Recognizing, Shifting, and Mitigating the Risk of Subcontractor Default
Recorded On: 07/09/2013
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We look at the importance of subcontractor prequalification, the importance of subcontractor ongoing-qualification, risk mitigation tools used by general contractors for the emerging, small subcontractor, marginally qualified, or “once-qualified/now, not so much” subcontractor and risk shifting through subcontract bonds and subcontractor default insurance.
Steve Nelson
Executive Vice President and General Counsel, SureTec Insurance Company and President, SureTec Information Systems
Steve Nelson is Executive Vice President and General Counsel, SureTec Insurance Company and President, SureTec Information Systems, Inc. in Austin, TX. He joined SureTec Insurance Company, a regional surety company, and SureTec Information Systems, Inc., a construction financial services and risk consulting company, in 2001 after six years as CEO of Faulkner Construction Company, a large construction firm headquartered in Austin, TX. At Faulkner, Mr. Nelson e was part of executive management and de facto general counsel for sister companies involved in real estate development and the mechanical, stone and tile, road and bridge, and concrete - pumping businesses.
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