It will happen to almost every contractor at some point — an owner or project developer will try to sue you. Hopefully your insurer agrees you are covered, and you’ve dodged a bullet. But if your insurer tells you that you are not covered, things get sticky. One common strategy is for the parties to reach a settlement agreement. In my recent article for the Daily Journal of Commerce, I discuss a case that reached the Oregon Supreme Court that underscores the care that must be taken when reaching agreements to assign claims against insurers, and the importance of seeking the advice of competent local counsel. Read the full article here.
“Take Care in Reaching for Deep Pockets: Don’t Let Insurance Companies Off the Hook When Drafting Settlement Agreements in Construction Defect Cases” was originally published by the Daily Journal of Commerce on December 18, 2015.