Sponsored Content

Sponsored content from Old Republic Surety Surety underwriters ask a lot of questions. They do so to fully understand your business to better support your project opportunities. Part of the process is determining you qualify for the size and scope of the projects for which you require bonds. If your organization cannot carry out the construction contract, your surety is ...

Sponsored Content from Old Republic SuretyPosted by Traci Catalano President Joe Biden’s Infrastructure and Jobs Act that passed in 2021 has opened huge opportunities to construction contractors who have the capacity to help rebuild U.S. infrastructure.  Because government contractors cannot work without surety bonds, those growth opportunities extend to surety producers at independent insurance agencies. Are you ready for more ...

Posted by Arthur Sonneland Sponsored Content from Old Republic Surety No one wins — the principal, the obligee or the surety — when a principal is terminated on a bonded project. A termination will generally require the surety to step in and 1) find another contractor to complete the project, 2) complete the project itself or 3) offer a financial ...

Sponsored Content from Old Republic SuretyPosted by Lisa Frasier Identifying potential problems in advance allows all parties to plan and act daily with a risk-avoidance mindset. Principals have a lot of control over surety losses. Adequate preparation and consistent follow-through will help prevent losses. Lisa Frasier, VP for claims at Old Republic Surety, recently wrote on NASBP’s Pipeline page about key indicators ...

Posted by Old Republic Surety A recent article in Business Insurance magazine, “Surety bond scammers sentenced to prison time,” reminds us that surety fraud is a serious crime that can have dire economic consequences for sureties, principals, obligees and the public. In this case, the victims were three contractors who were bilked out of $1.2 million by criminals who sold them phony ...

Sponsored Content from Old Republic SuretyPosted by Darrel Lamb, CPCU, AFSB If there is one thing I learned in grade school, it is that some days are more important than others. Most notably, in the life of a grade schooler, picture day was of great importance. This was the day you should look your best. It’s that one snapshot in ...

Sponsored Content from Old Republic Surety Posted by Darrel Lamb, CPCU, AFSB If you’re confused about the letter designations that stand for thousands and millions, you’re not alone. And it’s not your fault. In fact, it’s one of our most frequently asked questions. Here’s why you’re confused and what to do about it. Western civilization has had two powerful influences ...

Sponsored Content from Old Republic Surety Posted by Thomas A. Littlefield When a construction project is delayed, damage claims can result, and fingers are quickly pointed at the contractor to be held accountable for these damages. Planning for all the potential delays that can affect a project is not easy ― especially in today’s unpredictable pandemic environment with its supply ...

Sponsored Content from Old Republic Surety Posted by Erik Mueller Are you ready for your first surety bond? In Part 2 of this two-part blog, Mueller provides additional advice. Be sure to read Part 1 here. In my first blog on this topic, we talked about the importance of a professional surety agent and how to find one, and the financial information you ...

Sponsored Content from Old Republic Surety Posted by Erik Mueller This is Part 1 of a two-part article on acquiring your first bond.  Be sure to read Part 2 of Mueller’s advice for acquiring your first bond. Are you ready for your first surety bond? Maybe you’re bidding on your first public project, or the financiers of a private job require ...