Recent Updates
January 19, 2012
Changes to the AIA Performance and Payment Bonds
November 29, 2011
Design Professional Service Corporation
November 14, 2011
No Damages for Delay Provision Saves Contractor's Delay Claim from Notice of Claim Provision
October 28, 2011
Pitfalls in Arbitration and Construction Lien Enforcement
October 04, 2011
Deductibles and Self-Insured Retention on Professional Liability Policies: What Owners Need to Know
Changes to Contractors' Insurance Requirements by the City of New York
Posted by: Evan I. Wagowski
September 30, 2011
Topic: Construction Insurance
As discussed more fully here, the Rules of the City of New York have been amended to require certain new liability insurance conditions be met before contractors can procure permits. RCNY Section 101-08 now requires, inter alia, that contractors’ insurance policies contain an endorsement requiring 30-days written notice be sent to the Commissioner of the Department of Buildings when a policy is cancelled, terminated, or modified. This provision, along with several additional policy obligations, may prove extremely difficult for contractors to obtain from their insurers. Going forward, it is imperative that parties work with counsel and their insurance brokers when procuring insurance policies.
