POWER OF INTELLIGENCE

Insight Center: Webinars

An Introduction to Subcontractor Default Insurance

Speaker: Ira M. Schulman

4/25/2013

Thursday, April 25, 2013 | 1:00-2:30 PM EDT

For many years, owners and general contractors have looked for cost-effective alternatives to the traditional payment/performance surety bonds, which are three-way agreements whereby a surety guarantees to one party the performance and/or payment of another party. A new subcontractor default insurance (SDI), issued by Zurich Insurance under the name of Subguard, has emerged as a viable alternative that protects an owner and general contractor from the consequences of a defaulting subcontractor while eliminating many of the delays and other problems associated with traditional surety bonds. This interactive program will provide you with a firm understanding of subcontractor default insurance, including coverage parameters, exclusions and other important information.

The informative 90-minute webinar, hosted by WPL Publishing Co., Inc., publisher of Construction Claims Advisor and ConstructionPro Network, will help you:

  • understand what subcontractor default insurance covers and what is excluded
  • compare subcontractor default insurance to traditional surety bonds
  • identify the pros and cons of subcontractor default insurance
  • estimate the costs involved and evaluate whether it is worth pursuing for this new insurance product.