Abbreviation for Million and Thousand: K & MM Meaning
If you’re confused about the letter designations that stand for thousands and millions, you’re not alone. And it’s not your fault. In fact, it’s one of our most ...
Darrel Lamb, CPCU, AFSB
Is It Possible to Cancel a Bond?
We all know bonds are not the same as insurance. While bonds are considered to be a type of specialty insurance, and the surety is usually an insurance company, ...
Shayne Albine
Why Work in Progress Schedules Are So Important
“Can you send me a WIP that goes with this statement?” “Can you send me the fiscal year-end statement with WIP?” I’m sure you’ve heard those questions or some ...
Erik Mueller
Increase Your Bonding Capacity by Growing Your Business
Are you ready to grow your business? Maybe you’d like to bid on larger projects. Or the owner of your current job likes your work and wants to hire you for ...
Wayne Messick, AFSB
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
