ORSC Blog

Transitioning From Fastbonds to a Standard Bond Program Here are some important reasons why a contractor would want to transition from a credit-based bond program, or Fastbond, to a standard bond program - and how to ...
It's Pig Iron Under Water! To some of my fellow insurance professionals, the surety business has always had an air of mystery about it.  Perhaps it is the exotic language we use referring ...
Pure Guts - Pure Michigan Michigan's two peninsulas were finally connected in 1957, after 20 years of planning, and close to $100 million in construction and engineering costs with the ...
How Work in Progress Reports Benefit Contractors, Accountants, and Everyone Else Cost overruns are a common occurrence in the construction industry. It’s far too easy at the mid-point of any project to misjudge billing against the actual ...
Why Character is so Important for Underwriting Surety Bonds I remember receiving a particular account submission some years ago. The agent told me I was going to see some distress in their financial trend, but there were ...
7 Red Flags For Contract Bonds & Strategic Approach Fixes In the process of considering a contract bond request, there are certain circumstances that can raise red flags for a surety underwriter. To maximize their surety ...
Work in Process Reports | Key For Contractors and Surety Companies The Work in Process schedule (WIP) is one of the most important reports produced by a contractor's accounting system. Surety companies rely heavily on this report ...
4 Key Reasons to Have a Business Services Bond Even the most trusted employees can cause a loss. Your employees have access to your customer’s valuables while performing duties on their premises. Jewelry, ...
30% of Business Failures Are Caused By Employee Theft Losses due to embezzlement affect small businesses especially hard, because they cannot afford to absorb the losses. Nearly 30% of all business failures are ...
The Over and Under of Contractor Billings Large overbillings or underbillings can be an indication of problems that could jeopardize the stability of a contractor's bond program. Generally Accepted ...

Learn more about our services and how we can help you.

Contact Us