EFI Global

Avoiding Construction Contract Claim Disputes

 Tuesday, May 8, 2018

 Risk Management

Any risk manager knows that the wording of a contract is important. Yet construction contracts are often completed without a thorough analysis of the underlying insurance requirements, or a review of the terms of the insurance coverage expected to cover losses arising from the project. As a result, when insurance claims are filed months later, organizations are forced to deal with the consequences of coverage issues that were not sufficiently reviewed during contract negotiations, including: Disputes among owners, contractors and subcontractors as to whose insurance is responsible for indemnifying a loss, and whether proper notice was provided with respect to all potential sources of insurance. . . .