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 video webinar with Q&A
This CLE webinar will review the critical differences between insurance and suretyship and the interplay between CGL policies and performance bonds for losses involving defective work or property damage. Our panel of experts will discuss best practices to minimize construction project risk through both CGL policies and performance bonds.
Outline
- Surety bonds
- CGL coverage
- Faulty workmanship
- Property damage
- Owner vs. contractor vs. surety perspectives
Benefits
The panel will review these and other high priority 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?
Faculty
Fred Warren Jacoby
Vice Chairman
Cozen O'Connor
Mr. Jacoby is a commercial litigator with an emphasis on construction law. He has notably diverse experience and is a... | Read More
Mr. Jacoby is a commercial litigator with an emphasis on construction law. He has notably diverse experience and is a sought-after advocate and adviser who serves companies in the construction, real estate, and financial services industries. Mr. Jacoby represents clients in their most significant commercial litigation and regularly provides strategic counsel on operations and contracts to help clients avoid potential disputes. As senior adviser to the Construction Law practice, he represents owners, contractors, and construction managers in economic disputes with stakes ranging from several million to several hundred million dollars.
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Jay M. Levin
Principal
Offit Kurman
Mr. Levin is an insurance recovery attorney and serves as the chair of the firm's Insurance Recovery practice... | Read More
Mr. Levin is an insurance recovery attorney and serves as the chair of the firm's Insurance Recovery practice group. He focuses his practice on representing policyholders in disputes with insurance companies involving all types of insurance coverage. Mr. Levin has extensive litigation experience in multi-million dollar property insurance coverage cases, including suits involving policy construction and application, cause and origin, valuation, and business interruption issues. He has assisted clients in successfully resolving eight and nine figure Hurricane Katrina and Superstorm Sandy cases without litigation, and successfully representing other policyholders in litigating Katrina and Sandy cases. Mr. Levin represents financial institutions and other commercial policyholders in claims arising under fidelity and crime policies, including claims arising out of defaulted mortgages and employee embezzlement. He has also litigated significant professional liability and general liability coverage cases.
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