Surety Bond Claims 101
There’s nothing quite like the sinking feeling you get when you hear there’s a claim against your bond. Despite your best intentions, it’s likely that you’ll face ...
Beth Harbeck
The Importance of License and Permit Bonds
There’s an element of risk in every business transaction. License and permit bonds were created so that municipalities could help protect citizens from ...
Tammy McBurney
Corporate Crime: How Fidelity Bonds May Reduce Its Impact on Your Business
Blog updated April 2021. The industry refers to employee theft as a white-collar crime — or corporate crime. It is a financially motivated, nonviolent crime ...
Old Republic Surety
Transitioning From Fastbonds to a Standard Bond Program
Especially now, at the leading edge of the post-pandemic construction boom, your agency’s contractor clients may need to increase their bonding capacity to take ...
Mike Sanders, AFSB
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 to ...
Darrel Lamb, CPCU, AFSB
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 ...
Traci Catalano
Why Character is So Important for Underwriting Surety Bonds
When a surety company asks personal questions of construction clients, they may think the surety is too invasive. Here’s why the answers to those questions are so ...
Darrel Lamb, CPCU, AFSB
Work in Progress Reports Benefit Contractors, Accountants & More
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 ...
Rich Sghiatti
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 ...
Mike Sanders, AFSB
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 ...
Mike Sanders, AFSB
