Posts Tagged 'Surety'

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The Power of Partnership: Choosing the Best Surety Agent for the Job

Thanks to several years of favorable industry-wide results, there is plenty of capacity in the surety marketplace. Carriers and agents are aggressively competing for contractors’ business. Most companies have probably received numerous solicitations from agents and brokers near and far, via the internet, promising larger programs, better terms and lower rates. 

In today’s soft market environment, practically any licensed insurance agent can help a firm obtain bonding. It is a buyer’s market right now and a great opportunity for contractors to establish their first bond line or reevaluate their current situation.

Filling the Surety Industry's Generation Gap

Word of the construction industry’s labor shortage is being heard loud and clear: Two-thirds of U.S. contractors are having a hard time finding qualified workers and possess a virtually nonexistent backfill of young talent entering the industry. But what about the surety professionals working behind the scenes? Are they facing the same challenges?

Aging Infrastructure Projects Call for Surety Bonding Protections

At a time when local, state and federal government budgets are under mounting pressure, allocating the resources to refurbish America’s aging infrastructure—the roads, bridges, railways, airports, water systems, pipelines and other components upon which our economy depends—is an increasingly difficult challenge.

However, the deplorable state of much of the nation’s vital infrastructure, which earned a D+ grade from the American Society of Civil Engineers (ASCE), can no longer be ignored. It is becoming an increasing drag on business productivity, as well as negatively affecting the convenience and safety of individual Americans.

Market Overview: Creating Sustainable Growth With Surety Bonds

Changes in the surety market have created opportunities for construction companies across the nation to achieve controlled and sustainable growth. 

A construction company must establish a strong network with legal and accounting professionals in order to be successful, but building a relationship with a surety bonding company places a contractor in a caliber of its own. Bonding capacity and prequalification transform businesses and help them prosper. 

Executive Insights

Get expert answers to questions on construction bonding, surety, risk management, dispute resolution and more.

Executive Insights

Nine experts offer advice on what contractors need to know about obtaining additional insured coverage, how to keep from overextending in the potential burst of construction activity under the Trump administration, insights on contractors purchasing surety bonds directly, trends in owner expectations for design-build projects and the benefits of the surety bonding prequalification process. 

2017 Insurance Market Forecast

The insurance industry’s surplus is currently at an all-time high—increasing nearly 50 percent in the last seven years—which means rates have begun to decline. Although most underwriters are trying to hold the line on rate, it is anticipated that pricing on preferred accounts will continue its modest downward trend. 

How Does Safety Impact Surety Bonding?

When safety issues become a factor in a contractor’s ability to finish a project, the surety starts to question what other issues might be out there that could have a negative impact on the contractor’s ability to complete the project.

Surety’s Impact on Emerging Trends in Public Construction

Given the choice of security requirements, the surety market continues to provide the product with the best combined benefit for contractors and their obligee in today’s evolving construction and surety markets. 

Surety Industry Advocates for Inclusion of Bonds on Federal and State P3s

Even though procurement methods have evolved—including the use of P3s—construction remains a risky business, making the protections that surety bonds provide for taxpayers’ investments and the payment guarantees for subcontractors and suppliers just as relevant and important in P3s. 

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