Archive for: December 2017

Law360, New York (December 13, 2017, 7:03 PM EST) — Oklahoma Surety Co. is still on the hook for roughly $1 million in damages for denying coverage to a general contractor over a shoddy workmanship suit after the Fifth Circuit on Tuesday affirmed a lower court’s ruling that found...

A federal appeals court has reversed its earlier ruling and held a Travelers Cos. Inc. unit is not obligated to pay a subcontractor in a public project under its payment and performance bonds. The complex case involves Pearl, Mississippi-based McMillan-Pitts Construction Co. L.L.C., which was selected as the prime...

Canadian Surety Brokers and Bill 142 TORONTO, Dec. 8th, 2017 /insPRESS/ – The Construction Lien Act, Bill 142, which recently passed after an 87-0 vote in the Ontario Legislature brings about several long awaited improvements for the Ontario construction industry. While the new legislation is limited to Ontario, it...

WASHINGTON, Dec. 11, 2017 /PRNewswire/ — The Surety & Fidelity Association of America (SFAA) announced that President Lynn M. Schubert will retire on December 31, 2018. Ms. Schubert will continue to lead the SFAA through the end of her tenure and also will assist the Search Committee to be...

Lexon Insurance Company appealed a trial court decision and got it overturned An insurance company won a reversal of a court decision that the company breached about $7.7 million of surety bond contracts in connection with a residential development in Cape Coral. In 2005, Lexon Insurance Company issued two...

Ms. Zuk provided a personal guarantee for the business her husband founded (“Silverado”). Ms. Zuk was also an accountant, and was Silverado’s sometime bookkeeper and shareholder prior to her divorce from Mr. Zuk, Silverado’s principal. When Silverado defaulted on its loans, RBC called on the guarantee. Ms. Zuk argued...