Due Diligence for Insurance Coverage in Transportation Construction Contracts (2015) / Chapter Skim
Currently Skimming:
Pages 23-27
The Chapter Skim interface presents what we've algorithmically identified as the most significant single chunk of text within every page in the chapter.
Select key terms on the right to highlight them within pages of the chapter.
From page 23... ...
23 obligation of good faith and fair dealing requires the insurance company to unreasonably, or without proper cause, act or fail to act in a manner that deprives the insured of the benefits of the policy.81 If an insurance company refuses to defend a claim, and the agency in good faith believes that the claim is one that is covered by the contractor's insurance policy, the agency may consider a bad faith cause of action against the carrier. Bad faith cannot be established by just the failure to exercise reasonable care: a breach of the implied covenant of good faith and fair dealing involves something more than a breach of the contract or mistaken judgment.
|
From page 24... ...
24 personnel. The authors assume, for the purpose of these items, that standard specifications are incorporated by reference into the road and bridge construction contracts and only unusual (or job special)
|
From page 25... ...
25 the time it becomes aware of a potential incident or accident. The insurance policy may include requirements to notify the contractor or insurance company as soon as an incident occurs or the agency becomes aware of it.
|
From page 26... ...
26 be difficult to make a claim against the appropriate insurance carrier and ensure coverage for a claim. In many states, breach of contract claims can be made for up to 10 years after the ending of a contract.
|
From page 27... ...
27 assigns from all claims or suits made or brought for bodily injury, death or property damage, arising from performance of the work to the extent of: (a) The negligent acts or omissions of the contractor, subcontractors, suppliers or their respective officers, agents, or employees; (b)
|
Key Terms
This material may be derived from roughly machine-read images, and so is provided only to facilitate research.
More
information on Chapter Skim is available.