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Subcontractor Default Insurance
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Know the pros and cons of subcontractor default insurance so you are prepared for your next project.

4/5/2016
When: Tuesday, April 5, 2016
1:00 PM
Where: Online Webinar
United States
Contact: Lorman Education

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This Webinar is approved for CPD Credit.  Click here to register online at a discounted rate.  

 

Know the pros and cons of subcontractor default insurance so you are prepared for your next project.

 

Are you involved on a complex and large-scale construction project, whether from the owner or general contractor's perspective? If so, has the topic of subcontractor default insurance (SDI) been discussed? If you are involved in such a project, SDI is an important topic since SDI would generally serve as an alternative to requiring subcontractors to obtain performance bonds. SDI is a first-party insurance policy, but operates differently than the first-party insurance policies you typically think of such as a property insurance/builder's risk policy. SDI is not a performance bond and operates differently than a performance bond. SDI is designed to cover more catastrophic-type defaults and can be a useful insurance policy on well-managed projects. This topic will explain the differences between a performance bond and SDI, discuss how a SDI policy operates, and touch upon the positives and negatives of SDI.

 

Learning Objectives

- You will be able to recognize the pros and cons of subcontractor default insurance.

- You will be able to discuss how subcontractor default insurance works.

- You will be able to explain how subcontractor default insurance operates as a form of insurance for catastrophic subcontractor defaults.

- You will be able to review the difference between subcontractor default insurance and performance bonds.

 

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