Posted on 3/30/2017 11:06 AM By Don Berry
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.
Posted on 3/28/2017 9:11 AM By Jeffrey Cavignac, James P. Schabarum, Patrick Casinelli
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.
Posted on 11/3/2016 10:53 AM By Mike Cifone
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.
Posted on 11/2/2016 8:17 PM By James Bly
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.
Posted on 11/2/2016 7:38 PM By Lenore Marema and Lawrence LeClair
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.
Posted on 11/2/2016 7:00 PM By Robert Murray
To address the security need, owners and contractors can be faced with a choice between traditional surety bonds and letters of credit (LOC). Additionally, parental guarantees are often included as a supplement or substitute for the security. These alternatives have unique implications that should be considered by contractors and owners when choosing the best path.
Posted on 11/2/2016 6:45 PM By Kathryn Woerheide
Construction Executive surveyed top leaders in the surety bonding industry to create a big-picture view of the current state of the market. Overall, the news is positive for contractors. Experts say construction and surety market cycles have been strong, creating increased competition.
Posted on 11/2/2016 6:37 PM By Jason Dettbarn
Successful contractors spend time and effort establishing their first surety company relationship. Contractors that want faster answers and the benefit of the doubt from their surety in a delicate situation will always welcome face-to-face visits with their professional agent and underwriter.
Posted on 11/2/2016 11:57 AM By Scott Paice
It is truly amazing how much risk contractors take on a daily basis for a seemingly modest return. Likewise, for the surety underwriter—which is, in fact, guaranteeing the contractor’s work—a tremendous amount of trust is involved.
Posted on 11/2/2016 11:02 AM By Don Berry
Eighteen surety experts offer advice on how contractors can take their bonding capacity to the next level, how character impacts bondability, the cash management techniques contractors should employ to be successful as the economy recovers, and the bonding implications as the government promotes joint ventures as a way for small businesses to participate in federal projects.