Workers’ Compensation Safety Records Can Affect Your Bond Capacity

Nina ConnerUncategorized

Posted by Nancy Germond, MA, ARM, AIC, ITP, SPHR, SHRM-SCP, for OldRepublicSurety Once an owner or developer selects your company for a construction project, one of your many tasks is to ensure that your workers’ compensation program meets all contractual requirements. On larger projects, construction contracts normally detail which contractor is responsible for ensuring all workers have workers’ comp coverage. …

The Independent Agent’s Role in the Surety ‘Triangle of Trust’

Nina ConnerUncategorized

Posted by Darrel Lamb, CPCU, AFSB, for OldRepublicSurety Any definition of surety will list the three signing parties in a contract surety relationship: the principal (or contractor), the obligee (or owner of the project) and the surety. But often overlooked is the trio of surety players who work together for mutual benefit: the surety, the principal and an independent agent. Steve Hanson, …

Five Traits of the Safest Contractors

Denise GillinNews, Uncategorized

By Joe Bousquin for ConstructionDive.com Firms that follow these guidelines are six times safer than the industry average, according to the latest report from Associated Builders and Contractors. According to Greg Sizemore, ABC’s vice president of health, safety, environment and workforce development, the safest construction companies typically have: Robust substance abuse policy Intensive onboarding and new hire orientation programs Frequent and regular …

22 States to End Federal COVID-19 Unemployment Benefits

Denise GillinNews, Uncategorized

By Kim Slowey for ConstructionDive.com Montana Gov. Greg Gianforte will end the state’s participation in federal pandemic-related unemployment benefit programs by the end of June, making it one of the first states to fully opt out, according to a press release issued by the governor’s office. In addition, Gianforte has also proposed paying a $1,200 return-to-work bonus. Other states are also cutting …

How to Prequalify a Surety – and Why It’s So Important

Denise GillinUncategorized

Posted by Todd Taylor, AFSB, CPCU on SuretyBondQuarterly.org – Sponsored content from Old Republic Surety The number of surety companies represented in any region can make the task of prequalifying or differentiating among them challenging to say the least. Many bond agents and brokers have access to more than 30 surety company markets, and there can be important distinctions between …

Pennsylvania Contractor Charged With Stealing $20M From Employees

Denise GillinUncategorized

By Zachary Phillips for ConstructionDive.com In the largest case of its kind on record, one of Pennsylvania’s biggest road and bridge construction firms has been charged with stealing more than $20 million from its workers, according to the office of State Attorney General Josh Shapiro. After a three-year investigation, Glenn O. Hawbaker Inc. of State College, Pennsylvania, has been charged …

PPP Loans and Taxes: What to Consider Before You File

Denise GillinUncategorized

By Kim Slowey for ConstructionDive.com Tax season is upon us, and for contractors that borrowed money under the federal government’s Paycheck Protection Program last year in order to help their businesses survive the economic hardships presented by the COVID-19 pandemic, there are a few issues worth noting. The biggest impact to their 2020 corporate tax returns filed this year will …

NASBP & SFAA 2021 Joint Legislative Fly-in

Denise GillinUncategorized

National Association of Surety Bond Producers (NASBP) and Surety & Fidelity Association of America (SFAA) have been advocating for use of performance and payment bonds when states and/or localities receive federal grant funds for construction of rural broadband infrastructure projects such as those that are part of President Biden’s infrastructure plan. On March 25, NASBP and SFAA held their first-ever …

False Claims Act Anti-Retaliation Claim Leveled at PPP Recipient

Denise GillinUncategorized

By Roxanna Gonzalez of Dorsey & Whitney LLP for JDSupra.com A former employee of Great Dane Petroleum Contractors, Inc. a full-service Pollutant Control and General Contractor based in Florida, alleged in a recently-filed lawsuit that the company misused nearly $3 million in Paycheck Protection Program (“PPP”) funds. See Rucker v. Great Dane Petroleum Contractors, Inc., No. 21-cv-207 (M.D. Fla. Mar. …