/ ABOUT THE CLAIM Even the world’s sharpest surety bond underwriting cannot eliminate all risk or loss. On this particularly tragic claim, involving the framing subcontractor for a mixed-use building that incorporated several hundred apartment units, the one possibility that nobody had planned for was that the principal would pass away at an early age. This was a uniquely sad...
/ ABOUT THE CLAIM \ Recently, Guardian’s Surety Group was asked to investigate a claim for a subdivision involving 20 farm estate lots of 12-14 acres each. A common practice utilized on subdivision bonds that guarantee a developer will construct certain improvements can be observed when the municipal authority delays approval of the improvements. The developer, typically a limited liability company, is dissolved upon...
ABOUT THE CLAIM: . Recently, Guardian Group’s Surety Group was called in by a longtime client on an unusual claim. Although, that said, is there really such a thing as a “usual” claim in the worlds of surety and construction defects? No, not really. Every situation is different and must be assessed objectively, with the benefit of experience, of course,...