Financial Statements: What to Expect in the Underwriting Process
During the underwriting process, a surety company may request financial statements from both new and established clients. Financial reports provide us with a ...
Tammy McBurney
Worker’s Compensation: Tips on Licenses, Subcontractors, & More
Workers’ compensation can be a sticky wicket for construction firms. It’s an area where new contractors and veterans alike can find themselves in legal and ...
Old Republic Surety
Lessons from the Field: Why Business Continuity Planning Is Essential
Like it or not, ownership and management changes are a certainty in construction. According to FMI, every construction company that isn’t publicly traded will go ...
Wayne Messick, AFSB
Expect the Unexpected: The Importance of a Solid Continuity Plan
Growing up in a family that owned an electrical contracting business, I was always surrounded by a strong work ethic and dedication to the business. While my role ...
Scot Albrinck, AFSB
Cross-Selling Opportunities in Commercial Surety
An insurance agent who can accommodate clients’ surety bond needs along with their insurance is a well-rounded agent. You are providing your insureds with ...
Old Republic Surety
How Sureties and Contractors Can Mitigate Performance Defaults
No one likes it when a job goes south. The owner loses money, subcontractors don’t get paid, and there can be costly litigation. In short, it’s in everyone’s best ...
Alan Pavlic
Contractors Can Seek Relief Through The CARES Act
The vast majority of businesses in the United states are classified as Small Businesses under standards of the Small Business Administration (SBA). Deteriorating ...
Mike Sanders, AFSB
Underbilling: Why Your Surety Has Concerns — and You Should, Too
Underbilling occurs when work you’ve completed hasn’t been billed or costs you’ve incurred haven’t been reimbursed. Nearly every contractor has some underbilling ...
Rich Sghiatti
Will COVID- 19 Be Considered a Force Majeure?
On March 17, 2020 the City of Boston became the first city, but not likely the last city to close down all construction projects currently in progress due to the ...
Darrel Lamb, CPCU, AFSB
How to Prequalify a Surety — and Why It’s So Important
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 ...
Todd Taylor, AFSB, CPCU
