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BEFORE ISSUING A BOND, A SURETY WILL EVALUATE A COMPANY USING THE THREE C’S: (1) CAPITAL, (2) CAPACITY, AND (3) CHARACTER. AND WHILE SURETYSHIP IS NOT A FIELD THAT CHANGES OFTEN, A SMALL SHIFT TOWARDS RELYING MORE ON CHARACTER IN THAT EVALUATION HAS BEEN MAKING ITSELF MORE VISIBLE IN RECENT YEARS.
Su...
Chubb Chairman and CEO Evan Greenberg insists his global P/C insurer has strong fundamentals, but warned at the same time that the ongoing pandemic crisis will spur unpredictable revenue challenges affecting many lines of coverage.
Broadly speaking, the insurer will likely take hits on the liability ...
A recent decision from the D.C. Circuit Court of Appeals provides notice to construction performance bond owners and sureties that a bond owner may forfeit its rights under a bond if timely notice of default is not provided to the surety. See Western Surety Company v. U.S. Engineering Construct...
Sometimes failing to arbitrate a dispute with a binding arbitration provision can be fatal to a claim under a construction contract, particularly if the limitation period to commence the arbitration has expired. But, in the case of a project with a performance bond, things can sometimes become...