickly replacing traditional subcontractor payment and performance bonds as a go-to option on large-scale construction projects. SDI… Continue reading Subcontractor Default Insurance – A Modest Rebuttal