Below you'll find a list of all posts that have been tagged as “surety”
Arranging bonds and a line of credit with a surety company requires extensive, detailed work for each contract bid submitted. Many insurance agents do not focus their main energy, attention, or professional endeavors on the surety line of business and may not navigate the surety bonding process successfully for their clients. NASBP bond producers are committed surety professionals. They focus …
The U.S. Small Business Administration will be trimming the fees it charges for its surety bond guarantees for one year, the first reduction in the charges in 12 years. The cuts apply to guarantees approved from Oct. 1 through Sept. 30, 2019, the end of the coming fiscal year, SBA said in a Sept. 4 release. The agency is cutting …
Legislation passed late last year in Ontario that requires surety bonds for municipal contracts will likely expand the surety market in both the public and public-private sectors in Canada, industry sources say. The legislation may also have a knock-on effect on other provinces, they add. In British Columbia, the B.C. Law Institute is currently undertaking a review of the Builders …
Like runners preparing for a marathon, surety bond producers need to think long-term when building lasting connections with their contractor, subcontractor, and specialty trade clients. “The most important element in building a good relationship is building a level of trust,” said Eric Zimmerman, Vice President, Propel Insurance, Seattle, WA. “That just happens over time, with consistent feedback and follow-up and …
The U.S. commercial (non-residential) construction market outlook for the remainder of 2017 and through 2018 is expected to grow in the 4% range, according to the AIA Consensus Construction Forecast panel. This is slightly below its previous forecasts of 5-7% entering 2017. There are factors that could add tailwind to growth estimates, which include tax reform, financial deregulation, and a …
The U.S. Small Business Administration announced its most active surety companies and agencies for fiscal year (FY) 2017, which contributed to increases in the Surety Bond Guarantee (SBG) Program’s activity. Construction Bonds, Inc. (CBI) was named one of the top 10 performing bond agencies for 2017. The standing was determined by the number of bonds written through the SBG Program. …
Liberty Mutual has agreed to pay all cost overruns associated with delays in the completion of Clearfield Municipal Authority’s new waste water treatment plant, announced CMA Engineer Jim Balliet of Gwin. Dobson & Foreman. In May 2014 CMA began a $35 million project to construct its waste water treatment plant. But in early 2015, the original contractor, NVP of Jeanette, …
National Underwriter’s Top 100 and Heads of the Lines lists – the data for which is provided by S&P Global Market Intelligence – today offer a look at which P&C groups are premium leaders in 11 key lines: Private Auto, Commercial Auto, Commercial Multiperil; Inland Marine; Workers’ Compensation; Product Liability; Fire; Ocean Marine; Surety; D&O; and stand-alone Cybersecurity. Read more …
When you’re looking at the relevance of surety in today’s market and how it competes, to do that we need professional surety producers who understand clients and surety and how to match them, and also have all the skills in underwriting and contract and financial analysis. But what’s missing a lot of the time is being just as professional on …
