A surety on bonded construction projects has equitable subrogation rights when it is asked to perform under its performance or payment bonds. This means that the surety can take the place of the entity whose claim has been paid and assert the same rights to the contract funds as that entity would have had.
On this NASBP Virtual Seminar, we are joined by Jacquelyn Klima of Kerr Russell, and Ashlee Rudnick of Intact Insurance Surety Group who will walk through cases that have set and upheld the legal precedent for equitable subrogation, what it means and why it's important.