Understanding The Claim Process for Bonds vs. Insurance
Thinking about building a book of surety business? As an insurance agent, you’ll want to understand how the surety claims process differs from the insurance ...
Barbara Micek
What is Remote Notarization?
More than half of U.S. states have passed laws allowing document notarizations to take place remotely - known as Remote Online Notarization (RON), or virtual ...
Beth Harbeck
Why Your Construction Company Needs a Buy-Sell Agreement
Has the topic of buy-sell agreements come up in discussions with your attorney, surety agent or accountant? Chances are someone who cares about the future of your ...
Erik Mueller
Surety Bond or Letter of Credit for Contractors: What's the Difference?
Surety bonds and letters of credit (LOCs) both provide risk management for construction or development projects. Knowing which is appropriate to use, helps to ...
Scot Albrinck, AFSB
Contractors: Is Your Internal Record Keeping Helping You or Hurting You?
Let’s face it, the reason you went into construction is because you like being at the job site — not cooped up in an office. So you probably don’t spend as much ...
Wayne Messick, AFSB
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
