Gaining momentum – and being explored by at least one local municipality – are actions and claims against sureties for violation of Nevada’s Unfair Claims Practices Act (“Act”). See NRS 686A.310. Claimants seek not only compensatory damages, but also punitive damages – to incentivize the surety to pay otherwise questionable or invalid claims. In our … Continue reading “An Emerging Strategy of Claimants – Nevada’s Unfair Claims Practices Act”

By Kurt C. Faux, Esq.1 and Colin R. Chipman, Esq. The downturn in the construction industry and the corresponding insolvency of many contractors has caused an ever increasing focus on the role of surety bonds. Despite the growing attention, the role of surety bonds is still often misunderstood by owners, contractors and subcontractors alike. As … Continue reading “Introduction to Construction Bonds in Nevada”