After years of pressure from environmental groups the State of Alabama has passed into law a requirement for companies that offer waste treatment and/or maintain waste facilities, landfills, etc., to obtain a surety bond to file with the Alabama Department… Continue Reading →
ERISA Sections 3(37) and Sec. 4001(a)(3)), define a multi-employer plan as a collectively bargained plan maintained by more than one employer, usually within the same or related industries, and a labor union. These plans are often referred to as “Taft-Hartley plans”…. Continue Reading →
An appeal bond is required of appellants (both defendants and plaintiffs) after entry of a judgment in a civil lawsuit in most cases. An “appeal” is a formal request for either review or trial de novo. Generally, the appellant appeals because he… Continue Reading →
A final surface transportation bill will be signed by President Obama this week, and will become law. Among other mandates, the bill increases the minimum bond required of freight/transport brokers. The freight broker surety bond minimum will change from the… Continue Reading →
A bank depository bond is a surety bond purchased by a bank to guarantee the safety of a depositor’s funds and their availability for withdrawal as indicated in the terms of the deposit agreement. While depository bonds can be procured… Continue Reading →
If you have any experience with ERISA plan bonding, then you know how tough it is to place an ERISA fidelity bond for a labor union. In fact, most ERISA bond applications specifically state, “not to be used with union… Continue Reading →
New cleaning and maintenance company owners are often asked, “Are you bonded?”. Being “bonded” means that you have purchased a fidelity policy (also known as a dishonesty bond) to cover your company. This special coverage offers protection to home and… Continue Reading →
Did you forget that you must have a bond for your defined benefit plan? Have you been out of compliance for months or MORE!??? Retro-dating ERISA bonds presents unique underwriting concerns for surety underwriters however, we have a solution for… Continue Reading →
Suretyship is associated with insurance as most sureties are property/casualty insurance companies however a surety’s method of operation involves underwriting practices which more closely resemble banking than insurance. Insurance is a contract between two parties, the insured and the insurer…. Continue Reading →
May 14th through the 17th, we’ll be in Chicago at the Reinsurance Association of America’s ReBasics course and conference. What is it all about? Here’s the course description, . . . “Demystifying Reinsurance: A Basics of Reinsurance is a comprehensive overview… Continue Reading →
Every month we endeavor to share with our partners and clients, the worst bond obligations that come into our office. We post those surety bond forms in a special location within our web server which you can visit here https://suretyone.com/ShitBond1.php We… Continue Reading →
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