Subcontractor Default Insurance (SDI) “Strategies”
SDI Educational / Training Programs
4Sight Risk Management Strategies LLC offers several SDI focused Educational, Training Programs and Seminars. Our programs can be facilitated in person (preferred) or over the internet/phone:
Managing Subcontractors Under SDI. This seminar will help your Job Teams prevent Subcontractor Defaults. While it is designed for Job Teams (including Safety), it is also a valuable program for Estimators, Purchasing and Pre-con. We review why subcontractors fail, the warning signs that a subcontractor may be having problems, SDI Risk Management for troubled subcontractors, and what can be done to minimize the financial impact of a default. This program takes between 1 ½ and 2 hours. It is ideal for Lunch and Learn or breakfast seminars. Optimal program size is between 5 and 12 persons.
Subcontractor Pre-Qualification Simulation. This is a hands on simulation in which participants work as teams to qualify subcontractors as a means to learn or review the various “red flags” that a subcontractor might not be qualified for that particular Job . This is a great learning opportunity for less experienced staff, and a good review for the guys who have been around the block. Participants will have to determine what information they need, what questions to ask, where to look for good information. They will bmake a decision as to which subcontractors are qualified for that job, and which subcontractor will be offered the subcontract. This Simulation is better in larger groups of at least 8 persons and takes approximately 2 hours.
Selling SDI to Project Owners. This is an interactive seminar which not only reviews the multiple strategies used to persuade project owners into using your SDI program, but also helps participants to create a platform for marketing materials. We also review contract clauses necessary to facilitate the use of SDI in the owner contract.
Selling SDI to Project Lenders. Similar to Selling SDI to Project Owners, but there are differences in the approach and the benefits to the lenders. Typically, the two seminars are facilitated together. These take between 1 ½ and 2 ½ hours combined.
SDI Claims “Strategies”. This is ideal for your SDI team prior to an actual default, and even better for the team who will be handling a default that is in the works or just took place! Learn ways to improve your “proof of loss”, how to avoid FYIs, to maximize speed of payments. Understand what are covered direct and indirect costs. In fact, if this seminar is performed in conjunction with a default, the cost would be a covered cost under SDI!
“The only thing that interferes with my learning is my education. “
Albert Einstein