It will usually provide coverage for some subcontractor supplies and equipment (but not all). Liability insurance: This is insurance against claims made by others for property damage or bodily injury. Often called “third-party” insurance, this comes in many forms, the most common of which is “Commercial General Liability” or “CGL.”
Your commercial general liability policy may cover the indemnity claim against you as an exception to the Contractual Liability Exclusion
Tender to Every Potentially Involved Subcontractor The liability insurance model for the project will be a determining factor in the complexity of managing the liability arising from the loss
The basis for the first holding is that disgorgement is both a liability created by statute and a penalty, and therefore falls under Code of Civil Procedure Section 340(a), a one year statute of limitations.
Access to Industry Bond Forms DBIA Bond Forms Now Available NASBP is pleased to announce that the NASBP Membership can access the 14 Design Build Institute of America (DBIA) bond forms that DBIA recently published. NASBP Bond Forms Through discussions with the American Institute of Architects (AIA) Contract Documents Program and ACD Operations, LLC, NASBP secured the permission of AIA to create NASBP-equivalents of the current editions of its bid bond document, AIA Document A310-2010, performance bond and payment bond document, AIA Document A312-2010, and warranty bond document, AIA Document A313-2020
Since reliance by a “known party” is one of the criteria for imposing liability for negligent misrepresentation in the absence of contractual privity, the appellate court held the trial court correctly dismissed that cause of action
Does the trigger for the indemnity obligation limit liability for losses “to the extent caused by” your alleged negligence, allowing lien claims, providing faulty owner information, etc.? Most states have statutes that limit the scope of some “broad form” indemnities, those triggered by the acts or omissions of the party you’re supposed to defend or indemnify, but it’s better to address these issues in the contract
The new statute, effective January 1, 2021, makes clear that lien waivers only waive lien or bond rights against the property and do not waive the right to file a lawsuit for non-payment