Commercial Surety 101: Why Contractors Need to Be Licensed and Bonded
Most states require contractors to be licensed to obtain permits for projects. State and local jurisdictions may also require contractors to be bonded in order to ...
01/21/21
Understanding the Claim Process for Bonds vs. Insurance
The claims process for surety bonds is considerably different from the process for an insurance claim. One significant distinction is which party is ultimately ...
12/04/20
Understanding the Claim Process for Bonds vs. Insurance
The claims process for surety bonds is considerably different from the process for an insurance claim. One significant distinction is which party is ultimately ...
11/02/20
Is It Possible to Cancel a Bond?
We all know bonds are not the same as insurance. While bonds are considered to be a type of specialty insurance, and the surety is usually an insurance company, ...
07/20/20
Insurance Agents Should Promote Business Services 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 ...
09/18/19
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 ...
12/07/18
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 ...
12/04/18
Corporate Crime - How Fidelity Bonds May Reduce its Impact on Your Business
The industry refers to employee theft as white-collar crime – or corporate crime. Corporate crime refers to financially motivated, nonviolent crime committed by ...
11/29/18
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 ...
10/12/18