King & Wood Mallesons

Asia-Pacific 100 position: 3

Coverage for insured property works — who pays when the insurer’s contractor goes bust?

Insurers and insureds do not bear the risk of a contractor becoming insolvent when undertaking insured repair work. The insurer’s only obligation is to pay its appointed contractor and not any subcontractors engaged by that party…

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Level 61, Governor Phillip Tower
1 Farrer Place
NSW 2000

Jurisdiction: PRC/Australia
No. of offices: 20
No. of qualified lawyers: 1,252