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insurance

DMEPOS Surety Bond Now Required for Dentists

As of the new year 2019, the Center for Medicare and Medicaid Services will require dentists that provide durable medical equipment and which participate in a CMS billing program to file a DMEPOS surety bond with the Center. Currently the… Continue Reading →

Surety One, Inc. de Puerto Rico ~ Surety Bonds para 2019

Con suma alegría por la gracia de la amistad y lealtad de nuestros estimados clientes, socios y allegados queridos, Surety One, Inc. de Puerto Rico ha gozado de un año estelar. Nos alegra de sobremanera el hecho que hayamos podido… Continue Reading →

Mississippi Lottery Bond

On August 31st, 2018, the governor approved Senate Bill 2001, referred to as the “Alyce G. Clarke Mississippi Lottery Law” to be effective September 1st, 2018. The new statute establishes the Mississippi Lottery Corporation (MLC). Proceeds from the lottery will… Continue Reading →

Pay-if-Paid Clauses’ Effect on Surety Bonds in Florida

Surety bonds in Florida are subject to claims even if the claimant has agreed to a valid pay-if-paid clause in its contract with the principal. Sureties should still require principals to include pay-if-paid clauses in their contracts, despite the protection… 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 →

What is a Surety Bond? Learn more about surety bonds

Suretyship has been around a LOOOOOONG time. There are records of surety bond accords that stretch back the the Code of Hammurabi. The first “modern” definition for suretyship in the United States was given by George Robert Wentz in the… Continue Reading →

Insurance Profession Benefits from Women in Key Rolls

The insurance industry employs about 2.7 million people in the United States alone. Women comprise about sixty percent of the industry. When insiders consider the history of insurance, many of us think of the Lloyd’s Coffee House in London, where… Continue Reading →

Illinois Insurance Producer Bond

An Illinois insurance producer bond is required for licensing as an insurance agent when the producer is acting in the capacity of an independent broker. Pursuant to Sec. 500-130, a producer who places insurance with an insurer with which he does not… Continue Reading →

Florida Household Moving Service Bond

In order to operate a household moving service in the State of Florida you must obtain the appropriate license and provide a Florida household moving service bond.  Florida statute defines a “household moving service” as loading of household goods into a… Continue Reading →

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