Are You Ready for a Hard Market?

Denise Gillin Uncategorized

Planning When You Don’t Need It Will Save You When You Do

By: Kirk Rathjen, Regional Vice President, Contract Underwriting, Merchants Bonding Company

Construction and surety have grown strongly over the past ten years with plenty of capacity, keeping the market soft, but it is always cyclical, so it’s just a matter of time before we start leaning toward a hard market. Some data analysts expect 2019 to be a cooling off period from the growth rates we experienced in 2018, slowly affecting construction activity. They predict “a deceleration” that takes us to a hardening market in 2020.

How can surety agents help contractors prepare for a hard market? Help them plan for it.

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