Pa. court case illustrates difference between surety and insurance

07/18/2013 | Lexology.com (free registration)

In dismissing a case brought by a contractor against the surety company that issued its performance and payment bonds, a federal court in Pennsylvania confirmed that a surety company's obligations to a principal fall short of the fiduciary relationship between an insurer and the insured. The court found that surety relationships are commercial relationships in which fair dealing and good faith are less protected than an insurance relationship.

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