Performance Bonds and CGL Insurance in Construction Projects: Navigating Interplay Between Insurance and Surety
Minimizing Risks and Maximizing Recovery for Defective Workmanship and Property Damage
Recording of a 90-minute CLE webinar with Q&A
This CLE webinar will review the key differences between insurance and suretyship as well as the interplay between Commercial General Liability (CGL) policies and performance bonds for losses involving defective work and/or property damage. Our panel of experts will discuss best practices to minimize risk on construction projects through the use of both CGL policies and performance bonds.
- Surety bonds
- CGL coverage
- Faulty workmanship
- Property damage
- Owner vs. contractor vs. surety perspective
The panel will address these and other key issues:
- What are the distinctions between CGL policies and surety bonds?
- Where might performance bonds and CGL policies overlap in the context of a contractor’s default or other nonperformance?
- How has the recent expansion of CGL coverage for defective workmanship led to confusion with coverage under a performance bond?
Marc A. Sanchez
Mr. Sanchez focuses his practice on construction law. He has tried cases to juries and the bench throughout the... | Read More
Mr. Sanchez focuses his practice on construction law. He has tried cases to juries and the bench throughout the U.S. and has also successfully argued appeals in both state and federal courts. In addition, Mr. Sanchez has arbitrated many construction disputes ranging in value from $500,000 to $32 million. He counsels clients regarding claim avoidance, claim prosecution, and risk allocation as well as surety and insurance issues. Mr. Sanchez is a frequent lecturer and has authored numerous publications on insurance and construction issues.Close
Patrick R. Kingsley
Stradley Ronon Stevens & Young
As Chair of the firm’s Construction Group, Mr. Kingsley handles a wide variety of complex commercial disputes,... | Read More
As Chair of the firm’s Construction Group, Mr. Kingsley handles a wide variety of complex commercial disputes, focusing much of his practice on construction and surety litigation. He represents owners, contractors, subcontractors, design professionals, sureties and building product suppliers in construction disputes involving claims for delay, unforeseen site conditions, poor workmanship, design errors, performance bond claims, and payment bond claims, among others. Mr. Kingsley also serves as an adjunct professor at Rutgers University School of Law.Close