Statutes of repose serve as critical legal boundaries, delineating the time frame within which claims related to construction activities must be initiated. These statutes are designed to provide finality and predictability, shielding contractors and related parties from indefinite liability. However,… Continue Reading →
The contract surety industry faces a complex economic landscape marked by inflation, interest rate fluctuations, and supply chain disruptions. These factors collectively exert pressure on contractors’ financial stability, increasing the likelihood of defaults and claims, and compelling surety companies to… Continue Reading →
Surety bond underwriters play a critical role in ensuring the performance and financial integrity of contractors, especially in public and private construction projects. When these projects involve federally recognized Indian tribes, underwriters face unique legal challenges due to the doctrine… Continue Reading →
El sector de fianzas (o para los españoles “caución”), un nicho vital dentro del panorama más amplio de los servicios financieros y de seguros, se enfrenta actualmente a desafíos transformadores que amenazan los modelos tradicionales de suscripción, la rentabilidad y… Continue Reading →
The surety industry, a vital niche within the broader insurance and financial services landscape, is currently facing transformative challenges that threaten traditional underwriting models, profitability and long-term sustainability. While by no means exhaustive, I’d like to share five dominant themes… Continue Reading →
An injunction is a powerful judicial remedy that can significantly impact the rights and conduct of parties during litigation. The injunction bond mechanism is a critical component of the equitable relief process, providing special financial assurance to enjoined parties in… Continue Reading →
Benefit plan administrators, TPAs, registered investment advisors and plan sponsors often question the requirement for an ERISA fidelity bond that protects plan assets from dishonest conduct. So, we offer a brief ERISA fidelity bond explanation. The historical trigger that led… Continue Reading →
Happy spring to all and, did you remember your surety bond renewal? Whether you’re a contractor, a business owner, or a professional in need of surety bonds, understanding the renewal process is crucial to maintaining compliance and ensuring ongoing operations…. Continue Reading →
The Surety Business After Supreme Court Decision on DEI presents a new risk management concern. In the case of Students for Fair Admissions, Inc. v. President & Fellows of Harvard College and identical plaintiff v. University of North Carolina, No….. Continue Reading →
A focus on building strong relationships with clients and demonstrating your expertise in the field help insurance producers to write more surety business. Surety (especially “contract surety“) is a ‘relationship’ business. Here are some strategies to help you increase your… Continue Reading →
Surety reinsurance can be difficult to procure. Reinsurers can be fickle, changing their preference and appetites for many reasons. Some treaties and cession agreements can be merely an accommodation. Others can severely restrict the classes of surety bond for which… Continue Reading →
Undertaking construction projects in the City of Los Angeles can be complex and challenging. From acquiring the necessary permits to adhering to stringent regulations, builders, contractors and developers face numerous hurdles. One critical requirement that developers must fulfill is obtaining… Continue Reading →
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