Meaningful Insight

On May 26, 2022, Senate Bill 2D (“S.B. 2D”) and Senate Bill 4D (“S.B. 4D”) became law. The stated purpose of S.B. 2D is to lower the costs for insurance companies in the hope that rates for homeowners will be lower.  Also, S.B. 2D strengthens an insured’s ability to pursue claims of bad faith against … New Florida Laws affecting Contractors

In Florida, the law requires lawsuits to be filed within certain time periods. The time period depends upon the type of claim, for example, a claim for breach of contract has a different time period than a claim for tortious interference. In the construction world, different claims have different time periods. What is the “statute … The Statute of Limitations and Construction Litigation

OSHA is planning on doubling its heat-related inspections during a three-year program that went into effect this past April. Pursuant to new guidance issued under its “National Emphasis Program,” OSHA seeks to ensure that employers are adequately protecting their employees from heat related illnesses. Of course, construction sites (in addition to other outdoor jobs) are … OSHA Cracking Down on Heat Illness Prevention

Factoring clients always ask us what they could have done differently to avoid lawsuits with their Clients and/or Account Debtors. In some cases, the Factor does everything correctly and litigation is inevitable. However, over the past several months, we have had Factors engaged in lawsuits that were largely avoidable if the Factor had taken certain … Case Studies on Recent Factoring Litigation

A relatively recent endorsement is becoming more and more prevalent in the construction industry, and given the large risks associated with it, we recommend that our clients make sure that it is not included as part of their policies. In addition, we strongly recommend that our clients make sure that their subcontractors are not carrying … Important Insurance Endorsement News for General Contractors and Subcontractors

The risks to contractors and subcontractors on construction projects have increased exponentially in recent years, and we don’t see them slowing down with the rising costs of construction. Contractors are being forced to agree to extremely abbreviated project schedules and higher liquidated damages penalties than ever before. Combined with supply-chain disruptions and material shortages this … Preserving Claims for Money and Time

One of a Factor’s main protections is its blanket security interest in all the Client’s assets, including the Client’s receivables. The security interest gives the Factor some level of protection that it will be able to be made whole in the event things go sideways. The security interest is most often provided for in standard … Why Factors Should Continue Due Diligence on Their Client After Filing Their Financing Statement