Surety Bond Companies Eyeing Material Cost Increases

Construction is a risky business. Contractors know it and so do surety bond companies. Bob Tita, reporter for the Wall Street Journal recently authored an article discussing the current materials cost challenges facing the sector (Costs Raise Riskiness fo Project… Continue Reading →

Janus Assurance Re ~ International Surety Expertise

Janus Assurance Re is a direct source of bond capacity for international obligations that require surety support. Janus will consider contract surety applications lesser than or equal to ten million U.S. dollars and commercial surety applications no greater than five… Continue Reading →

North Carolina General Contractor License Bond Now Available!

For decades a North Carolina general contractor license bond has been out of reach for the large majority of license candidates have not been able to obtain bonding for lack of financial statement strength and because of the onerous terms… Continue Reading →

DOL Prosecutes Plan without ERISA Bond ~ Chao v. Snyder & Snyder Farm Supply, Inc.

We’ve been reporting for years that there is a great deal of non-compliance with ERISA bond requirements. Our advice has always been that regardless of your plan size, number of participants or your opinion about exemptions for your plan, it… Continue Reading →

ERISA Fidelity Bond Inflation Guard ~ What it is and Why it Matters

Fling an ERISA bond is a fiduciary duty required by the Employee Retirement Income Security Act of 1974 (ERISA), with few exceptions. The bond must be issued by a surety company that appears on the U.S. Treasury’s circular of insurers acceptable… Continue Reading →

An ERISA Bond for a 403(b) Plan ~ An Easy Solution!

A fidelity bond for a standard qualified, non-qualified, ESOP, MEP and an ERISA bond for a 403(b) plan (with an exception for certain church-sponsored accounts) is required to comply with the Act (ERISA). Per the U.S. Department of Labor’s circular,… Continue Reading →

ERISA Fidelity Bond for Multiemployer Plan Structures (MEP) ~ No Applicant Declined!

ERISA bond underwriters have generally avoided the fidelity bonding of multiemployer plans (MEPs) due to perceived risks with collective bargaining agreements and plan management responsibilities. Not to be confused with a “multiple employer” plan, an MEP is a plan for which… Continue Reading →

Cryptocurrency Surety Bond

Virtual currencies may suffer downturns and enjoy spectacular increases in value however there is no question that crypto is here to stay. Businesses that trade in these mediums will come under regulatory control and licenses will inevitably be required. Classified… Continue Reading →

Cyber Risks Rise for Commercial Cannabis Operators

Cyber risks rise for commercial cannabis operators daily. A recent article by Don Jergler (Insurance Journal, May 2021) has made some really important observations about cyber risks associated with the management of commercial marijuana establishments. Said Jergler, “A lot of… Continue Reading →

Vaping Product Surety Bond Demand

As vaping becomes more popular, vaping product surety bond instruments and insurance coverages will appear to support the risks of the industry. Many states have already instituted regulations that govern the conduct of vape dealers and distributors. Much like hookah… Continue Reading →

Why Should an Insurance Agent Use a Surety Bond Broker

Most insurance agents are independent entrepreneurs, self-motivated and eager to achieve success in their chosen profession. That independent streak is the same characteristic that can create blind spots when planning for and delivering a broad menu of insurance products. A surety… Continue Reading →

Personal Representatives and Multiple Wills

One of the nations’ foremost legal research groups, the National Legal Research Group, Inc. regularly publishes timely pieces on cases at law that impact surety bond professionals that underwrite fiduciary bonds for probate proceedings. Senior Attorney, Jim Will has written… Continue Reading →

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