With construction teams navigating the effects of the COVID-19 pandemic and the world’s material supply chains, securing project performance has perhaps never been at such a premium. If a contractor ...

Earlier this month, a subcontractor default insurance company filed suit against an electrical subcontractor in New York state court. The claim: a $12.8 million loss caused by the subcontractor’s ...

Unless the prime contractor formally defaults the subcontractor, there is no coverage under the policy and no way to collect on a policy claim, say Schrift, AON’s managing director. If you had to ...

Among the worst nightmares for every construction project is the subcontractor default, where a particular trade subcontractor cannot meet its contractual obligations due to insolvency, mispricing or ...

NEW YORK--(BUSINESS WIRE)--Hudson Insurance Group (Hudson) today announced that its new Subcontractor Default Insurance (SDI) business unit has commenced underwriting under the direction of Wallace ...

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Alliant Insurance Services, the nation’s largest specialty insurance brokerage firm, has announced that James ‘Jim’ Bly has joined its Construction Services ...

There are increasing reports that some subcontractors have decided to suspend operations during the COVID-19 outbreak. The subcontractors made this difficult decision even though the construction ...

FASA and NASBP recently commissioned a research project on the use of subcontractor default insurance (SDI) in the construction industry, and researchers are asking for help in collecting information ...

NEW YORK, June 23, 2020 /PRNewswire/ -- AXA XL's North America Construction insurance business has added an enhanced risk evaluation resource from TradeTapp, a preconstruction solution from Autodesk ...

After Hurricane Sandy, New York City hired Triton Structural Concrete, a part of T.B. Penick & Sons, to build and install most of the 35 lifeguard and bathroom station modules on the city beaches.