Construction Subcontractor Default Insurance: Maximizing SDI Coverage and Streamlining the Claim Process
Evaluating SDI as Risk Mitigation Vehicle, Minimizing Pitfalls of SDI Policies Covering Contractual Performance Defaults
Recording of a 90-minute CLE webinar with Q&A
Conducted on Wednesday, May 31, 2017
Recorded event now available
This CLE webinar will discuss construction subcontractor default insurance (SDI) as an alternative to performance bonds, the factors that should be considered in weighing SDI as an acceptable vehicle for performance risk protection, and best practices to maximize SDI coverage and streamline the claims process.
Description
SDI can be a viable alternative to surety bonds, depending on the size and scope of the project. SDI policies are purchased by the project manager and obligate the insurer to reimburse costs incurred because of subcontractor default.
Construction counsel must understand the differences between traditional performance bonds and SDI insurance, the pros and cons of SDI coverage, and whether SDI is a viable risk mitigation vehicle for a particular client or project.
Additionally, construction counsel must be able to advise clients on steps to take to mitigate some of the potential pitfalls of SDI policies, including maximizing coverage and streamlining the claims process.
Listen as our authoritative panel of practitioners guides you through the pros and cons of subcontractor default insurance, the differences between SDI and surety bonds, and best practices to maximize SDI coverage and streamline the claim process.
Outline
- Overview of SDI coverage vs. performance surety bonds
- Pros and cons of SDI policies
- Maximizing SDI coverage
- Streamlining the claims process
Benefits
The panel will review these and other key issues:
- What are the key advantages of SDI, and what are the drawbacks that must be considered?
- How do construction lenders view SDI policies as an alternative to performance bonds?
- What steps can construction managers take to maximize SDI coverage and streamline the claim process?
Faculty
Michael S. McNamara, Partner
Pillsbury Winthrop Shaw Pittman,
Washington, D.C.
Mr. McNamara's practice focuses on litigation of complex construction and engineering disputes, frequently involving claims for additional costs, delays and terminations. He has handled major trials of multimillion-dollar construction disputes and has represented owners, contractors and construction managers in many other cases successfully resolved in settlement.
Masaki James (Saki) Yamada, Partner
Ahlers & Cressman,
Seattle
Mr. Yamada’s practice focuses on complex construction, insurance, business litigation, commercial real estate, and communications law. He regularly represents and advises general contractors, subcontractors, developers, business and property owners, and design professionals in a wide range of legal issues from contract negotiations to payment disputes.
Recordings
CLE On-Demand - Streaming Video
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*Only available for attorneys admitted for more than two years. For OH CLE credits, only programs recorded within the current calendar year are eligible - contact the CLE department for verification.
**NH attendees must self-determine if a program is eligible for credit and self-report their attendance.
CLE On-Demand Video $297.00
Recorded Event
Includes full event recording plus handouts.
Strafford is an approved provider and self-study CLE credit is available in most states.
AK, AZ, CA, CO, CT, FL, GA, HI, IA, ID, IL, KY, ME, MN, MO, MT, ND, NJ, NM, NY, OR, PA, TN, TX, UT, VT, WA, WV, WY (Note: Some states restrict CLE eligibility based on the age of a program. Refer to our state CLE Map for additional information.)
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CLE Credits By State
Customer Reviews
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Matthew W. Willis
Ashley Ashley & Arnold
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ConocoPhillips Alaska
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Robbins Arroyo
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St. Jude Medical
The speakers spoke in an understandable format with lots of examples.
Bill Zornes
Cimarron Lumber
Real Estate Law Advisory Board
Partner
Ballard Spahr
Partner
Stroock & Stroock & Lavan
Partner
Robinson & Cole
Counsel
Sugar Felsenthal Grais & Hammer
Partner
Bryan Cave
Thomas C. Homburger
Of Counsel
K&L Gates
Counsel
Kilpatrick Townsend & Stockton
Partner
Pillsbury Winthrop Shaw Pittman
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