What to Expect - The New Revenue Recognition Standard
In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (“Topic ...
Seven Things You Didn’t Know About Surety
It’s really old Not only was surety mentioned in the ancient Code of Hammurabi (circa 1754 BC), but it is also mentioned in the Bible and in The Quran. Ancient ...
Horror Stories About Fidelity Coverage
Just in time for Halloween, we have real-life horror stories from the House of Haunted Insurers that are guaranteed to give you chills:
Personal Indemnity: ‘What? You Want My Spouse to Sign?’
We often get questions about the indemnity part of surety, especially regarding spousal indemnity. Contractors often understand the need to obtain a surety bond ...
The ABCs of Surety Bonds
What’s the difference between surety bonds and insurance? That’s a question I hear often, and it’s a good starting point for discussion. Knowing those differences ...
Picture Day for Contractors
If there is one thing I learned in grade school, it is that some days are more important than others. Most notably, in the life of a grade schooler, picture day ...
Insurance Agents Should Promote Business Service Bonds
We like to think that service employees are honest and always have the customer in mind. Unfortunately, an employee working in a customer’s home or business may ...
Construction Oriented CPAs Play Key Role for Contractor's Bonding Needs
We often hear contractors say that getting a job is the hard part – completing the project is the easy part. Many factors go into that, one of which is having ...
Fidelity Bonds: Good for Employers and an Insurance Agency's Bottom Line
It’s an all too common occurrence: A trusted, longtime employee starts stealing from the company. At first, it may be only a few small items. Then the employee ...
A Tale of Two Opportunities: Financing of Risk Through Subcontract Bonds
Last month I met with two contractors where subcontract bonds were a central topic. The first was a paper general contractor, meaning they administered the ...
