Overview
Bond claims arise from non-performance Canadian construction contracts often stipulate wrap‑up liability coverage and require contractors to coordinate with project‑specific builders risk policies. Municipal permitting and provincial building code compliance can influence insurance terms, as non‑conformity may void coverage in the event of a loss. Hold‑harmless and indemnification clauses in subcontract agreements need to align with your insurance policy's contractual liability provisions. Completed operations liability can remain for years after a project is finished, so limits should account for long‑tail exposures and potential defects.A bond claim occurs when contractual or regulatory obligations are not met. Canadian construction contracts often stipulate wrap‑up liability coverage and require contractors to coordinate with project‑specific builders risk policies. Municipal permitting and provincial building code compliance can influence insurance terms, as non‑conformity may void coverage in the event of a loss. Hold‑harmless and indemnification clauses in subcontract agreements need to align with your insurance policy's contractual liability provisions. Completed operations liability can remain for years after a project is finished, so limits should account for long‑tail exposures and potential defects.
Common claim triggers Canadian construction contracts often stipulate wrap‑up liability coverage and require contractors to coordinate with project‑specific builders risk policies. Municipal permitting and provincial building code compliance can influence insurance terms, as non‑conformity may void coverage in the event of a loss. Hold‑harmless and indemnification clauses in subcontract agreements need to align with your insurance policy's contractual liability provisions. Completed operations liability can remain for years after a project is finished, so limits should account for long‑tail exposures and potential defects.
Common Losses
• Contractor default • Non-payment to subcontractors • Failure to meet licensing requirements • Canadian construction contracts often stipulate wrap‑up liability coverage and require contractors to coordinate with project‑specific builders risk policies. • Municipal permitting and provincial building code compliance can influence insurance terms, as non‑conformity may void coverage in the event of a loss.
What happens after a claim Canadian construction contracts often stipulate wrap‑up liability coverage and require contractors to coordinate with project‑specific builders risk policies. Municipal permitting and provincial building code compliance can influence insurance terms, as non‑conformity may void coverage in the event of a loss. Hold‑harmless and indemnification clauses in subcontract agreements need to align with your insurance policy's contractual liability provisions. Completed operations liability can remain for years after a project is finished, so limits should account for long‑tail exposures and potential defects.
Core Coverages
The surety investigates and determines whether the claim is valid. Canadian construction contracts often stipulate wrap‑up liability coverage and require contractors to coordinate with project‑specific builders risk policies. Municipal permitting and provincial building code compliance can influence insurance terms, as non‑conformity may void coverage in the event of a loss. Hold‑harmless and indemnification clauses in subcontract agreements need to align with your insurance policy's contractual liability provisions. Completed operations liability can remain for years after a project is finished, so limits should account for long‑tail exposures and potential defects.
Talk to Boardwalk
Canadian construction contracts often stipulate wrap‑up liability coverage and require contractors to coordinate with project‑specific builders risk policies. Municipal permitting and provincial building code compliance can influence insurance terms, as non‑conformity may void coverage in the event of a loss. Hold‑harmless and indemnification clauses in subcontract agreements need to align with your insurance policy's contractual liability provisions. Completed operations liability can remain for years after a project is finished, so limits should account for long‑tail exposures and potential defects.
Choosing Limits
We help clients understand bond obligations and claim prevention. Canadian construction contracts often stipulate wrap‑up liability coverage and require contractors to coordinate with project‑specific builders risk policies. Municipal permitting and provincial building code compliance can influence insurance terms, as non‑conformity may void coverage in the event of a loss. Hold‑harmless and indemnification clauses in subcontract agreements need to align with your insurance policy's contractual liability provisions. Completed operations liability can remain for years after a project is finished, so limits should account for long‑tail exposures and potential defects.
