PANEL DISCUSSION Risk Allocation and Insurance Issues

January 25, 2017 11:15am

Steven D. Ness
Surety Association of Canada

Wasiu Omotoso
Legal Counsel – Alternative Financing, Procurement and PPP
The Walsh Group – Walsh Construction & Archer Western


Maurice Audet
Senior Vice President, Regional Resource Leader, Risk Research & Solutions
Aon Reed Stenhouse Inc.

The risk of contractor failure or default is one of the least appreciated but potentially the daunting of all risks inherent in the construction process. Failure to manage this risk effectively can have catastrophic consequences for project owners, subcontractors and suppliers. This session will focus on demystifying the inherent risks of the construction contract in:
  • Identifying the various types of surety bonds and their use by project owners to reduce the risk of contractor failure
  • Common myths around surety bonds as a risk mitigation tool
  • Identifying contract provisions for risk allocation
  • Assessment, mitigation, and management