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NASBP News Alert – Court’s Decision Sets New Standard for CMs

Massachusetts Supreme Court’s Decision Sets New Standard for CMs’ Responsibility for Design The following article is an update on the Coghlin vs. Gilbane case. Michael C. Zisa, Esq. and Warren E. Friedman, Esq. of the law firm of Peckar & Abramson, P.C. describe how the Massachusetts Supreme Judicial Court’s decision creates a new standard governing the Spearin Doctrine and an ...

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Repetition Relief – Electronic bond forms to improve operational efficiency

Electronic bond forms to improve operational efficiency Surety bond producers know all too well the frustrations of entering the same bond data over and over into different surety companies’ systems. Now, there may be an end in sight to that repetitive task. NASBP, in conjunction with the Surety and Fidelity Association of America and ACORD, a global, nonprofit insurance standards ...

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Owner Practices that May Result in Construction Claims

By Andrew Avalon In a perfect world, the owner never changes his mind, the engineer never alters his drawings, the contractor never has execution problems, the resident engineer’s decisions are perfect, and Mother Nature behaves herself. That perfect world does not exist. In the real world, with geometric precision, the forces of owner, engineer, contractor, and Mother Nature combine to ...

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Surety Professionals Should Heed New Insurance Regulatory Guidance

By Dan Bonnet In the wake of some of the largest data breaches to hit health insurance companies, the National Association of Insurance Commissioners (NAIC) has followed on the heels of the Securities and Exchange Commission and has issued guidance on cybersecurity. Because nearly all surety bonds in the United States are underwritten by subsidiaries or divisions of insurance companies, ...

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