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Lenders.mistakes
This document provides an overview of common mistakes that lenders make regarding insurance. It discusses the importance of understanding insurance contracts and coverage details. Key points include: defining covered losses and determining how insurance proceeds will be used; ensuring sufficient coverage amounts and resolving valuation issues; avoiding assumptions that insurance proceeds substitute for lost collateral; and properly structuring additional insured endorsements and bonds. The document emphasizes the need for lenders to thoroughly read policies and endorsements to fully understand risk allocation and obligations.
Bna liens and trusts article
This document summarizes mechanics' lien and construction trust fund laws. It discusses how these laws vary by state but generally aim to protect contractors, subcontractors, and suppliers by giving them liens on properties they worked on and making certain project funds held in trust. However, these laws can conflict with secured interests like mortgages and bank accounts. The document examines court cases that have addressed disputes in balancing these competing claims.
Admiral.worth
1) Construction contracts often require subcontractors to provide insurance naming the general contractor as an additional insured. However, determining what qualifies the general contractor for coverage as an additional insured has been an ongoing legal battle. 2) In this case, the New York Court of Appeals ruled that for a general contractor to be covered as an additional insured, the accident or loss does not need to be due to the named subcontractor's negligence, but rather only needs to arise out of the subcontractor's operations. 3) However, in this specific case, the general contractor conceded the subcontractor was not negligent, removing the only possible link between the subcontractor's work and the accident,
Lenders.mistakes
This document provides an overview of common mistakes that lenders make regarding insurance. It discusses the importance of understanding insurance contracts and coverage details. Key points include: defining covered losses and determining how insurance proceeds will be used; ensuring sufficient coverage amounts and resolving valuation issues; avoiding assumptions that insurance proceeds replace lost collateral; and properly naming additional insureds and beneficiaries on bonds. Reading the full policy and understanding exclusions, limitations, and obligations is emphasized.
Insurance 201
This document provides an overview of various types of commercial insurance policies and concepts, including:
- Commercial Package Policies that bundle various coverage parts like general liability, property, and business income.
- The distinction between first-party insurance that pays the policyholder, and third-party insurance that pays others.
- The importance of reading the policy (RTFP) to understand what is and isn't covered, including any sub-limits or exclusions.
- Differences between excess policies, umbrellas, towers of coverage, and how policies may follow-form or have standalone terms.
- Concepts of self-insurance, large deductible plans, captives, reinsurance, fronting
Insurance 102
- Inland Marine insurance covers property that is movable or at risk of loss during transport, such as goods in transit, construction materials, fine art collections, and equipment used at various job sites. It provides both property coverage and business interruption coverage.
- Business interruption coverage pays for lost income and extra expenses if business operations are suspended due to direct physical damage to covered property. What constitutes physical damage and triggering events is often disputed.
- Inland Marine policies use broader language than standard property policies and typically cover all risks unless specifically excluded. They can cover loss of income even when insured property is not physically damaged.
MI PROYECTO DE VIDA
Evelyn Naranjo espera tener éxito tanto en su vida profesional como personal en el futuro. Profesionalmente, aspira a ser productiva para la sociedad con valores morales e intelectuales. Personalmente, desea mantener una buena actitud hacia la vida tomando en cuenta valores morales. Financieramente, le gustaría establecer una fuente de ingresos adicional como una tienda de calzado. Familiarmente, desea ver a sus padres sanos y poder apoyarlos económicamente, además de ser un ejemplo para sus hermanas.
Messy.mechanics.lien
1) A subcontractor was unpaid for road patching work it performed for Con Edison under a contract. It filed liens and sued Con Edison along with other parties.
2) The case involves complex issues around public improvement liens under New York's Lien Law, including questions around whether the work constituted a public or private improvement and whether valid liens were filed.
3) While the liens themselves may not be valid, the plaintiffs can still potentially recover against Con Edison through trust fund provisions of the Lien Law since Con Edison received project funds and commenced an interpleader proceeding.
Recommended
Lenders.mistakes
This document provides an overview of common mistakes that lenders make regarding insurance. It discusses the importance of understanding insurance contracts and coverage details. Key points include: defining covered losses and determining how insurance proceeds will be used; ensuring sufficient coverage amounts and resolving valuation issues; avoiding assumptions that insurance proceeds substitute for lost collateral; and properly structuring additional insured endorsements and bonds. The document emphasizes the need for lenders to thoroughly read policies and endorsements to fully understand risk allocation and obligations.
Bna liens and trusts article
This document summarizes mechanics' lien and construction trust fund laws. It discusses how these laws vary by state but generally aim to protect contractors, subcontractors, and suppliers by giving them liens on properties they worked on and making certain project funds held in trust. However, these laws can conflict with secured interests like mortgages and bank accounts. The document examines court cases that have addressed disputes in balancing these competing claims.
Admiral.worth
1) Construction contracts often require subcontractors to provide insurance naming the general contractor as an additional insured. However, determining what qualifies the general contractor for coverage as an additional insured has been an ongoing legal battle. 2) In this case, the New York Court of Appeals ruled that for a general contractor to be covered as an additional insured, the accident or loss does not need to be due to the named subcontractor's negligence, but rather only needs to arise out of the subcontractor's operations. 3) However, in this specific case, the general contractor conceded the subcontractor was not negligent, removing the only possible link between the subcontractor's work and the accident,
Lenders.mistakes
This document provides an overview of common mistakes that lenders make regarding insurance. It discusses the importance of understanding insurance contracts and coverage details. Key points include: defining covered losses and determining how insurance proceeds will be used; ensuring sufficient coverage amounts and resolving valuation issues; avoiding assumptions that insurance proceeds replace lost collateral; and properly naming additional insureds and beneficiaries on bonds. Reading the full policy and understanding exclusions, limitations, and obligations is emphasized.
Insurance 201
This document provides an overview of various types of commercial insurance policies and concepts, including:
- Commercial Package Policies that bundle various coverage parts like general liability, property, and business income.
- The distinction between first-party insurance that pays the policyholder, and third-party insurance that pays others.
- The importance of reading the policy (RTFP) to understand what is and isn't covered, including any sub-limits or exclusions.
- Differences between excess policies, umbrellas, towers of coverage, and how policies may follow-form or have standalone terms.
- Concepts of self-insurance, large deductible plans, captives, reinsurance, fronting
Insurance 102
- Inland Marine insurance covers property that is movable or at risk of loss during transport, such as goods in transit, construction materials, fine art collections, and equipment used at various job sites. It provides both property coverage and business interruption coverage.
- Business interruption coverage pays for lost income and extra expenses if business operations are suspended due to direct physical damage to covered property. What constitutes physical damage and triggering events is often disputed.
- Inland Marine policies use broader language than standard property policies and typically cover all risks unless specifically excluded. They can cover loss of income even when insured property is not physically damaged.
MI PROYECTO DE VIDA
Evelyn Naranjo espera tener éxito tanto en su vida profesional como personal en el futuro. Profesionalmente, aspira a ser productiva para la sociedad con valores morales e intelectuales. Personalmente, desea mantener una buena actitud hacia la vida tomando en cuenta valores morales. Financieramente, le gustaría establecer una fuente de ingresos adicional como una tienda de calzado. Familiarmente, desea ver a sus padres sanos y poder apoyarlos económicamente, además de ser un ejemplo para sus hermanas.
Messy.mechanics.lien
1) A subcontractor was unpaid for road patching work it performed for Con Edison under a contract. It filed liens and sued Con Edison along with other parties.
2) The case involves complex issues around public improvement liens under New York's Lien Law, including questions around whether the work constituted a public or private improvement and whether valid liens were filed.
3) While the liens themselves may not be valid, the plaintiffs can still potentially recover against Con Edison through trust fund provisions of the Lien Law since Con Edison received project funds and commenced an interpleader proceeding.
Secured Contracts, 21st Century Style
The document discusses surety bonds and their shortcomings as security for contract performance. It notes that the world has increasingly rejected surety bonds in favor of independent financial assurances (IFAs) that provide for payment on first written demand. American businesses risk missing opportunities by ignoring these alternative instruments. The document then provides background on surety bonds and their dependency on proving a default in the underlying contract through litigation.
Greening your business is pretty but it may be poisonous
This document discusses the growth of green building initiatives and standards like LEED. It notes that while LEED certification has become prominent, the process of achieving certification can be complex, with many choices around which standard and requirements to follow. This complexity is compounded for public projects that must also meet procurement requirements. The document also discusses risks like failure to achieve certification and emerging policies around reducing carbon emissions that will require upgrades to existing buildings.
Integrated Construction Contracting
We all know how important it is to make the design team coordinate the drawings. But when was the last time that the lawyer coordinated his contract terms with the architect's general requirements? Does anyone really know how the insurance program works? Is it correctly reflected in the contracts? The contract should be coordinated if you wish to avoid ambiguous documents and unnecessary claims.
Http _www.law360
Kevin Connolly is a partner at Anderson Kill who focuses on insurance recovery litigation and counseling. He discusses how the insurance industry has changed in recent years, with more disputes arising from policies that are more complex. Connolly also notes how the current economic climate has led to more litigation as companies seek to maximize their insurance coverage. Further, he explains how Anderson Kill differentiates itself from competitors by taking cases on a contingency basis and being willing to advance litigation costs for clients.
Messy.mechanics.lien
1) A subcontractor was unpaid for road patching work it performed for Con Edison under a contract. It filed liens and sued Con Edison along with other parties.
2) The case involves complex issues around public improvement liens under New York's Lien Law, including questions around whether the work constituted a public or private improvement and whether valid liens were filed.
3) While the liens themselves may not be valid, the plaintiffs can still potentially recover against Con Edison through trust fund provisions of the Lien Law, as Con Edison received payments for the work and represented that funds would be held in trust for subcontractors.
Insurance course 101
The document provides an overview of commercial property insurance. It discusses key concepts like the insuring clause, covered property, excluded property, amounts payable, and extensions/additional coverages. Specifically, it explains that property insurance covers direct physical loss or damage to covered property like buildings, business personal property, and personal property of others located at scheduled premises. It also outlines common limits, deductibles, valuation methods, and additional coverages provided.
Current Investment Opportunities Presentation
This document discusses opportunities for private investment based on past crises and recoveries in the stock market. It notes that corporate earnings have grown substantially since the 1960s despite various crises. While major crises often cause drops in stock prices, perceptions tend to recover and prices rise again as earnings grow. The document suggests current perceptions around sovereign debt and the global financial crisis may be creating undervalued opportunities for private investors.
Решение транспортной задачи «общенациональная система доставки»
Лариса Гайшук, Заместитель директора по операционной деятельности "УВК" выступила на семинаре 3e consultants с докладом на тему: Решение транспортной задачи «общенациональная система доставки»
Price Intelligence by PriceIQ: What Would You Do? Ep.1
This document discusses pricing behavior for a product that saw price differences of up to $40 within a single week. It presents scenarios a business might face such as stopping sales of the product, dropping margins, selling at a loss, renegotiating with suppliers, or going out of business. The document promotes PriceIQ as a solution for gaining price intelligence on pricing behaviors.
Tgt networks smm
The document discusses strategies for social media marketing, including building profiles on various social sites like Digg, Delicious, Flickr, Reddit, and others to gain traffic, links, and influence. It provides tips for creating robust profiles, contributing quality content, engaging with communities, and using tools like buttons and tags to promote content and build relationships. The goal is to leverage social media to help websites and brands control their online presence, gain links and traffic, and influence traditional media.
How we compare to traditional media
Unsure about how to best spend your limited advertising budget? This document compares DavesBillboard.com to other advertising options like phone books, newspapers, radio, television, and direct mailers. It outlines DavesBillboard.com's affordable rates and features like custom billboards that can be changed daily, business profiles with images and links, and social sharing capabilities. DavesBillboard.com also donates portions of payments to charities helping wounded soldiers.
Notes bariatrics 2
This document discusses notes (natural orifice transluminal endoscopic surgery) bariatrics. It summarizes a study of 21 patients who underwent either transvaginal sleeve gastrectomy or transoral extraction of the remnant stomach. Key results include:
- Average stomach volume extracted was 470cc.
- Average OR time was shorter for TORE at 91 minutes compared to 135 minutes for transvaginal.
- There were no post-operative complications.
- Weight loss at 6 months and 1 year was identical to traditional laparoscopic sleeve gastrectomy.
- Transvaginal and TORE approaches are concluded to be viable options for sleeve gastrectomy.
Real Estate Marketing
This document discusses the effectiveness of marketing signs for local businesses. It notes that signs allow marketing to customers 24/7 within a 5-mile radius, with most customers passing by 50-60 times a month. Signs are also found to be an inexpensive form of advertising, with 91% of target audiences noticing graphics and text on signs. Industry data shows rental, sales, and business opportunity volumes increased in recent quarters, demonstrating the ongoing value of signage.
Tgt networks digital marketing
This document discusses the complex landscape of digital marketing and the need for an integrated approach. It notes the ineffectiveness of many current campaigns, inconsistent execution, and low efficiency. It proposes a service management approach with collaborative supply-demand model to realize faster growth, leverage successes across markets/brands, and lower costs through standardization, common tools/processes, and transparency. This would provide an end-to-end digital solution through client management, innovations, and knowledge management to chart an adaptive course for customer engagement.
Перспективы развития транспортной отрасли в Украине. Решение транспортной зад...
Семинар консалтинговой компании 3econsultants "Перспективы развития транспортной отрасли в Украине. Решение транспортной задачи – организация общенациональной системы доставки"
How to share a billboard
This document provides instructions for sharing content from DavesBillboard.com on Facebook. It explains how to like DavesBillboard's Facebook page to receive updates. It also describes how to share individual billboard ads by clicking the Facebook share icon at the bottom of ads and posting them to your profile or friends' walls. This allows the ad to reach a broader potential audience on Facebook by linking back to the original billboard listing.
Lien bonds and the insolvent surety
Many times after a mechanic's lien is filed, the owner will "discharge" the lien by filing a bond. What happens if the surety fails?
Marketing.insurance
The document discusses issues with <Client>'s insurance coverage, including:
1) It is not clear that <Client> has a contract requiring $1 million in completed operations coverage as the endorsement states.
2) The excess insurance policies do not expressly obligate <Client> to maintain the required underlying coverage and could be invalidated.
3) <Client>’s insurance coverage should not depend on contracts with other parties but protect itself, and the three year limit on completed operations could deny claims arising later.
4) A clause suggesting lack of maintenance could invalidate coverage would likely lead to denied claims and complicate matters.
Best practices for commercial construction contracting 1-6
This document discusses the importance of coordinating construction contracts to properly allocate risks among parties. It argues integrated construction contracting requires reviewing all contract documents, including the project manual prepared by architects, to harmonize terms rather than allowing legal documents to override all others. Coordinating payment terms, responsibilities and procedures between legal and design professional documents is key to avoiding conflicts that could undermine the contract. The lawyer should work with the entire project team, including architects, rather than unilaterally imposing standard legal terms, to ensure the contract accurately reflects the agreed-upon deal.
Mind the gap
Construction contractors know that problems crop up when joining the work of two different trades. Gaps and blemishes abound. The same is true in construction insurance, which requires attention to the contracts and insurance.
More Related Content
Viewers also liked
Secured Contracts, 21st Century Style
The document discusses surety bonds and their shortcomings as security for contract performance. It notes that the world has increasingly rejected surety bonds in favor of independent financial assurances (IFAs) that provide for payment on first written demand. American businesses risk missing opportunities by ignoring these alternative instruments. The document then provides background on surety bonds and their dependency on proving a default in the underlying contract through litigation.
Greening your business is pretty but it may be poisonous
This document discusses the growth of green building initiatives and standards like LEED. It notes that while LEED certification has become prominent, the process of achieving certification can be complex, with many choices around which standard and requirements to follow. This complexity is compounded for public projects that must also meet procurement requirements. The document also discusses risks like failure to achieve certification and emerging policies around reducing carbon emissions that will require upgrades to existing buildings.
Integrated Construction Contracting
We all know how important it is to make the design team coordinate the drawings. But when was the last time that the lawyer coordinated his contract terms with the architect's general requirements? Does anyone really know how the insurance program works? Is it correctly reflected in the contracts? The contract should be coordinated if you wish to avoid ambiguous documents and unnecessary claims.
Http _www.law360
Kevin Connolly is a partner at Anderson Kill who focuses on insurance recovery litigation and counseling. He discusses how the insurance industry has changed in recent years, with more disputes arising from policies that are more complex. Connolly also notes how the current economic climate has led to more litigation as companies seek to maximize their insurance coverage. Further, he explains how Anderson Kill differentiates itself from competitors by taking cases on a contingency basis and being willing to advance litigation costs for clients.
Messy.mechanics.lien
1) A subcontractor was unpaid for road patching work it performed for Con Edison under a contract. It filed liens and sued Con Edison along with other parties.
2) The case involves complex issues around public improvement liens under New York's Lien Law, including questions around whether the work constituted a public or private improvement and whether valid liens were filed.
3) While the liens themselves may not be valid, the plaintiffs can still potentially recover against Con Edison through trust fund provisions of the Lien Law, as Con Edison received payments for the work and represented that funds would be held in trust for subcontractors.
Insurance course 101
The document provides an overview of commercial property insurance. It discusses key concepts like the insuring clause, covered property, excluded property, amounts payable, and extensions/additional coverages. Specifically, it explains that property insurance covers direct physical loss or damage to covered property like buildings, business personal property, and personal property of others located at scheduled premises. It also outlines common limits, deductibles, valuation methods, and additional coverages provided.
Current Investment Opportunities Presentation
This document discusses opportunities for private investment based on past crises and recoveries in the stock market. It notes that corporate earnings have grown substantially since the 1960s despite various crises. While major crises often cause drops in stock prices, perceptions tend to recover and prices rise again as earnings grow. The document suggests current perceptions around sovereign debt and the global financial crisis may be creating undervalued opportunities for private investors.
Решение транспортной задачи «общенациональная система доставки»
Лариса Гайшук, Заместитель директора по операционной деятельности "УВК" выступила на семинаре 3e consultants с докладом на тему: Решение транспортной задачи «общенациональная система доставки»
Price Intelligence by PriceIQ: What Would You Do? Ep.1
This document discusses pricing behavior for a product that saw price differences of up to $40 within a single week. It presents scenarios a business might face such as stopping sales of the product, dropping margins, selling at a loss, renegotiating with suppliers, or going out of business. The document promotes PriceIQ as a solution for gaining price intelligence on pricing behaviors.
Tgt networks smm
The document discusses strategies for social media marketing, including building profiles on various social sites like Digg, Delicious, Flickr, Reddit, and others to gain traffic, links, and influence. It provides tips for creating robust profiles, contributing quality content, engaging with communities, and using tools like buttons and tags to promote content and build relationships. The goal is to leverage social media to help websites and brands control their online presence, gain links and traffic, and influence traditional media.
How we compare to traditional media
Unsure about how to best spend your limited advertising budget? This document compares DavesBillboard.com to other advertising options like phone books, newspapers, radio, television, and direct mailers. It outlines DavesBillboard.com's affordable rates and features like custom billboards that can be changed daily, business profiles with images and links, and social sharing capabilities. DavesBillboard.com also donates portions of payments to charities helping wounded soldiers.
Notes bariatrics 2
This document discusses notes (natural orifice transluminal endoscopic surgery) bariatrics. It summarizes a study of 21 patients who underwent either transvaginal sleeve gastrectomy or transoral extraction of the remnant stomach. Key results include:
- Average stomach volume extracted was 470cc.
- Average OR time was shorter for TORE at 91 minutes compared to 135 minutes for transvaginal.
- There were no post-operative complications.
- Weight loss at 6 months and 1 year was identical to traditional laparoscopic sleeve gastrectomy.
- Transvaginal and TORE approaches are concluded to be viable options for sleeve gastrectomy.
Real Estate Marketing
This document discusses the effectiveness of marketing signs for local businesses. It notes that signs allow marketing to customers 24/7 within a 5-mile radius, with most customers passing by 50-60 times a month. Signs are also found to be an inexpensive form of advertising, with 91% of target audiences noticing graphics and text on signs. Industry data shows rental, sales, and business opportunity volumes increased in recent quarters, demonstrating the ongoing value of signage.
Tgt networks digital marketing
This document discusses the complex landscape of digital marketing and the need for an integrated approach. It notes the ineffectiveness of many current campaigns, inconsistent execution, and low efficiency. It proposes a service management approach with collaborative supply-demand model to realize faster growth, leverage successes across markets/brands, and lower costs through standardization, common tools/processes, and transparency. This would provide an end-to-end digital solution through client management, innovations, and knowledge management to chart an adaptive course for customer engagement.
Перспективы развития транспортной отрасли в Украине. Решение транспортной зад...
Семинар консалтинговой компании 3econsultants "Перспективы развития транспортной отрасли в Украине. Решение транспортной задачи – организация общенациональной системы доставки"
How to share a billboard
This document provides instructions for sharing content from DavesBillboard.com on Facebook. It explains how to like DavesBillboard's Facebook page to receive updates. It also describes how to share individual billboard ads by clicking the Facebook share icon at the bottom of ads and posting them to your profile or friends' walls. This allows the ad to reach a broader potential audience on Facebook by linking back to the original billboard listing.
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Greening your business is pretty but it may be poisonous
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Решение транспортной задачи «общенациональная система доставки»
Решение транспортной задачи «общенациональная система доставки»
Price Intelligence by PriceIQ: What Would You Do? Ep.1
Price Intelligence by PriceIQ: What Would You Do? Ep.1
Перспективы развития транспортной отрасли в Украине. Решение транспортной зад...
Перспективы развития транспортной отрасли в Украине. Решение транспортной зад...
More from Kevin Connolly
Lien bonds and the insolvent surety
Many times after a mechanic's lien is filed, the owner will "discharge" the lien by filing a bond. What happens if the surety fails?
Marketing.insurance
The document discusses issues with <Client>'s insurance coverage, including:
1) It is not clear that <Client> has a contract requiring $1 million in completed operations coverage as the endorsement states.
2) The excess insurance policies do not expressly obligate <Client> to maintain the required underlying coverage and could be invalidated.
3) <Client>’s insurance coverage should not depend on contracts with other parties but protect itself, and the three year limit on completed operations could deny claims arising later.
4) A clause suggesting lack of maintenance could invalidate coverage would likely lead to denied claims and complicate matters.
Best practices for commercial construction contracting 1-6
This document discusses the importance of coordinating construction contracts to properly allocate risks among parties. It argues integrated construction contracting requires reviewing all contract documents, including the project manual prepared by architects, to harmonize terms rather than allowing legal documents to override all others. Coordinating payment terms, responsibilities and procedures between legal and design professional documents is key to avoiding conflicts that could undermine the contract. The lawyer should work with the entire project team, including architects, rather than unilaterally imposing standard legal terms, to ensure the contract accurately reflects the agreed-upon deal.
Mind the gap
Construction contractors know that problems crop up when joining the work of two different trades. Gaps and blemishes abound. The same is true in construction insurance, which requires attention to the contracts and insurance.
Mind the Gap: connections are the places where coverage for losses becomes pa...
This document discusses risks associated with transporting materials and equipment to construction sites and integrating them into projects. It notes that builders risk insurance may not always cover these risks during transit or installation. It recommends securing dedicated inland marine policies called "installation floaters" to ensure coverage from shipment to final acceptance. These floaters avoid issues from lack of coverage, excluded causes of loss, or uncertainty over which policy applies. While not required for every project, installation floaters should be considered for high-value installations to fully protect against losses.
Bisnow
The NYC Department of Buildings issued an amendment that increased insurance requirements for new construction projects to $35M, which was impossible for builders to obtain, threatening to halt new construction in NYC. When Anderson Kill construction attorney Kevin Connolly recognized the problem, he alerted industry leaders who appointed him chair of a taskforce to address the issue. Kevin assembled a team, wrote a letter to the City, and within days the law was revised adopting his recommended changes, saving the NYC construction industry from coming to a standstill. In his spare time, Kevin enjoys playing paintball, where he is also considered a hero, and plans to attend a large game at West Point in October.
Insurance
The document discusses potential impacts of a strike by operating engineers on New York City construction projects worth nearly $10 billion. It would affect over 11,000 construction workers and halt work on major developments involving thousands of workers. These include several large World Trade Center towers and other residential and commercial buildings. Developers and unions are in discussions to avoid a strike, while the city has declined direct involvement.
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Best practices for commercial construction contracting 1-6
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Mind the Gap: connections are the places where coverage for losses becomes pa...
Mind the Gap: connections are the places where coverage for losses becomes pa...