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Increased accounting effort required to isolate contractor and subcontractor costs and insurance burden; Potential for contractors to claim for non-project injuries not actually covered under OCIP; Contractors may have less incentive to control losses if they aren't buying their own insurance
Claims by the Federal Government against a contractor must be the subject of a decision by the Contracting Officer. [2] Apart from claims by the Federal Government alleging fraud in connection with a claim by the contractor, all claims by either the Federal Government or the contractor must be submitted within six years after the accrual of the ...
Professional liability insurance (PLI), also called professional indemnity insurance (PII) but more commonly known as errors & omissions (E&O) in the US, is a form of liability insurance which helps protect professional advising, consulting, and service-providing individuals and companies from bearing the full cost of defending against a ...
In a lawsuit that is not direct-action, a plaintiff brings the claim against the insured, who actually wronged the plaintiff. Once judgment has been rendered against the defendant , there are a number of ways that the insurance company (assuming the defendant is insured) might later be made to pay the victorious plaintiff.
Feb. 18—In the midst of recovery efforts following the August 2023 wildfires on Maui, the state Department of Commerce and Consumer Affairs last week urged property owners to prioritize hiring ...
The Federal Employers Liability Act was designed to put on the railroad industry some of the costs of the legs, arms, eyes, and lives which it consumed in its operation. Not all these costs were imposed, for the Act did not make the employer an insurer. The liability which it imposed was the liability for negligence.
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