Subcontracting trade work is common practice in the construction industry and managing subcontractor default risk is crucial to ensure the success of projects and partnerships at multiple levels. For general contractors (GC’s), building positive working relationships with subcontractors while protecting their interests is vital. Striking a balance between these goals is key when detailing subcontract terms. Clear and fair, yet effective, subcontract terms can help achieve this, while reducing the likelihood of default and minimizing the potential for disputes. Consulting with legal experts experienced in preparing and reviewing subcontracts is invaluable. That said, below are some important best-practice subcontract clause elements to initially consider. […]
Optio Group, the specialty MGA, today announces it has entered into an agreement with a new insurer partner to provide underwriting capacity for political violence and terrorism (PVT) risks. […]
This year marks the 36th anniversary of celebrating Black History Month in the UK. October is dedicated to celebrating the enduring accomplishments and contributions of both historical and contemporary Black individuals in shaping UK society and across the world. […]
It’s often easy to view the city as a concrete jungle, yet less than a mile from Lloyd’s an oasis has come to life – the Moat in Bloom at the Tower of London. In May 2022, 20 million seeds from 29 different species of flowers were planted in the moat of the Tower by Historic Royal Palaces to create a natural landscape and a haven for wildlife and visitors alike. […]
Immediately following the pandemic, the U.S. healthcare industry experienced deeper scrutiny from the Department of Justice (DOJ) and this has continued to intensify ever since. Armed with its primary civil tool – the False Claims Act (FCA) –the DOJ continues to sharpen its teeth in addressing false claims made under federal programmes such as Medicare, Medicaid and Tricare. And according to its recent report detailing 2022’s settlements, the healthcare industry remains squarely in its sights. […]