Consumers usually have a basic understanding of how insurance policies work. When it comes to surety bonds, however, professionals and consumers alike are often unaware of their purpose. Even those required by law to purchase…
A lot more goes into developing surety laws than the public might be aware of. Difficulties can arise at any point during the bonding process. The basic flow works like this: Legislators use their discretion…
It’s a sad fact of business life: employees steal. There are two kinds of employee theft a company needs protection against, and different surety bonds cover each one—dishonesty bonds and business service bonds. It can be…
Today’s Surety Market As the surety market balanced out in the mid-2000s, the underwriting process became more streamlined. Contractors now know what to expect when applying for a surety bond. A surety bond is a…
You can’t know where you’re going without knowing where you’ve been. At least, we wouldn’t recommend it. So today we’re taking a brief look at where the surety industry has “been” – namely, what it…