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insurance agency

Financial Statements for Contract Surety Bonding

A financial statement is the most important data source for the surety bond underwriter. Although there are a myriad of factors that influence the contract surety bonding underwriter’s judgment of a contractor’s qualifications (financial and otherwise), the financial statement is… Continue Reading →

Georgia Hemp Processor Surety Bond & License 2019

Recent legislation and the delisting of hemp from the federal drug control schedules has prompted the legalization of hemp cultivation in Georgia, although the activity will be tightly restricted at inception. A Georgia hemp processor surety bond will be required…. Continue Reading →

Surplus Lines Broker Bond, a Surety Bond for Insurance Professionals

A surplus lines broker bond is a specific surety bond required by many state departments of insurance. The license allows producers to offer surplus lines insurance. Surplus lines insurance refers to any instance in which the insurance is offered by an insurer that is not… Continue Reading →

Performance Bond Fees Reduced for SBA Surety Bond Guarantee Program

On September 4th, 2018, the Small Business Administration announced its decision to decrease the fees associated with the SBA Surety Bond Guarantee Program (SBG). The fee amendment is the first adjustment in over twelve years. The SBA hope that the… Continue Reading →

Performance Bonds, Some Secrets to Qualifying for Surety Bonds

A frustrating part of being a contract surety bond underwriter is finding oneself obligated to decline a performance bond to a contractor that appears to possess the prerequisite experience, expertise, character and financial strength to accomplish his or her project. The review… Continue Reading →

Fidelity bond, commercial crime policy, dishonesty bond, . . . one in the same!

A fidelity bond, often referred to as a commercial crime policy is an EXCELLENT way to cover your business for losses due to the dishonest acts of employees or in certain cases, outside service providers.  Traditionally fidelity bonds have been written to cover… Continue Reading →

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