In the dynamic world of construction, having options may be a strategic advantage. That’s why we offer contractors a Back-Up Contract Surety Program. This is non-disruptive way to protect you against unforeseen changes in your broker and surety relationships, with your needs as a business, and with changes in the surety marketplace. A back-up surety program is a secondary bonding relationship that complements your primary surety arrangement. It does not replace your current agent, broker, or…

Bonding companies use qualitative and quantitative factors to determine the credit they will extend to a contractor. They underwrite their book of business with the assumption that there will be no claims. Issuance of a bid or performance bond is a seal of their confidence in you. When a contractor has sufficient capital and liquidity, a reputation for quality, timely work, and capacity to complete the work, a surety will extend adequate credit. Weaknesses in…

Crime insurance is a key component of your business’s risk management strategy. It provides coverage for losses resulting from acts such as theft, fraud, and embezzlement. This article will explore the coverages, enhancement endorsements, limitations, and important considerations. Key Coverages Employee Theft: Covers losses resulting from theft committed by employees. Forgery or Alteration: Protects against losses from forged or altered checks, drafts, or promissory notes. Inside the Premises – Theft of Money and Securities: Covers…

Following years of challenging market conditions and strict underwriting scrutiny, most employment practices liability (EPL) insurance buyers with good claims history enjoyed modest premium increases in 2024. According to Zywave’s Commercial Property & Casualty Insurance Pricing Survey—which surveyed brokers from across the United States—EPL brokers experienced a less challenging pricing environment in 2024. Many respondents reported price increases of 5% or less. Overall, pricing in the EPL market remained stable in 2024, largely due to…

After sustained periods of volatility driven by technological advancements, evolving cyber risks, environmental, social and governance (ESG) developments, and litigation shifts, the directors and officers liability (D&O) insurance market has moderated in recent years. Since 2022, the sector has softened, characterized by abundant capacity, competitive pricing and declining premiums. This trend continued in 2024, and favorable conditions were largely spurred on by new entrants to the D&O market, increasing competition. According to industry sources, the…