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Canada’s contractors are gearing up for a flood of federally funded infrastructure work. At the same time, the surety market supporting those projects remains stubbornly soft - even as claims pressure rises.

For Steve Hastings (pictured right), SVP, head of surety for Liberty Mutual Canada, that comb...

Richard Wulff, the executive director of the International Credit Insurance & Surety Association (ICISA), has said he will leave the organisation at the end of the year. 

“It’s a move made with mixed emotions,” Wulff said in a LinkedIn post. “On one hand, I have a deep love for this business...

Introduction

Eastern Steel Constructors, Inc. (a subcontractor, “Eastern”) supplied work on a Pennsylvania State University construction project for the general contractor Ionadi Corporation (“Ionadi”). Ionadi furnished a payment bond (the “Payment Bond”) naming International Fidelity Insurance Compa...

Changes to the way construction contractors and subcontractors recognize profits under Ontario’s Bill 60 mean builders can recognize profits sooner, which should reduce their borrowing costs and improve cash flow. Enacted last year, Bill 60 modifies the province’s Construction Act and other Acts and...

Pennsylvania's Supreme Court handed surety companies a major legal win on bad faith claims this week, but warned they must show up to arbitration proceedings.

The state's Supreme Court ruled that Pennsylvania's insurance bad faith statute does not apply to surety bonds, sparing the industry from pote...