ORSC Blog

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 ...
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 ...
Where There’s a Will, Surety Can Guide Your Way: Meet ORSC’s Senior Contract Underwriter - Matt Payment Matt shares stories of his road-tripping adventure down ORSC Avenue, from “Roll Tide!” to ocean life to Graceland to Music Row. What do hard hats, site maps, neon ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
Maintaining Your Surety Relationship — Share the Ugly, Celebrate the Success In order to maintain a good relationship with your surety, you must be as transparent as possible. We really don’t like surprises. If anything happens with your ...

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