Category: Blog

CONWAY, SC (WBTW) – An insurance company has filed a lawsuit against Horry County Schools and others alleging they haven’t been paid nearly $3 million for work on schools. The lawsuit was filed by Selective Insurance Company of America on Monday, the lawsuit says. Horry County Schools, MetCon Construction,...

While physical construction on the new Washburn Tech East campus is at a standstill, educational offerings will start as scheduled Jan. 7 at a temporary location, officials announced Monday. The Antioch Family Life Center, 1921 S.E. Indiana Ave., will host classrooms until construction is complete on Washburn Tech East,...

Partial termination and proper notice is contested Lawsuits are nothing new in construction insurance or surety, but some of them have novel twists. Such as a partial termination of a subcontractor by a prime contractor. And a countersuit by a surety against a contractor. One recent project had both....

One key lesson from Carillion’s demise is that risk mitigation tools may not provide the level of protection that contractors may need but the answer may be found in surety bonds When the UK’s second largest construction company declared insolvency on 15 January 2018 it sent shockwaves throughout the...

Duck Creek Technologies, the Boston-based insurance software company, has acquired Outline Systems LLC, a New Jersey-based provider of P&C insurance distribution channel management software, the companies announced Wednesday. “Outline’s distribution channel management software is a natural addition to Duck Creek’s platform and marks an important milestone in our growth...

FORT WAYNE, Indiana, Oct. 5 — The U.S. Attorney for the Northern District of Indiana, Thomas L. Kirsch II, issued the following news release: United States Attorney Thomas L. Kirsch II announced today a pre-suit settlement under the False Claims Act for fraudulently submitted claims payable with federal Blight...

Surety—Standing in the Shoes of Subcontractor—Is Barred From Asserting Defense of Concurrent Delay Because Subcontractor Failed to Seek a Time Extension as Required by the Subcontracts Fid. & Deposit Co. of Md. v. Travelers Cas. & Sur. Co. of Am., 2018 U.S. Dist. LEXIS 162265 (D. Nev., September 21,...

On Wednesday, Mexico’s leading surety group, Grupo Financiero Aserta AM Best affirms credit ratings of Aserta Seguros Vida, Grupo Financiero Aserta: A.M. Best has affirmed the Financial Strength Rating (FSR) of B++ (Good), the Long-Term Issuer Credit Rating (Long-Term ICR) of bbb+ and the Mexico National Scale Rating of...

NEW ORLEANS — Lexon Insurance Co. is seeking more than $2 million in surety bonds after Baby Oil, a Louisiana oil and gas producer, filed for bankruptcy in 2017, according to court documents. The lawsuit was filed in the Eastern District of Louisiana against a Thibodaux, Louisiana, couple who...

ACTION: Notification of temporary initiative to test lower fees; request for public comments. SUMMARY:This document announces a temporary decrease in the guarantee fees that the U.S. Small Business Administration (SBA) charges all Surety companies and Principals on each guaranteed bond (other than a bid bond) issued in SBA’s Surety...